Professor Peter Spencer of the Ernst & Young [http://www.ey.com/UK/en/Issues/Business-environment/Financial-markets-and-economy/Economic-Outlook ITEM Club] concluded that the consumer economy in the United Kingdom would not recover from the late-2008 recession until 2011. <ref>Wallop, Henry & Conway, Edmund (2008). [http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3227351/Consumer-economy-will-not-recover-until-2011.html "Consumer economy will not recover until 2011"]. ''The Telegraph'', telegraph.co.uk.</ref> While Ann Kramer has proposed a new economic system as an alternative to a consumer-based economy, due to the effects of the recent recession. Dubbed "Partnerism", the proposed economic framework would implement equal cooperation between all sectors of the economy, elevating the significance of what the author perceives as marginalized sectors. Kramer believes that the 2008 bailout of financial institutions in the United States was not a sustainable model, commenting that "Wall Street has been acting like drunken fools". <ref>Kramer, Ann (2008). [http://www.opednews.com/articles/Time-to-reinvent-the-econo-by-Ann-Kramer-080925-427.html "Beyond the Consumer Economy: Partnerism"]. ''OpEdNews''</ref> | Professor Peter Spencer of the Ernst & Young [http://www.ey.com/UK/en/Issues/Business-environment/Financial-markets-and-economy/Economic-Outlook ITEM Club] concluded that the consumer economy in the United Kingdom would not recover from the late-2008 recession until 2011. <ref>Wallop, Henry & Conway, Edmund (2008). [http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3227351/Consumer-economy-will-not-recover-until-2011.html "Consumer economy will not recover until 2011"]. ''The Telegraph'', telegraph.co.uk.</ref> While Ann Kramer has proposed a new economic system as an alternative to a consumer-based economy, due to the effects of the recent recession. Dubbed "Partnerism", the proposed economic framework would implement equal cooperation between all sectors of the economy, elevating the significance of what the author perceives as marginalized sectors. Kramer believes that the 2008 bailout of financial institutions in the United States was not a sustainable model, commenting that "Wall Street has been acting like drunken fools". <ref>Kramer, Ann (2008). [http://www.opednews.com/articles/Time-to-reinvent-the-econo-by-Ann-Kramer-080925-427.html "Beyond the Consumer Economy: Partnerism"]. ''OpEdNews''</ref> |