Abstract
Considering its scope, range, and consequences, there is no doubt that the global financial crisis that started on September 2007 had a potential to create not only instability, but also a transformation in the global financial and political system. Occupy Wall Street movement, the St. Paul’s Cathedral protest in London, the southern European protest against austerity, and the social protest in Israel indicated that something was happening (Brown 2015: 30).
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The pressure placed on oligarchs by the presence of ‘the excluded demos’ was a major theme in classical writing, and a source of inherent instability, already according to the ancient Greeks (Simonton 2017).
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See: United States Senate Permanent Subcommittee on Investigations Committee on Homeland Security and Governmental Affairs. Abuse of Structured Financial Products: Misusing Basket Options to Avoid Taxes and Leverage Limits. Released in Conjunction with the Permanent Subcommittee on Investigations July 22, 2014, Hearing.
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See the website: https://www.heartland.org/about-us/index.html.
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See the website: https://www.mrc.org/about.
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Large natural gas reserves were discovered in Israel between 2009 and 2013 (Even, INSS 2009; NaturalGasEurope 2013; Bloomberg 2013). The exploration was largely carried out by private investors, most prominently the Tshuva Group and Noble Energy, an American corporation. The discoveries prompted a charged debate concerning the appropriate taxes the state should charge on the gas, and the equivalent royalties.
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Gottfried, S. (2019). ‘Populist Oligarchy’ in the Aftermath of the Global Financial Crisis. In: Contemporary Oligarchies in Developed Democracies. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-14105-9_6
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