| ID | 110095 |
| Title Proper | Burying the middle class, or the fall of the golden billion |
| Language | ENG |
| Author | Oganesyan, Armen |
| Publication | 2011. |
| Summary / Abstract (Note) | THE CURRENT ECONOMIC DOWNTURN, like others before it, has shattered many dreams. But this is the first to have devastated so many people at once, regardless of class or social status - from pauper to prince. Thanks, globalization.
Well, globalization is not entirely to blame. A crisis like the present one has never befallen such an affluent society, one that has become accustomed to prosperity and opportunities on a mass scale.
Despite the tensions of the Cold War (or possibly thanks to them), the decades of postwar stability generated an unprecedented surge in technology and consumption. Ordinary Europeans and Americans had been breathing the illusory air of the "end of history" long before Francis Fukuyama made his famous prophecy. |
| `In' analytical Note | International Affairs (Moscow) Vol. 57, No. 6; 2011: p. 145-147 |
| Journal Source | International Affairs (Moscow) Vol. 57, No. 6; 2011: p. 145-147 |
| Key Words | Golden Billion ; Middle Class ; Globalization ; Cold War ; Gloabal Economy ; United States ; Obama |