The Impact of the 2008 Financial Crisis

The 2008 financial crisis marked a significant turning point in public perception of capitalism, particularly among younger generations. The collapse of major financial institutions led to widespread unemployment, loss of homes, and a deepening wealth gap, which many young adults experienced firsthand. The collective response spurred movements like Occupy Wall Street, which highlighted the disparity between the 1% and the 99%, expressing frustrations with a system perceived as rigged against them. This period catalyzed a growing skepticism towards capitalism, revealing its failures and prompting a critical examination of its foundational principles.