Financial Cultures and Crisis Dynamics

Financial Cultures and Crisis Dynamics PDF

Author: Bob Jessop

Publisher: Routledge

Published: 2014-10-17

Total Pages: 320

ISBN-13: 1317681525

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The recent financial crisis exposed both a naïve faith in mathematical models to manage risk and a crude culture of greed that embraces risk. This book explores cultures of finance in sites such as corporate governance, hedge funds, central banks, the City of London and Wall Street, and small and medium enterprises. It uses different methods to explore these cultures and their interaction with different financial orders to improve our understanding of financial crisis dynamics. The introduction identifies types of cultural turn in studies of finance. Part I outlines relevant research methods, including comparison of national cultures viewed as independent variables, cultural political economy, and critical discourse and narrative policy analysis. Part II examines different institutional cultures of finance and the cult of entrepreneurship. Part III offers historical, comparative, and contemporary analyses of financial regimes and their significance for crisis dynamics. Part IV explores organizational cultures, modes of calculation, and financial practices and how they shape economic performance and guide crisis management. Part V considers crisis construals and responses in the European Union and China. This book’s great strength is its multi-faceted approach to cultures of finance. Contributors deploy the cultural turn creatively to enhance comparative and historical analysis of financial regimes, institutions, organizations, and practices as well as their roles in crisis generation, construal, and management. Developing different paradigms and methods and elaborating diverse case studies, the authors illustrate not only how and why ‘culture matters’ but also how its significance is shaped by different financial regimes and contexts.

Financial Cultures and Crisis Dynamics

Financial Cultures and Crisis Dynamics PDF

Author: Bob Jessop

Publisher: Routledge

Published: 2014-10-17

Total Pages: 349

ISBN-13: 1317681533

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The recent financial crisis exposed both a naïve faith in mathematical models to manage risk and a crude culture of greed that embraces risk. This book explores cultures of finance in sites such as corporate governance, hedge funds, central banks, the City of London and Wall Street, and small and medium enterprises. It uses different methods to explore these cultures and their interaction with different financial orders to improve our understanding of financial crisis dynamics. The introduction identifies types of cultural turn in studies of finance. Part I outlines relevant research methods, including comparison of national cultures viewed as independent variables, cultural political economy, and critical discourse and narrative policy analysis. Part II examines different institutional cultures of finance and the cult of entrepreneurship. Part III offers historical, comparative, and contemporary analyses of financial regimes and their significance for crisis dynamics. Part IV explores organizational cultures, modes of calculation, and financial practices and how they shape economic performance and guide crisis management. Part V considers crisis construals and responses in the European Union and China. This book’s great strength is its multi-faceted approach to cultures of finance. Contributors deploy the cultural turn creatively to enhance comparative and historical analysis of financial regimes, institutions, organizations, and practices as well as their roles in crisis generation, construal, and management. Developing different paradigms and methods and elaborating diverse case studies, the authors illustrate not only how and why ‘culture matters’ but also how its significance is shaped by different financial regimes and contexts.

Nonlinear Dynamics of Financial Crises

Nonlinear Dynamics of Financial Crises PDF

Author: Ionut Purica

Publisher: Academic Press

Published: 2015-03-28

Total Pages: 125

ISBN-13: 0128032766

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When just a handful of economists predicted the 2008 financial crisis, people should wonder how so many well educated people with enormous datasets and computing power can be so wrong. In this short book Ionut Purica joins a growing number of economists who explore the failings of mainstream economics and propose solutions developed in other disciplines, such as sociology and evolutionary biology. While it might be premature to call for a revolution, Dr. Purica echoes John Maynard Keynes in believing that economic ideas are "dangerous for good or evil." In recent years evil seems to have had the upper hand. "Nonlinear Dynamics of Financial Crises" points to their ability to do good. Makes complex economics ideas accessible by carefully explaining technical terms and minimizing mathematics and equations Delivers easily-understood perspectives about the global economy by constructing broad assumptions and conclusions in the face of its infinitely complexity Challenges received economic ideas by focusing on human behavior and the roles it plays in easily-observable recent trends and events

Money and Finance After the Crisis

Money and Finance After the Crisis PDF

Author: Brett Christophers

Publisher: John Wiley & Sons

Published: 2017-09-05

Total Pages: 274

ISBN-13: 1119051436

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Money and Finance After the Crisis provides a critical multi-disciplinary perspective on the post-crisis financial world in all its complexity, dynamism and unpredictability. Contributions illuminate the diversity of ways in which money and finance continue to shape global political economy and society. A multidisciplinary collection of essays that study the geographies of money and finance that have unfolded in the wake of the financial crisis Contributions discuss a wide range of contemporary social formations, including the complexities of modern debt-driven financial markets Chapters critically explore proliferating forms and spaces of financial power, from the realms of orthodox finance capital to biodiversity conservation Contributions demonstrate the centrality of money and finance to contemporary capitalism and its political and cultural economies

Macroeconomics and Financial Crises

Macroeconomics and Financial Crises PDF

Author: Gary B. Gorton

Publisher: Princeton University Press

Published: 2023-07-11

Total Pages: 208

ISBN-13: 0691227012

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"After the Great Depression John Maynard Keynes led the way in building a new macroeconomic framework to deal with that unprecedented economic reality. Ten years after our own crisis, however, macroeconomics has not come to terms with how to grapple with the idea of financial crises in its models. In the stylized world of macroeconomic theory, crises are not an inherent or structural element. Gary Gorton and Guillermo Ordonez, who were prominent experts to first authoritatively respond to the financial crisis of 2008 have since been working to understand what needs to change in macroeconomic models to incorporate and address financial crises. In this book Gorton and Ordonez provide an authoritative first step on how to rebuild macroeconomics in a way that can take into account financial crises, and they make a strong case that we need to rethink things at a fundamental level. In the book they bring together ten years of work on what needs to happen. Their two key ideas of what has missing are information and credit. More specifically, how information and credit interact, for example, when investors learn that certain types of debt aren't safe investments and we see bank runs. Gorton and Ordonez provide a way to model this interaction and a roadmap of how to incorporate it into a macroeconomic equilibrium"--

The Pedagogy of Economic, Political and Social Crises

The Pedagogy of Economic, Political and Social Crises PDF

Author: Bob Jessop

Publisher: Routledge

Published: 2018-11-07

Total Pages: 292

ISBN-13: 135166574X

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Crises have been studied in many disciplines and from diverse perspectives for at least 150 years. Yet recent decades have seen a marked increase in the crisis literature, reflecting growing awareness of crisis phenomena from the 1970s onwards. Responding to this mainstream literature, this edited collection makes six key innovations. First, it distinguishes between crises as event and crises as process, as well as crises as accidental events or as the result of system-generated processes. Second, it distinguishes crises that can be managed through established crisis-management routines from crises of crisis management. Third, it focuses on the symptomatology of crisis, i.e., the challenge of moving crisis symptoms to understanding underlying causes as a basis for decisive action. Fourth, it goes beyond the cliché that crises are both threat and opportunity by distinguishing valid accounts of the origins and present nature of a crisis, from more speculative accounts of what potentially exists. Fifth, it explores how crises can disorient conventional wisdom, thus provoking efforts to interpret and learn about crises and draw lessons after a crisis has ended. Finally, the sixth element is the move away from the conventional focus on executive authorities and disaster management agencies, instead turning attention towards how other social forces construe crises and attempt to learn from them. Offering important insights into the pedagogy of crisis throughout, this collection will offer excellent reading to both researchers and postgraduate students.

Narrating the Global Financial Crisis

Narrating the Global Financial Crisis PDF

Author: Miriam Meissner

Publisher: Springer

Published: 2017-05-25

Total Pages: 252

ISBN-13: 3319454110

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This book analyzes how the Global Financial Crisis is portrayed in contemporary popular culture, using examples from film, literature and photography. In particular, the book explores why particular urban spaces, infrastructures and aesthetics – such as skyline shots in the opening credits of financial crisis films – recur in contemporary crisis narratives. Why are cities and finance connected in the cultural imaginary? Which ideologies do urban crisis imaginaries communicate? How do these imaginaries relate to the notion of crisis? To consider these questions, the book reads crisis narratives through the lens of myth. It combines perspectives from cultural, media and communication studies, anthropology, philosophy, geography and political economy to argue that the concept of myth can offer new and nuanced insights into the structure and politics of popular financial crisis imaginaries. In so doing, the book also asks if, how and under what conditions urban crisis imaginaries open up or foreclose systematic and political understandings of the Global Financial Crisis as a symptom of the broader process of financialization.

Preventing Regulatory Capture

Preventing Regulatory Capture PDF

Author: Daniel Carpenter

Publisher: Cambridge University Press

Published: 2014

Total Pages: 531

ISBN-13: 1107036089

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Leading scholars from across the social sciences present empirical evidence that the obstacle of regulatory capture is more surmountable than previously thought.

Times of Crisis

Times of Crisis PDF

Author: Michel Serres

Publisher: Bloomsbury Publishing USA

Published: 2015-09-24

Total Pages: 90

ISBN-13: 1501307894

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For Michel Serres, economic crises are earthquakes caused by societal tectonic plates. The current crisis erupted because of the widening discrepancy between major social changes and institutions that have remained the same since WWII. Serres, one of the first to bring nature into the political, writes, "To destroy, kill, exploit is worthless. In the long run, it means destroying ourselves." At a time when the world population has grown so much that it is exhausting natural resources and the environment, we need to rethink cultural, social, and political dynamics. Serres argues that geopolitics and economics will no longer be a two-player game, between West and East, for example, but a three-player one, in which is Earth will be the third partner. This book is one of hope as it calls for a new world and extols the importance of science for our future and political institutions. Here, Serres demonstrates an optimistic outlook in a clear and luminous language that offers new paths for reflection and, ultimately, a better life for Earth and its inhabitants.

Memenomics

Memenomics PDF

Author: Said Dawlabani

Publisher: SelectBooks, Inc.

Published: 2013-09

Total Pages: 338

ISBN-13: 1590791312

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The term “vMEME” (the superscript “v” is for “value”) refers to a core value system expressed through a culture’s memes, i.e., its ideas, habits, and cultural preferences and practices that spread from person to person. In MEMEnomics Said E. Dawlabani reframes our economic history and the future of capitalism through the unique prism of a culture’s value systems. Focusing on the long-term effects of economic policies on society, he expands psychologist Clare W. Graves’ concepts of the hierarchical nature of human development and the theories of value systems of Beck and Cowan’s Spiral Dynamics. He presents our economic history in terms of the hierarchy of five of the eight value-systems or vMEMEs of human existence that we can now identify. These new value preferences emerge as people interact with their environment to solve the problems of their “life conditions.”