Criticism of globalisation and inequality, as well as rising populism and socialism, are symptoms 4/7  BIS central bankers' speeches  of a bigger problem of our market economy model. Now, that was a fast ride through 200 years of economic history. And to be clear, much of this story has been simplified and I mooted many competing explanations.
On the  BIS Review 146/2007  1  other hand, it can also be seen as a development incurring new risks, be it by an inadequate recognition of risks inside a single bank, be it by new adverse risk-taking incentives or by the imperfection of hedges, be it, finally, by new effects that no one had discovered before.