Market Leader Upper Intermediate 3rd Edition Answer

Market Leader Upper Intermediate 3rd Edition Answer

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At the risk of sounding overly simple, we suggest that Brexit is alsocurrently underlining the significance of issues that are impacting on theintermediary class. The most obvious example is the impact of austerity uponthe traditional secure and stable careers that had generated by far thelargest number of this intermediary group (unless one includes, alongsideUK-based experts, also the former elite of large corporations andgovernment). (8) If these former careers are now disappearing, andif the new economy is not providing comparable employment opportunities,those who have suffered the most will become a significant, hard-to-identifygroup at the heart of the Brexit debate. However, this group is notsymmetrically represented in the Brexit debate, but is typically associatedwith the far right or the left. More dramatically, the Brexit debate has beenaffected by the growing realisation that the traditional economicmiddle ground is essentially a false one. The key events that lie at the heartof the Brexit debate are the Great Recession of 2007-8 and the subsequentrecession of 2008-9. (9) The origins of both have been traced to thefinancial crisis of 1998, which was precipitated by the bursting of theAsian stock-market bubble and the resultant financial crisis. (10) Threeyears later, the impact of the financial crisis of 2008-9 was stark andunprecedented, with the UK GDP falling to below the pre-crisis level of2001 (at this point, before the onset of the Great Recession, there had beso-called the 'Great Moderation'). But the'recovery' after 2008 wasdifficult, and by 2010 real GDP was actually below the level of 2002. (11)

While the recession of 2008-9 was largely a US phenomenon, thesubsequent recession has been explained primarily in terms of theeffects of the financial crisis of 2008. Specifically, it was the collapseof the investment bank Lehman Brothers in September 2008 that triggeredthe credit crunch that spread throughout the world, triggering a chainreaction that led to a profound depression throughout the world, and toa collapse of the real economy in the UK and elsewhere. Among themain consequences of this global recession has been the speeding upof the collapse of several major national economies, as witnessed in theUK by the demise of General Motors, the loss of jobs in thepublic sector and the growth of part-time employment. (12) In other words,the Great Recession has been associated with the final collapse of theold economy.

The study, which sought to identify the key factors behind Brexit, reachedback to the period of 1979 to 2015. It took account of the political,economic, social and demographic variables that had a direct bearing on theissue of Britain's membership of the EU. We found that it was themid-market classes that were most likely to vote for Brexit, with people inbetween the upper and lower middle classes more than twice as likely to voteLeave as Remainers, and we also found that the vote was more likely to be given tothose who were more economically insecure. (8) In this study we proposed thatthis phenomenon could be explained by the actions of the political elite --most of whom are members of the better-off classes -- and in particular thevarious political parties that they lead. We found that class-based resentmentagainst the political class and parties, which in turn stems from the experiencesof the electorate, is the key factor behind Brexit. (9) 827ec27edc