Peter Turchin explains the social-economic roots of UK and US crisis by violation of the existing social contract by rise of neoliberalism. This is pretty much what happened... but it's only half of the picture.
http://peterturchin.com/cliodynamica/the-structural-demographic-roots-of-the-uk-crisis/
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20th century witnessed rise of trade unions to protect labour rights, but it didn't stop there. What we actually saw truly dialectical transformation of unions from workers oppressed by elites abusing their economic power to the ones who actually were oppressing others using *their* economic position.
