The Financial Crisis of 2008–2009
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This article uses the integral political-economic approach to analyze the causes of the ﬁnancial crisis of 2008-2009. First, the modern ﬁnancial system is summarized as seen through the eight horizontal realms of the Integral model. This serves as necessary background information to non-economists and also as a check against certain reductionistic views of our system. As opposed to the more mature tendencies available, immature drives within both political-economic conservatives and liberals are shown (in varying degree) to have interacted, causing the imbalances that led to the crisis. Yet analyses of the crisis elsewhere tend to be partial and ideologically biased. Integral values and action strategies provide direction for working towards a centauric culture—one that would better include healthy actions of agents at their given levels for the reconciliation of conservative, liberal, and radical views needed for the maturation of the informational economy.