In When Left Moves Right, Maria Snegovaya argues that the transition-era pro-market convergence of mainstream parties, particularly the neoliberal policies adopted by former communist left parties, left reform losers (electorates in precarious economic situations, such as working-class electorates) without political representation. Subsequently, these social groups were incorporated by emerging populist political actors.
The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent...
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