Financial crisis and crime fiction

"The case of Iceland, which in recent weeks has nationalized its three major banks, shut its stock exchange and halted trading in its currency, is by now well known. Less well known is the speed with which the Icelandic disease is spreading." So writes Anne Applebaum in the washintonpost.com. She goes on: "The banks of Iceland had debts larger than Iceland's gross domestic product, Hungary's finances were long mismanaged, and Ukraine, whose president just called for the third election in as many years, is badly governed. But the speed with which some of these defaults are happening, coupled with the paranoia inherent in the political culture of small countries, has led many to suspect political manipulation as well....Political instability will follow economic instability like night follows day. Iceland is not alone. Serbia, the Baltic states, Kazakhstan, Indonesia, South Korea and Argentina are all in financial trouble; so, too, are Russia and Brazil."

These are troubled times and everyone wishes they were different. Nevertheless, next year's crop of Euro and other translated crime fiction novels should be buzzing! Not only might we expect excitements from our favourite Icelandic authors (also pointed out at Crime Scraps), but, it seems, Eastern Europe, Russia and beyond as well. Not a silver lining by any means, but a small chink in the gloom to which we can look forward, perhaps.

Comments

[Norm]

I noticed a link on the financial gloom page of the Independent you linked to Maxine about Aldis and Lidls moving into middle class areas.
Here in Exeter we frequently see Waitrose bags being taken in to Lidls!

The boom in Irish crime fiction came at a time of economic expansion but I agree that the coming recession, or even depression, may produce some powerful political thrillers.

[Peter]

Nice to see the media still referred to as mainstream catching up on a subject I wrote about last week!: http://detectivesbeyondborders.blogspot.com/2008/10/thats-wrap-bouchercon-in-words-and.html

[Norm]

Nice to see everyone catching up on a subject I wrote about last year!

http://camberwell-crime.blogspot.com/2007/12/best-of-year-beyond-europe.html

Only kidding Peter you are the man. Your photo taken with Arnaldur Indridason I can't beat that!

[Bronwen]

It might be interesting to see how the financial crisis affects booksales. There is quite a good chance that the may be unaffected or even increase during this period where people still have some-but-less money to spend on entertainment.

I heard on the radio that cinemas are continuing to do well. The reason suggested is that it is a relatively cheap night out and people are wanting to "escape". Of course it helps that "Mamma-Mia" is (still) on circuit. :)

[Euro Crime (Karen M)]

Maybe the credit crunch will be a boon to libraries in terms of increased visitors.

[Dave Lull]

"Library use rises as economy falls"--Boston Globe:

http://www.boston.com/news/local/articles/2008/10/16/library_use_rises_as_economy_falls/

[Maxine]

I have to admit that I actually saw Mamma Mia - with my daughters. It was exhausting and made me dizzy. I think it is the kind of movie that is good background to a party when everyone has had a few, but a hard film to sit through in the cinema ;-)

[Peter]

Excellent post.It might be interesting to see how the financial crisis affects book sales. There is quite a good chance that the may be unaffected or even increase during this period where people still have some-but-less money to spend on entertainment...
http://undiscoveredequities.com/