Tag Archives: finance

The Growth of Shadow Banking and State-Finance Relations

by Matthias Thiemann* How can we understand the growth of a system of credit provisioning outside of the realm of bank regulation since the 1970s which linked non-banks and banks in a convoluted system of market-based banking, securitization and wholesale … Continue reading

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Elite Men and Inequality in the Hedge Fund Industry

by Megan Tobias Neely* “I’m sorry, but so and so’s brother needed to get hired. Shit happens,” Karen recounted, with resignation, a time her boss denied her a promotion. Karen is a white woman who works at a hedge fund, a … Continue reading

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Who is in Control of Markets: Humans or Financial Models?

by Ekaterina Svetlova* The recent stock market correction raised again the question of who is in control of markets: humans or technology. Nasdaq CEO Adena Friedman said on CNBC that „humans are definitely in charge of the decisions in the market” … Continue reading

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Yes We Got Money

That money talks, I’ll not deny, I heard it once: It said, ‘Goodbye’. (Richard Armour) “Yes We Got Money” by Klaus Langer *** Join the Economic Sociology and Political Economy community via Facebook / Twitter / LinkedIn / Google+ / Instagram / Tumblr

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How 19th century finance and housing associations shaped 20th century housing regimes in Germany and the United States

Why has Germany become a country of tenants with a housing policy directed at private and public rental construction? On the other hand, why has the United States turned into a homeownership country? In an interesting article, Sebastian Kohl (University … Continue reading

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Financialization as a state project

Financialization is a key feature of neoliberalism. It refers to the capturing impact of financial markets, institutions, actors, instruments and logics on the real economy, labor, households and daily life. Essentially it has significant implications for the broader patterns and functioning of an … Continue reading

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Debt to Society: Accounting for Life under Capitalism

Miranda Joseph‘s important and interesting book Debt to Society: Accounting for Life under Capitalism is a timely scholarly endeavour to understand, what I once termed Neoliberal Pauperism. Joseph’s research focuses on one of the key practices related to debt’ control – accounting and quantification. It studies modes … Continue reading

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What is financialization? Marxism, Post-Keynesianism and Economic Sociology’s complementary theorizing

The economic crisis erupted in 2007-2008, commonly known around the world as the Global Financial Crisis and in the US as the Great Recession, highlighted – for those who deliberately or unintentionally have in recent years overlooked – the ascendancy of finance, a … Continue reading

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Financial economics, or “Would you please elaborate on ‘then something bad happened’?”

“Would you please elaborate on ‘then something bad happened’?”

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Pope Francis against neoliberalism, finance capitalism, consumerism and inequality

In November 2013 Pope Francis issued his first Apostolic Exhortation translated into English as The Joy of the Gospel. Over 224 pages, in remarkably direct and plain,  but plentiful, language, Pope Francis – the first Pope from the Global South – outlines his vision on … Continue reading

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James Tobin on ‘paper economy’ and short-sighted speculation-generating financial instruments

Nobel laureate in Economic Sciences James Tobin wrote at the conclusion of his “On the Efficiency of the Financial System” paper: “We are throwing more and more of our resources, including the cream of our youth, into financial activities remote from the … Continue reading

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“Debt: Ethics, the Environment and the Economy”: the concept of indebtedness in its various senses and perspectives

From personal ‪‎finance‬ and consumer spending to ballooning national expenditures on warfare and social ‪welfare‬, debt is fundamental to the dynamics of global capitalism. This timely and broad volume, adited by Peter Y. Paik and Merry Wiesner-Hanks (University of Wisconsin-Milwaukee), … Continue reading

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The history of money and its “divine” metamorphosis in the 20th century

A noted cultural anthropologist Professor Jack Weatherford observed in his fascinating The History of Money: “In the 20th century, we saw money turn rapidly from paper into plastic and then into mere electronic blips generated in computers, transferred over telephone … Continue reading

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From Mark Twain’s observation on October stock market to Randy Martin’s on financialization of daily life

We are in mid-October, stock exchange indexes are falling and economic journalists are shouting and wondering: is the next October stock market crash approaching? That’s a good occasion to recall a good old Mark Twain’s observation: “October: This is one of the peculiarly … Continue reading

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Scots, Save the Finance Capitalism!

It is fascinating to observe how the knights of the Neoliberal Globalism: economists (mainstream, sort of critical towards mainstream and those who sought repentance such as Jeffrey Sachs), the business elite, the nowadays’ robber barons, and their couriers in the … Continue reading

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