Scandalous Economics

Scandalous Economics builds upon the Occupy movement and other critical analysis of the GFC to comprehensively examine gendered material, ideational and representational dimensions that have served to make the crisis and its effects, 'the ...

Author: Aida A. Hozic

Publisher: Oxford University Press

ISBN: 9780190204259

Category: Political Science

Page: 304

View: 538

DOWNLOAD →

Of all of the lies, fragile alliances, and predatory financial dealings that have been revealed in the wake of the Global Financial Crisis of 2008, we have yet to come to terms with the ways in which structural inequalities around gender and race factor into (and indeed make possible) the current economic order. Scandalous Economics is about "silences" - the astonishing neglect of gender and race in explanations of the Global Financial Crisis. But, it is also about "noises" - the sexual scandals and gendered austerity policies that have relegated public debate, and the crisis itself, into political oblivion. While feminist economists and movements such as Occupy Wall Street have pointed to the distributional inequalities that are an effect of financial deregulation, scholars haven't really grappled with the representational inequalities inherent in the way we view the politics of the market. For example, capitalism won't be made more equitable simply by appointing women to leadership positions within financial firms or corporations. And the next crisis will not be averted if our understandings of gendered inequalities are framed by sexual scandals in media and popular culture. We need to look at the activities and the privileges of the advantaged - the "TED women" of the crisis -- as much as the victimization of the disadvantaged - to fully grasp the interplay between gender and economy in this fragile age of restoration. Scandalous Economics breaks new ground by doing precisely this. It argues that normalization of the post-GFC economic order in the face of its obvious breakdown(s) has been facilitated by co-optation of feminist and queer perspectives into national and international responses to the crisis. Scandalous Economics builds upon the Occupy movement and other critical analysis of the GFC to comprehensively examine gendered material, ideational and representational dimensions that have served to make the crisis and its effects, 'the new normal' in Europe and America as well as Latin America and Asia.

The Legacy of the Global Financial Crisis

This book takes an alternative approach which focuses on the legacy of the global financial crisis, what is remembered and what lessons have been drawn from it.

Author: Youssef Cassis

Publisher: Bloomsbury Publishing

ISBN: 9780755626632

Category: Political Science

Page: 240

View: 557

DOWNLOAD →

Much has been written on the financial crisis of 2008 – the most severe economic downturn since the Great Depression – analysing its causes and the risks for the future of the global economy. This book takes an alternative approach which focuses on the legacy of the global financial crisis, what is remembered and what lessons have been drawn from it. This volume provides perspectives on this legacy from a variety of contributors including central bankers, regulators, politicians, academics, and journalists. They offer insight into what remains of the crisis in terms of public and industry awareness, changes to the post-2008 financial architecture, lessons from the national experiences of highly exposed small economies, and considers this legacy in terms of oversight by regulatory regimes. These diverse perspectives are drawn together here to ask how we can ensure that these lessons will be transmitted to the new generation of global financiers.

The Global Financial Crisis and the New Monetary Consensus

This book seeks to fill this gap, drawing on the lessons from five decades of contrasted theoretical approaches ranging from Keynesianism, monetarism, new classical macroeconomics, inflation targeting and more recently, pragmatic global ...

Author: Marc Pilkington

Publisher: Routledge

ISBN: 9781134582563

Category: Business & Economics

Page: 270

View: 904

DOWNLOAD →

The Global Financial Crisis has reshuffled the cards for central banks throughout the world. In the wake of the biggest crisis since the Great Depression, this volume traces the evolution of modern central banking over the last fifty years. It takes in the inflationary chaos of the 1970s and the monetarist experiments of the 1980s, eventually leading to the New Monetary Consensus, which took shape in the 1990s and prevailed until 2007. The book then goes on to review the limitations placed on monetary policy in the aftermath of the global meltdown, arguing that the financial crisis has shaken the new monetary consensus. In the aftermath of the worst crisis since the Great Depression, the book investigates the nature of present and future monetary policy. Is the Taylor rule still a satisfactory monetary precept for central bankers? Has the New Monetary Consensus been shaken by the Global Financial Crisis? What are the fundamental issues raised by the latter cataclysmic chain of events? How should central banks conceptualize monetary policy anew in a post-crisis scenario? Existing books have dwelt extensively on the characteristics of the New Monetary Consensus, but few have cast light on its relevance in a post-crisis scenario. This book seeks to fill this gap, drawing on the lessons from five decades of contrasted theoretical approaches ranging from Keynesianism, monetarism, new classical macroeconomics, inflation targeting and more recently, pragmatic global crisis management.

Islamic Finance and the New Financial System

For non-experts, the book includes a useful summary and explanation of Islamic financing terminology. For so serious a topic, the book is very readable and manages to convey a sense of optimism for the future.

Author: Tariq Alrifai

Publisher: John Wiley & Sons

ISBN: 9781118990698

Category: Business & Economics

Page: 280

View: 616

DOWNLOAD →

Can Islamic finance save the global system? Islamic Finance and the New Financial System describeshow the adoption of Islamic finance principles in future regulatorydecisions could help prevent future shocks in the global financialsystem. Using illustrations and examples to highlight key points inrecent history, this book discusses the causes of financial crises,why they are becoming more frequent and increasingly severe, andhow the new financial system will incorporate elements of Islamicfinance – whether deliberately or not. With an introspectivelook at the system and an examination of the misconceptions anddeficiencies in theory vs. practice, readers will learn why Islamicfinance has not been as influential as it should be on the largerglobal system. Solutions to these crises are thoroughly detailed,and the author puts forth a compelling argument about what can beexpected in the future. Despite international intervention and global policy changes,the financial system remains in a fragile state. There is anargument to be made about integrating Islamic finance into the newsystem to facilitate stronger resilience, and this book explainsthe nuts and bolts of the idea while providing the reader with ageneral understanding of Islamic finance. Understand the key principles of Islamic finance Examine the history of the current financial system Discover how Islamic finance can help build a new debt-freeeconomy Learn how Islamic finance theory doesn't always dictatepractice Although Islamic finance is a growing market, it is still aforeign concept to many. Those within the Islamic finance circleswonder why the system has yet to gain broader appeal despite itsability to create a strong and well-balanced economy. IslamicFinance and the New Financial System provides clever analysisand historical background to put the issues into perspective.

Lessons from the Financial Crisis

Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable ...

Author: Robert Kolb

Publisher: John Wiley & Sons

ISBN: 9780470561775

Category: Business & Economics

Page: 667

View: 199

DOWNLOAD →

The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from both investors and the financial community to obtain answers as to what really happened and why. Lessons from the Financial Crisis brings together the leading minds in the worlds of finance and academia to dissect the crisis. Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable insights into what we must do to avoid future missteps. Each section is comprised of chapters written by experienced contributors, each with his or her own point of view, research, and conclusions Examines the market collapse in detail and explores safeguards to stop future crises Encompasses the most up-to-date analysis from today's leading financial minds We currently face a serious economic crisis, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through the current situation and learn from our mistakes.

Redefining the Market State Relationship

This book offers an interdisciplinary overview of the role of law in modern capitalism in the context of financial crisis.

Author: Ioannis Glinavos

Publisher: Routledge

ISBN: 1138639451

Category:

Page: 200

View: 924

DOWNLOAD →

This book offers an interdisciplinary overview of the role of law in modern capitalism in the context of financial crisis. In this work, the reader will find a discussion of key issues relevant to the crisis that have occupied the pages of the financial press since 2007 including an assessment of the meltdown of the sub-prime mortgage market, the credit crunch, the European debt crisis and the turmoil in Greece, plus a series of theoretical contributions that are aimed to challenge perceptions of the market-state relationship and the place of law within it. The book includes a methodological defence of the state-market dichotomy, a critique of the tenets of neoclassical economics, and an evaluation of what the financial crisis heralds for the future of the political economy of western democracies. Ioannis Glinavos argues that it is a mistake to associate markets with freedom and states with oppression, and suggests that more choice for consumers can -and does- mean less choice for citizens. The book suggests that a new social contract is needed to ensure the survival of both capitalism and democracy. In contributing a unique, legal perspective to the underlying dynamics of the financial crisis, this book will be valuable to scholars and students of regulation, financial markets and economic development.

Preparing for the Next Financial Crisis

In this book, senior figures in economics, risk Management, and the banking sector use active research and policy debates to offer a wide perspective on what the next financial crisis may look like and what can be done about it from a ...

Author: Esa Jokivuolle

Publisher: Cambridge University Press

ISBN: 9781316949238

Category: Business & Economics

Page:

View: 876

DOWNLOAD →

In the years since the subprime financial crisis of 2007–2011, we have learned a number of important lessons about the crisis, and have subsequently applied appropriate legislation, such as increased capital ratios and systematic stress testing, in order to combat it. However, it would be naive to suggest that such measures have put an end to the possibility of future crises. In this book, senior figures in economics, risk Management, and the banking sector use active research and policy debates to offer a wide perspective on what the next financial crisis may look like and what can be done about it from a regulatory point of view. By first exploring issues of macroeconomic policy, and then studying cutting-edge methodologies, challenging important aspects of testing financial practice, this book will be an essential read for all those studying and researching financial crises, financial regulation and macroprudential policy-making.

Dimensions of the Global Financial Crisis

This paper examines corporate governance and regulation in the context of the current global financial crisis at its peak time in 2008/2009.

Author: Conrad Ruppel

Publisher: Cuvillier Verlag

ISBN: 9783736932562

Category: Law

Page: 108

View: 859

DOWNLOAD →

This paper examines corporate governance and regulation in the context of the current global financial crisis at its peak time in 2008/2009. For the purpose of this study, it is essential to be aware of the market conditions and business models, in which corporate governance and regulation needed to function throughout the last years. Moreover, it is essential to consider the impact of regulation; the financial sector has widely emphasized the rationale of self-regulation, which is generally seen as more cost-effective and preferable to government regulation. It will be shown that a complex web of interrelated failures in both corporate governance and governmental regulation not only caused, but also prolonged the crisis. Examining the function and weaknesses of corporate governance adds an important perspective to the search for the causes. It reveals the ability of companies (in the financial sector) to effectively use the freedom associated with self-regulation, as it likewise defines an area for possible government regulation in the short and long term. Examining government regulation on a national (US) and international level demonstrates that not only failures in corporate governance, but even more a number of imprudent government regulations were fundamental for the financial debacle. In addition, recent government interventions and draft proposals predict the danger of overregulation and the implementation of further imprudent policies. In order to discuss the role of self-regulation and government regulation in the context of the global financial crisis, the last chapter establishes a chain of reasoning, which mainly refers to the findings of this paper; it is complemented with considerations regarding the special nature of the financial sector and the future role of government regulation. It is shown that the desired balance does and should not only depend on government regulators; but that stability of firms and markets requires sound corporate governance and self-regulation by companies in the financial sector. This approach involves a number of short and long term recommendations for both governments and companies.

Currency Wars

As James Rickards argues in Currency Wars, this is more than just a concern for economists and investors.

Author: James Rickards

Publisher: Penguin

ISBN: 9781591845560

Category: Business & Economics

Page: 320

View: 614

DOWNLOAD →

In 1971, President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing currency war that had destroyed faith in the U.S. dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon. Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries' stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008. Currency wars have happened before-twice in the last century alone-and they always end badly. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. And the next crash is overdue. Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict. As James Rickards argues in Currency Wars, this is more than just a concern for economists and investors. The United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Greater than any single threat is the very real danger of the collapse of the dollar itself. Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years. Not only have their theories failed to prevent calamity, they are making the currency wars worse. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas. While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors. Rickards untangles the web of failed paradigms, wishful thinking, and arrogance driving current public policy and points the way toward a more informed and effective course of action.

The Years of Living Dangerously

Is the financial crisis in Asia really over? In this study of the Asian financial crisis, Vines argues that the 1997 collapse of Asia's economy could be repeated because many Asian companies remain fundamentally weak.

Author: Stephen Vines

Publisher: Texere

ISBN: 1587990059

Category: Business & Economics

Page: 288

View: 311

DOWNLOAD →

Is the financial crisis in Asia really over? In this study of the Asian financial crisis, Vines argues that the 1997 collapse of Asia's economy could be repeated because many Asian companies remain fundamentally weak.