More Developed Countries in the Aftermath of the 2007–2008 Financial Crisis

Introduction

In a challenging economic security and an interconnected and globalized world such as we have today, there are ever more opportunities for growth and development for all nations. On the other side of the coin, there are now ever more threats to peace and security of the state and its citizens as a result of this interconnectedness. Financial crises and the instability and suffering they bring are one of these threats. Case in point, the global financial crisis of 2007–2009 continues to cast a shadow on the economies of the world. Aside from the trillions of dollars in losses to banks and financial institutions and governments, it has resulted in growing indebtedness for both individuals and governments in the advanced economies, less jobs, and less growth for millions of people around the world. To this day, it influences the discourse of monetary and economic policy in the global economies, and though the crisis technically ended in 2009, current events still bear its...