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The Compass: After the Crash: After the Crash: Authority and Trust

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After The Crash: Authority and Trust

26/09/2018 GMT

After the Crash: Authority and Trust

After the Crash

BBC World Service - The Compass, After the Crash, After the Crash: Authority and Trust

How did the 2008 financial crisis affect our trust in authorities and experts?

What were the origins of the 2008 financial crisis and how did it affect our trust in authorities and experts? Professor Ian Goldin finds out.

In 2008 the world financial system had a heart attack. Gripped by panic, banks stopped lending, cash ran out and the world came to the edge of a financial precipice. As millions of people lost their jobs and as the shock that started in Wall Street reverberated around the world, the crisis led to a collapse of the Greek, Spanish, Icelandic and other economies.  

Professor Ian Goldin looks at the origins of the crash and he examines how it affected our trust in authorities and experts. He travels to New York to talk to some of the world’s leading academics including Joseph Stiglitz, Jeffrey Sachs and Adam Tooze and he hears from a former Lehman Brothers employee about the final days of the troubled business whose collapse led to the financial crisis. 

Presenter: Ian Goldin
Producer: Ben Carter

(Photo: Two employees of Christie's auction house manoeuvre the Lehman Brothers corporate logo in London
Credit: Oli Scarff/Getty Images)

The Compass: After the Crash

Ian Goldin examines how the 2008 financial crisis has changed the world.

Ten years ago the world financial system had a heart attack. Gripped by panic, banks stopped lending, cash ran out and the world came to the edge of a financial precipice.

The impact was immediate. As millions of people lost their jobs and as the shock that started in Wall Street reverberated around the world, the crisis led to a collapse of the Greek, Spanish, Icelandic and other economies. 

Professor Ian Goldin has spent his career working in all five continents on finance and development. After serving as an economic advisor to President Mandela and CEO of the Development Bank of Southern Africa, he moved to Washington to be the head of policy and vice president at the World Bank in the run up to the crisis. In 2006, he was appointed as the founding Director of the Oxford Martin School and Professor of Globalisation and Development at Oxford University.

In this five part series he examines how the 2008 financial crisis has changed the world.

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