Adrian Walsh reviews 'Hard Times' by Tom Clark and Adrian Heath

Adrian Walsh reviews 'Hard Times' by Tom Clark and Adrian Heath

HARD TIMES: THE DIVISIVE TOLL OF THE ECONOMIC SLUMP

by by Tom Clark and Anthony Heath

Yale University Press (Footprint), $30 hb, 310 pp, 9780300203776

It is now more than six years since the Global Financial Crisis threatened to topple the banking systems of the Western world. Although a complete breakdown in the financial system was ultimately avoided, one consequence of the events of 2008 has been the biggest slump in economic activity since the Great Depression. Australia was, in the main, spared the economic damage that ravaged large parts of Europe, and there has been little discussion in these parts of the causes and social effects of what the authors refer to as the ‘Great Recession’. Somewhat surprisingly, on the evidence presented in this book (and despite both the United States and the United Kingdom being severely affected) it would seem that the Anglosphere at large is guilty of what the authors call the ‘veil of complacency’. The book asserts that in those countries there is little concern for either the financial consequences or the victims of the crisis. Why should this be the case? Perhaps the Great Recession was not as bad as the headlines have suggested.

Read the rest of this article by purchasing a subscription to ABR Online, or subscribe to the print edition to receive access to ABR Online free of charge.

If you are a single issue subscriber you will need to upgrade your subscription to view back issues.

If you are already subscribed, click here to log in.

Published in March 2015, no. 369
Adrian Walsh

Adrian Walsh

Adrian Walsh is Professor of Philosophy at the University of New England. He works mainly in political philosophy and the philosophy of economics. His most recent work is the edited collection The Ethical Underpinnings of Climate Economics.

Leave a comment

Please note that all comments must be approved by ABR and comply with our Terms & Conditions.

NB: If you are an ABR Online subscriber or contributor, you will need to login to ABR Online in order to post a comment. If you have forgotten your login details, or if you receive an error message when trying to submit your comment, please email your comment (and the name of the article to which it relates) to comments@australianbookreview.com.au. We will review your comment and, subject to approval, we will post it under your name.