Abstract
The crisis of 2007, which has been described as both a global financial crisis and a banking crisis, is analysed in this chapter. Irrespective of this distinction, this was a crisis for which capital was blamed or initiating. However, as the crisis developed narratives shifted from penalising those who were initially blamed towards strategies of reducing/limiting government/national spending. This shifted the focus of blame away from capital (or the owners of capital) and towards those in receipt of such spending programmes. This chapter charts such narratives and explores how elites, who were initially blamed, managed to avoid and deflect blame.
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Kirkland, C. (2017). The Financial Crisis of 2007. In: The Political Economy of Britain in Crisis. Building a Sustainable Political Economy: SPERI Research & Policy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-59238-1_4
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