Capitalizing on Crisis: The Political Origins of the Rise of Finance [Greta R. Krippner] on *FREE* shipping on qualifying offers. In the context of the. Paperback. $ Capitalizing on Crisis: The Political Origins of the Rise of Finance by Greta R. Hardcover. $ Next page. Books By Greta R. Krippner. PDF | On Jan 1, , Frank Dobbin and others published Review of Greta Krippner, Capitalizing on Crisis: The Political Origins of the Rise of Finance.

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I n the context of the recent financial crisis, the extent to which the Gretaa. Financialization occurred in phases, in which households, corporations, and the state passed debt around like a hot potato.

An Enquiry into the Origins of Cultural Change. See there the answer of Wolfgang Streeck https: In the US, in Iceland, in Spain, in South Africa, in England, contestation of political regimes seems to be linked to financialization. Again and again, I saw the same pattern in my research: She is also working on a book project that explores the problem of market freedom in American historical development.

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Les Classes sociales en Europe. The book focuses on deregulation of financial markets during gretw s and s, encouragement of foreign capital into the U.

Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late s and s.

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This is even clearer in comparative research. Available for download now. Democracy and the politics of credit relation. Amazon Drive Cloud storage from Amazon.

What is your own definition of financialization? I was particularly influenced in those days by the French regulation school — kripner body of work that raised questions about what had changed in the s that seemed to so dramatically alter the dynamics of capitalist economies.


While many aspects of financialization were inadvertent as we already discussedI think policymakers understood one thing very well: The book has received some criticism for downplaying the power of financial actors and the complicity of the state in underwriting so to speak this power.

That we would expect them to immediately grasp the nature of these markets seems unrealistic, and offers a caution against reading the past krippjer much from the perspective of the present rather than, to return to the earlier discussion of historical methods, reading the present rkippner the vantage point of the past.

I am examining this problem in the context of the evolution of insurance markets. As a sociologist, most of the assumptions that are embedded in standard micro-economic models I reject, and unfortunately many of these assumptions are consequential for how we understand the world and cannot simply be set to one side.

Until ktippner mortgage market imploded infinancialization seemed to assuage rather than amplify social and political conflict, as I argued in Capitalizing on Crisis.

University of Minnesota Press. In Capitalizing on Crisi s, Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.

However, your work is often critical of mainstream economics.

In contrast, consider the apparent weakness of the borrower in the credit market, where we start from the assumption of inequality rather than equality! How does it relate to growing global inequalities?

Greta R. Krippner | U-M LSA Sociology

Things have really changed in the intervening years, of course. This itself may not be news to observers of American political economy, but what I think is novel in my argument is the observation that the potency of the discourse of ownership derives in part from the collective nature of these claims.


This figure actually represents a conservative estimate of financialization insofar as it presents a simple sectoral i. When compared to your first book, this question seems to be a shift in you research, which now focuses more on inequalities and wealth redistribution. Historians of the tax revolt, however, have demonstrated that the origins grefa the movement were not individualistic at all, but reflected deeply entrenched communal solidarities: Following the collapse of financial markets, in the United States as around the world, we saw a resurgence — at least temporarily — of a kind of rationing in credit markets that we had not seen for some time.

It is linked to a specific ideology? The first is that, in a very basic sense, to understand something is to trace the process of its emergence. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather a way — as inflation has been before — for the state to preclude and allay social class backlash in the context of growing inequality. But as your question suggests, these tensions were not soothed indefinitely, and in the context of more difficult economic conditions, gteta have inevitably krippjer.

What we are seeing here is the re-emergence of a historical pattern that Giovanni Arrighi and Beverly Silver observed in Chaos and Governance: Why Choose Michigan Sociology?

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