Although it was foreshadowed by other events, the dramatic collapse of Lehman Brothers in 2008 seemed to mark a turning-point in the fortunes of the developed Western economies. Since then an “economic downturn” has lead to job losses, pay cuts, and a widening budget deficit and widespread pessimism.
This isn’t the first recession the UK has experienced in recent decades, but is it different this time? Commentators can be found across the political spectrum who believe this moment offers an opportunity to create a better society. But what would that look like? Would social justice be a key consideration or are rights and liberties more important?
We’ll be joined by Paul Mason, financial journalist and economics editor for Newsnight. He is the author of a recent book about the financial crisis, Meltdown.