The Great Deformation

The Great Deformation refers to a period of significant economic, political, and social upheaval starting around 2008, driven by financial crises, excessive debt, and risky investments. It involved the collapse of major financial institutions, government interventions, and shifts in global power dynamics. This period revealed vulnerabilities in the global financial system, leading to widespread instability and changes in economic policies. Essentially, it was a time when longstanding economic practices were challenged, prompting a reevaluation of how economies grow, risk is managed, and wealth is distributed on an international scale.