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3. Shifting Loyalties? Globalization and National Identity in the Twenty-First Century

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Chapter Summary

The worldwide economic crisis that closed the first decade of the twenty-first century aptly characterizes the reach of economic globalization, as the September 2008 collapse of the Lehman Brothers bank triggered a domino effect that impacted many other financial institutions, countries and citizens. The financial crisis has also shown that globalization subsumes politics and culture as well as economics. The economic crisis begat new supranational initiatives, such as the European Stability Mechanism, which was created by the European Union (EU) member states. The economic downturn slowed immigration to advanced industrialized societies. Two possible narratives arise in the face of globalization: nationalist decline and nationalist backlash. A multilevel, cross-national research design and the 2008 wave of the European Values Study (EVS) allows substantial leverage for understanding what kinds of people exhibit particular patterns of national identity, as well as for explaining how patterns of national identity vary in tandem with globalization.

Keywords: European Stability Mechanism; European Union (EU); European Values Study (EVS); globalization; Lehman Brothers bank; national identity



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