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Global Recession and Income Inequality: Factors of Disruption for Elites in the Twenty-First Century

  • Leonid GrigoryevEmail author
  • Victoria Pavlyushina
Chapter

Abstract

Global Governance (GG) is a system of institutions and rules that allows different national and regional economies to be connected by trade, labour flows, money and information. At the same time, GG includes specific systems that connect all types of markets. Most importantly, it has a system of enforcement to ensure the smooth operation of this immense system. Disturbances to the GG system can have a positive or creative effect.

Occasional economic shocks influence GG negatively by diverting the attention of political elites to other urgent national problems and by tightening budgets devoted to reducing inequality domestically versus reducing poverty and solving other problems on the global level. Large-scale socio-economic shocks can also aggravate the situation with GG, limiting capabilities and shifting the focus of national political elites. In this chapter, we intend to show the chain of economic-socio-political shocks that occurred on the national level during the period of 2008–2018. Those shocks affected the actual positions of elites and created high uncertainty. The negative influence of domestic economic problems and renewed debates on issues of inequality intensified international conflicts and destabilised electoral processes. Taken together, these trends have been changing and endangering the GG for some years.

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.National Research University Higher School of EconomicsMoscowRussia

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