Tag Archives: crisis

Rethinking Central Bank Independence

Posted on August 24, 2020 by Oleg Komlik

by Vadym Syrota* Nowadays global economy faces a slightly controversial type of crisis: despite looming economic recession, states, business and households find themselves in the environment of, what The Economist called, “free money”. Central banks are to be credited for … Continue reading →

Posted in Community members posts | Tagged central banking, crisis, globalization, Political economy | 1 Comment

Keeping Business Alive: The Government as a Payer of Last Resort

Posted on March 22, 2020 by Oleg Komlik

by Emmanuel Saez & Gabriel Zucman* The coronavirus threatens the world’s economic life. The most important message that needs to come from heads of state immediately, even before any new law or complete implementation details are provided, is: “Do not … Continue reading →

Posted in Community members posts | Tagged COVID-19, crisis, policy, unemployment | 2 Comments

Market Sentiment and the Ingenuity of the Markets

Posted on February 9, 2018 by Oleg Komlik

In a brilliant sketch by John Bird and John Fortune, aired during The South Bank Show on 14 October 2007, these British satirists trace the very workings of financial markets and the outbreak of the subprime crisis. Tragicomedy at its best…! *** Join Economic Sociology … Continue reading →

Posted in Funny, Video | Tagged crisis, financial markets | 2 Comments

China’s Minsky moment? Stability leads to instability

Posted on August 24, 2015 by Oleg Komlik

Hyman Minsky (1919–1996) was a distinguished American scholar and prominent post-Keynesian economist. In the wake of the 2008-2009 crisis Minsky’s invaluable scientific contribution has widely spread, but soon he has unfortunately disappeared from public and economic discussions. While most of the mainstream economists are … Continue reading →

Posted in Papers | Tagged banking system, capitalism, crisis, financial crisis, financial markets, financialization, Hyman Minsky, neoliberalism | 4 Comments

Economic Consequences of Neoliberalism: Coping with Financial Crises

Posted on June 27, 2015 by Oleg Komlik

John Maynard Keynes: “The power to become habituated to his surroundings is a marked characteristic of mankind. Very few of us realize with conviction the intensely unusual, unstable, complicated, unreliable, temporary nature of the economic organization by which Western Europe … Continue reading →

Posted in Papers | Tagged crisis, Europe, ideas, institutions, neoliberalism, policy, Political economy | 3 Comments

Why and when do governments appoint economists and economics-trained politicians?

Posted on April 25, 2015 by Oleg Komlik

Should policymakers – politicians and high-level state officials – be experts in their fields? Does professional competence effect public policies at all? And does it prove itself? These, undoubtedly, important issues to be discussed and researched. But in order to … Continue reading →

Posted in Papers | Tagged central banking, crisis, economics, European Union, knowledge, neoliberalism, OECD, policy, politics, professionals | 1 Comment

What is money? Can we grasp the current state of the economy as a crisis of money itself?

Posted on January 2, 2015 by Oleg Komlik

The latest crisis has incited substantial conversation about debt, banking, financialization, and the commodification of everyday life. All these issues are inherently related to money. But what exactly is money? Where does it come from? Who does make our money … Continue reading →

Posted in Books | Tagged banking, capitalism, credit, crisis, debt, Economic Sociology, economics, money, valuation | 2 Comments

The original email that started Occupy Wall Street

Posted on December 27, 2014 by Oleg Komlik

On September 17, 2011 thousands of women and men gathered in Zuccotti Park, located in New York City’s Wall Street financial district. It was a day when Occupy Wall Street (#OccupyWallStreet) movement was publicly born, gradually receiving global attention and spawning the … Continue reading →

Posted in Books | Tagged capitalism, crisis, democracy, inequality, neoliberalism, Occupy Wall Street, social movements, United States | 11 Comments

Gendering the Recession: Media, Culture and the Reemergence of Gender Tropes

Posted on October 17, 2014 by Oleg Komlik

Gendering the Recession: Media and Culture in an Age of Austerity is an interesting book which provides analyses of a recession-era media culture characterized by the reemergence and refashioning of familiar gender tropes, including crisis masculinity, coping women, and postfeminist self-renewal. … Continue reading →

Posted in Books | Tagged crisis, Culture, gender, media | 1 Comment

What crisis? Everything must (not) change so that the IMF can remain the same.

Posted on September 25, 2014 by Oleg Komlik

During the last years, some economists at the International Monetary Fund (IMF) have presented papers, that allegedly rejected several neoliberal ideas (on a range of issues, from ﬁscal policy to capital controls) which have been preached and enforced by its … Continue reading →

Posted in Papers | Tagged ‎market‬ ‪‎fundamentalism, crisis, economics, fiscal policy, global governance, IMF, monetary policy | Leave a comment

Who Are the Foreclosed? A portrait of Americans displaced by the mortgage foreclosure crisis

Posted on September 13, 2014 by Oleg Komlik

Based on data from the National Suburban Survey from September 2010, Christopher Niedta & Isaac William Martin found that the person who has experienced home mortgage foreclosure since September 2007 resembles the average American but is somewhat likely to be … Continue reading →

Posted in Papers | Tagged crisis, housing, inequality, poverty, subprime mortgage crisis, United States | Leave a comment

The Causes of Structural Unemployment: Socio-political and Economic perspectives on Changes in Labor Markets

Posted on September 12, 2014 by Oleg Komlik

The Causes of Structural Unemployment skillfully integrates socio-political and economic perspectives to highlight the major changes in the structure of labor markets in affluent industrialized nations. Recent years have seen growing concern over declining jobs, and though corporate profits have picked up … Continue reading →

Posted in Books | Tagged crisis, financialization, globalization, inequality, labor, neoliberalism, shareholder value, sociology of work, unemployment | Leave a comment

“Crisis, Value & Hope: Rethinking the Economy” — Current Anthropology special issue

Posted on September 4, 2014 by Oleg Komlik

“Crisis, value, and hope are three concepts whose intersection and mutual constitution open the door for a rethinking of the nature of economic life away from abstract models divorced from the everyday realities of ordinary people, the inadequacies of which … Continue reading →

Posted in Papers | Tagged anthropology, credit, crisis, debt, financialization, money, valuation | Leave a comment

What Class is all about? How do Neoliberalism and Finance Capitalism work?

Posted on June 22, 2014 by Oleg Komlik

In this concise and instructive animated presentation (12 min), an economist Richard D. Wolff (University of Massachusetts, Amherst) tackles these questions and applies them to the 2007-8 “subprime crisis”. *** Join Economic Sociology and Political Economy community via Facebook / Twitter / LinkedIn / Google+ / Instagram / Tumblr / Reddit / Telegram

Posted in Video | Tagged class, crisis, neoliberalism, Real estate, United States | Leave a comment

Joseph Stiglitz: ‘Free markets’ as a religious belief

Posted on June 11, 2014 by Oleg Komlik

Joseph Stiglitz: “The advocates of free markets in all their versions say that crises are rare events, though they have been happening with increasing frequency as we change the rules to reflect beliefs in perfect markets. I would argue that … Continue reading →