Radicalization in response to the shock was exacerbated in cities with a history of anti-Semitism. Exploiting cross sectional variation in pre-crisis exposure to the bank at the center of the crisis, we show that Nazi votes surged in locations more affected by its failure. We study Germany's 1931 banking crisis, collecting new data on bank branches and firm-bank connections. They look closely at the impact of the collapse of Danatbank, Germany's second-largest bank.
In Financial crises and political radicalization: How failing banks paved Hitler's path to power, the paper's authors, Sebastian Doerr, Stefan Gissler, José-Luis Peydró and Hans-Joachim Voth, look at whether financial crises radicalise voters. Now, a working paper from the Bank for International Settlements, the central banks' bank, looks at the role of failing banks in the rise of the Nazis. Going back a lot further fallout from the Great Depression is associated with the rise of Adolf Hitler and the road to World War II. In recent times the Global Financial Crisis, when banks blew up the financial world, is often touted as a factor in the rise of Donald Trump, for example. So what has happened?Ģ) How a banking crisis helped usher the Nazis into power.Įconomic upheaval has long been associated with the rise of radical and extreme politicians. McCown points out that these results are far from what was expected at the beginning of the pandemic. The sector has now delivered record earnings for four straight quarters. Interesting that third quarter 2020 figure was already nearing record highs.
As he puts it, that's a staggering US$43 billion, nine-fold increase on the US$5.1 billion profit the industry made in the third quarter last year. The results are mind blowing.Īccording to McCown, net income for the container shipping industry in the third quarter of 2021 was US$48.1 billion. John McCown, founder of New York-based Blue Alpha Capital, has crunched the numbers on just how well the container shipping industry has fared.
The global supply chain woes flowing out of the Covid-19 pandemic have caused delays, problems and higher costs for many businesses and individuals. This Top 5 comes from .nz's Gareth Vaughan.Īs always, we welcome your additions in the comments below or via email to And if you're interested in contributing the occasional Top 5 yourself, contact all previous Top 5s here.ġ) The best quarterly financial performance by the container ship industry ever.
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