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Author: Lourdes Sola
Publisher: Centre for Brazilian Studies
ISBN:
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
Banking and finance are often studied as specialized domains, governed by their own esoteric rules and concepts, and best cordoned off from broader comparative, historical and political considerations. This book develops an alternative approach. It focuses on the recent, strikingly deviant, experience of Brazil but goes well beyond that single case. It assesses financial sector reform and the consolidation of legitimate monetary authority in an era of globalization and democratization, and advocates the adoption of a holistic and contextualized perspective. It explores the cumulative potential of an incremental 'statecrafting' approach, in contrast to recently fashionable technical 'fixes' such as the idea that central bank independence provides a reliable and universal remedy for all monetary ills.
Author: Lourdes Sola
Publisher: Centre for Brazilian Studies
ISBN:
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
Banking and finance are often studied as specialized domains, governed by their own esoteric rules and concepts, and best cordoned off from broader comparative, historical and political considerations. This book develops an alternative approach. It focuses on the recent, strikingly deviant, experience of Brazil but goes well beyond that single case. It assesses financial sector reform and the consolidation of legitimate monetary authority in an era of globalization and democratization, and advocates the adoption of a holistic and contextualized perspective. It explores the cumulative potential of an incremental 'statecrafting' approach, in contrast to recently fashionable technical 'fixes' such as the idea that central bank independence provides a reliable and universal remedy for all monetary ills.
Author: Matthias Goldmann
Publisher: Springer
ISBN: 3662555689
Category : Law
Languages : en
Pages : 228
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Book Description
This book discusses the relationship between democracy and the financial order from various legal perspectives. Each of the nine contributions adopts a unique perspective on the legal and political challenges brought to the fore by the Global Financial Crisis. This crisis and the ensuing sovereign debt crisis in Europe are only the latest in a long series of financial crises around the globe in recent decades. By their very existence, but also as a result of the political turmoil they have created, these financial crises testify to the well-known tensions between democracy and a market-based economic and financial order. However, what is missing in this debate is an analysis of the role of law for reconciling democracy with a market-based financial order. To fill this lacuna, the book focuses on the controversy surrounding the concept of law, thereby adding another variable to the debate on the relation between democracy and capitalism. Each chapter addresses the concept of law from a particular theoretical angle, be it a full-grown legal theory or an approach in political economy that has a particular view of the law.
Author: Matthias Goldmann
Publisher:
ISBN:
Category :
Languages : en
Pages : 204
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Book Description
This special issue assembles eight articles on the relationship between democracy and the financial order from various legal perspectives. Each article engages with the concept of law from a particular theoretical angle, be it a full-grown legal theory or an approach in political economy that has a particular view of the law. We have arranged the special issue in order to reflect certain debates. Thus, the special issue begins with a debate between two contemporary German theories of law by Jürgen Habermas (Goldmann and Steininger) and Niklas Luhmann (Viellechner). Next is a transatlantic debate between rational choice conceptions of law (Towfigh) and ideas of constitutional pluralism (Avbelj). Different traditions of mostly Anglo-Saxon liberalism are reflected in the contribution by Suttle. Eventually, three contributions engage with conceptions of law in neoliberalism and ordoliberalism and the way they have shaped our perceptions of public finance, including budgetary rules, taxes, and money (Biebricher, Saffie, Feichtner).To connect theory with life, each contribution elaborates its salient theoretical points by using an example of a particular case study or issue area that faces challenges in the aftermath of the financial crisis. Thus, while all articles address the law's capacity to accommodate both democracy and capitalism, each individually contributes to the development of law and policy in a particular issue area. Topics range from sovereign debt issues (Goldmann and Steininger, Viellechner, Suttle) to budgetary restrictions (Biebricher), banking regulation (Avbelj), money and the ECB (Towfigh and Feichtner), and taxes (Saffie).
Author: Mallory E. SoRelle
Publisher: University of Chicago Press
ISBN: 022671182X
Category : Political Science
Languages : en
Pages : 302
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Book Description
As Elizabeth Warren memorably wrote, “It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house. But it is possible to refinance an existing home with a mortgage that has the same one-in-five chance of putting the family out on the street.” More than a century after the government embraced credit to fuel the American economy, consumer financial protections in the increasingly complex financial system still place the onus on individuals to sift through fine print for assurance that they are not vulnerable to predatory lending and other pitfalls of consumer financing and growing debt. In Democracy Declined, Mallory E. SoRelle argues that the failure of federal policy makers to curb risky practices can be explained by the evolution of consumer finance policies aimed at encouraging easy credit in part by foregoing more stringent regulation. Furthermore, SoRelle explains how angry borrowers’ experiences with these policies teach them to focus their attention primarily on banks and lenders instead of demanding that lawmakers address predatory behavior. As a result, advocacy groups have been mostly unsuccessful in mobilizing borrowers in support of stronger consumer financial protections. The absence of safeguards on consumer financing is particularly dangerous because the consequences extend well beyond harm to individuals—they threaten the stability of entire economies. SoRelle identifies pathways to mitigate these potentially disastrous consequences through greater public participation.
Author: H.J. Blommestein
Publisher: Springer Science & Business Media
ISBN: 9401583668
Category : Political Science
Languages : en
Pages : 326
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Book Description
Government and Markets is the first book to tackle systematically and in a multidisciplinary fashion the role of democratic governments during and after the transition from plan to market. The role of governments during the transformation is important for eliminating the obstacles and putting into place the conditions for the emergence of a viable market economy. Moreover, governments need to play a key role in establishing a political-legal order that promotes political liberties and economic freedom. In contrast to other literature on the transformation process in formerly planned systems, this volume focuses also on the creation of autonomous and accountable governments as part of the liberal economic order. Finally, the volume analyzes the role of the legal state in creating a competitive market economy. Government and Markets addresses itself to scholars, politicians policy makers interested in the establishment of a democratic, competitive order in formerly planned political economic systems.
Author: Mary Mellor
Publisher: Pluto Press (UK)
ISBN: 9780745335551
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 0
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Book Description
A clear case for the common ownership of money as a solution to the financial crisis
Author: Daron Acemoglu
Publisher: Cambridge University Press
ISBN: 9780521855266
Category : Business & Economics
Languages : en
Pages : 444
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Book Description
This book develops a framework for analyzing the creation and consolidation of democracy. Different social groups prefer different political institutions because of the way they allocate political power and resources. Thus democracy is preferred by the majority of citizens, but opposed by elites. Dictatorship nevertheless is not stable when citizens can threaten social disorder and revolution. In response, when the costs of repression are sufficiently high and promises of concessions are not credible, elites may be forced to create democracy. By democratizing, elites credibly transfer political power to the citizens, ensuring social stability. Democracy consolidates when elites do not have strong incentive to overthrow it. These processes depend on (1) the strength of civil society, (2) the structure of political institutions, (3) the nature of political and economic crises, (4) the level of economic inequality, (5) the structure of the economy, and (6) the form and extent of globalization.
Author: Tamara Lothian
Publisher: Columbia University Press
ISBN: 9780231174671
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
Tamara Lothian shows a path to the reconstruction of the economy in the service of both growth and inclusion that would reignite economic growth by democratizing the market. Law and the Wealth of Nations offers a progressive approach to the supply side of the economy and proposes innovation in our fundamental economic arrangements.
Author: Matthias Goldmann
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In this paper, we study the role of law for squaring democracy with a market-based financial order. We approach this issue on the basis of Jürgen Habermas' discourse theoretical understanding of the role of law in the welfare state. Accordingly, law needs to be enforceable; law-making and law-application need to be institutionally separated; and public law needs to be distinguishable from private law. The contemporary practice of sovereign debt restructuring reveals some empirical and normative challenges to this understanding of the law. These findings inform our proposals for conceptual and institutional improvements that might lead to a more harmonious relation between democracy and financial order. In particular, we argue that a discourse theoretical understanding should tap on the legitimating potential of existing transnational discourses that are characterized by cross-border cleavages in public discourse.
Author: Helmut Willke
Publisher: Campus Verlag
ISBN: 3593399881
Category : Business & Economics
Languages : en
Pages : 285
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Book Description
Five years have past since the outbreak of one of the worst financial crises the world has ever witnessed. Yet, despite an exceedingly diverse range of publications available to date, central questions have remained unanswered. Indeed, systemic risk has become both a buzzword, and has developed into an acute threat. But what exactly constitutes the very essence of the concept? And might it be considered an economic or rather a political phenomenon? Book jacket.
