From Globalization to Isolation: Exposure to the 2008 Financial Crisis and Three Dimensions of Liberal Attitudes in a Swedish Twin Design

Abstract

This study investigates the link between non-liberal attitudes and adverse exposure to market disturbances during the 2008 global financial crisis, drawing from the premise that anti-liberal sentiments among Western voters stem from economic distress. We delve into three facets of liberal ideology in a Swedish sample: economic liberalism, liberal multiculturalism and liberal internationalism. Using variation in crisis exposure within identical twin pairs, comprehensive longitudinal economic data and detailed survey responses, we find no significant shift in economic or multicultural liberal attitudes with different crisis exposures. However, exposure to increased unemployment risk significantly lowered support for liberal internationalism, increasing scepticism towards global governance and multilateral cooperation.