scholarly journals The folds of social finance: Making markets, remaking the social

2018 ◽  
Vol 52 (1) ◽  
pp. 130-147 ◽  
Author(s):  
Paul Langley
Keyword(s):  
Economic Geography ◽  
Critical Analysis ◽  
Global Financial Crisis ◽  
Topological Analysis ◽  
Social Economy ◽  
Social Utility ◽  
Cultural Economy ◽  
Social Purpose ◽  
The Social ◽  
The Global Financial Crisis

The global financial crisis acted as a spur to ‘social finance’, a loose grouping of markets demarcated on the grounds of their ostensible social purpose. This article’s critical analysis of social finance contributes to cultural economy research into marketization processes in economic geography and allied fields. First, responding to calls for greater attention to be given to heterogeneous and variegated market-making processes ‘on the ground’, social finance is analysed as a relatively discrete and hybrid modality of marketization that makes possible the valuation and capitalization of the social economy to address collective social problems. Second, moving beyond topographical accounts that understand geographies of marketization as ‘taking place’ through the outward expansion of the market’s imagined boundaries, Gilles Deleuze’s concept of ‘the fold’ is elaborated upon to develop a topological analysis of the spatial constitution of social finance markets. The folds of social finance are seams of inflection, entanglements where the social utility typically lacking from mainstream finance is variously spliced and stitched into marketization processes. In social finance markets-in-the-making, ‘the social’ is also shown to be remade as an array of thoroughly liberal associations and subjectivities that are, at once, pluralist, ethical and entrepreneurial.

The challenges of inclusive growth for the developmental welfare state

2017 ◽  
Author(s):  
Huck-ju Kwon
Keyword(s):  
Social Policy ◽  
Financial Crisis ◽  
Economic Model ◽  
Global Financial Crisis ◽  
Policy Implications ◽  
What Works ◽  
Nation States ◽  
The Social ◽  
The One ◽  
The Global Financial Crisis

One of the biggest challenges for developing a new more productivist social policy approach has been the apparent absence of a new, post-neoliberal, economic model even after the global financial crisis. This chapter explores the social policy implications of the official ‘pragmatism’ of the new economic model with its ‘institutionalist’ emphases on nation states finding what works best in their own contexts rather than looking to the one size fits all approach of recent decades.

scholarly journals Financial cycle − A critical analysis of the methodology for its identification

2021 ◽  
Vol 10 (3) ◽  
pp. 99-116
Author(s):  
Łukasz Kurowski
Keyword(s):  
Economic Policy ◽  
Critical Analysis ◽  
Global Financial Crisis ◽  
Critical Perspective ◽  
Financial Cycle ◽  
Economic Justification ◽  
The Business Cycle ◽  
The Global Financial Crisis

Abstract While the legitimacy of the concept of the financial cycle (as distinct from the business cycle) in research and economic policy after the experience of the global financial crisis raises no concerns, the methodology for its application has become a subject of discussion. The purpose of this article is to indicate which research methods dominate in identifying a financial cycle and which methodological traps accompany them. The low level of critical perspective on the methods used to identify cycles often results in conclusions that have no economic justification and may result in erroneous decisions in economic policy and central bank practice. The case study carried out in the article confirms that the key elements in identifying a financial cycle are part of a long-term series covering at least two lengths of the financial cycle. In addition, because the results may be sensitive to the type of filter used, it is important not to rely on a single variable but rather to build indexes that take into account a number of them (including those obtained using filtration methods).

scholarly journals The social orientations and ideologies of UK finance employees at the onset of the Global Financial Crisis

2016 ◽  
Vol 41 (2) ◽  
pp. 239-261 ◽  
Author(s):  
Andreas Cebulla
Keyword(s):  
Financial Crisis ◽  
Financial Services ◽  
Global Financial Crisis ◽  
Panel Data Analysis ◽  
The United Kingdom ◽  
The Social ◽  
Management Positions ◽  
Behavioural Factors ◽  
The Global Financial Crisis ◽  
Economic Fairness

Debates about the Global Financial Crisis of 2007 have pointed at institutional and individual-behavioural factors as its causes. Using the British Household Panel Survey, this article highlights marked differences in perceptions of societal and economic fairness among financial services employees in investment or management positions in the United Kingdom and the general working population at the brink of the Global Financial Crisis. Panel data analysis suggests that financial services and occupations did not necessarily attract employees with pro-market attitudes, but that employment in these institutions and occupations made it more likely that employees came to display these perceptions, contributing to the construction of a distinct attitudinal profile of finance employees.

scholarly journals Doing Good or Avoiding Evil? An Explorative Study of Depositors’ Reasons for Choosing Social Banks in the Pre and Post Crisis Eras

2020 ◽  
Vol 12 (23) ◽  
pp. 10082 ◽  
Author(s):  
Nikolas Höhnke
Keyword(s):  
Financial Crisis ◽  
Online Survey ◽  
Global Financial Crisis ◽  
Target Groups ◽  
The Social ◽  
Before And After ◽  
Great Relevance ◽  
Conventional Banks ◽  
The Individual ◽  
The Global Financial Crisis

The global financial crisis is expected to be of great relevance for social banks’ growth of deposits. However, it is still unclear why depositors choose social banks in general, and how the global financial crisis has affected depositors’ choice of social banks. The present paper thus explores a comprehensive set of reasons for choosing social banks, the individual relevance of reasons, as well as differences before and after the global financial crisis. Data was collected through a survey of five social banks, interviews with nine industry experts, and an online survey with 108 social and 413 conventional depositors. Using content analysis, a multi-level system of reasons for choosing social banks was identified, which refers to the social banks’ “good” and conventional banks’ “evil” characteristics. Based on a frequency analysis of codings per category, reasons with potential superior relevance for depositors’ decision-making were explored. A comparison with reasons for choosing conventional banks imply that depositors’ reasons for choosing social banks differ from those for choosing conventional banks in general. The results also indicate that the global financial crisis might have helped social banks’ growth by attracting new customer target groups, who chose social banks because of conventional banks’ “evil” characteristics.

scholarly journals Global Financial Crisis of Islamic and Conventional Banking in Middle East – A Case Study in Turkey

2017 ◽  
Vol 9 (8) ◽  
pp. 239
Author(s):  
Ayman Abdal-Majeed Ahmad Al-Smadi ◽  
Mahmoud Khalid Almsafir ◽  
Muzamri Bin Mukthar
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Banking System ◽  
Financial System ◽  
Secondary Data ◽  
Islamic Banking ◽  
The Social ◽  
The Global Financial Crisis ◽  
The Impact

The financial tools all over the world become extremely decisive in these days. The main goal of this paper is to measure then to discuss the impact of performance of conventional and Islamic banking in Turkey during the financial crisis. some variables such as profitability, liquidity, operational efficiency and business growth are used as a measuring factor to determine the performance for both financial models. The period of study is taken during the financial crisis in 1997 and during the global financial crisis in 2007. The comparison in this study is made between the performances of Islamic banking  and conventional banking in Turkey.Some secondary data had examines in this study which was drown from the annual report from one of Turkey bank since 2002 until 2013. SPSS (Statistical Package for the Social Sciences) “18.0” has been used to compare between Islamic finance model and other model. The findings of this paper shows that Islamic financial system is performing superior than conventional financial system for the period of this study. Hence, it can be concluded that the system of Islamic banking is able to sustain and compete with the conventional banking system especially during any financial crisis.

scholarly journals PRESENTACIÓN

2020 ◽  
Vol 32 (3) ◽  
pp. 887
Author(s):  
Federico Steinberg
Keyword(s):  
World War Ii ◽  
Global Financial Crisis ◽  
International System ◽  
International Economic Order ◽  
World War ◽  
The Great Recession ◽  
The Social ◽  
Relative Decline ◽  
The Global Financial Crisis ◽  
Emerging Powers

In recent years, the world economy is undergoing major structural transformations that are questioning the international economic order in effect since World War II, while putting in check the social contract in which stability was established in advanced democracies. The rise of the emerging powers, the global financial crisis of 2008 and the Great Recession that has followed it, the challenges associated with the emergence of the knowledge economy or climate change and the increase in inequality, to mention just a few issues, they are forcing governments to rethink the management of an increasingly intense economic interdependence to respond to new global problems. But this rethinking occurs precisely at a time of change in the balances of power in the international system (characterized by the rise of emerging powers and the relative decline of the West, especially Europe), which makes finding solutions much more difficult Cooperatives to increasingly complex and more transnational challenges.

Government Cannot Solve Our Problems

2016 ◽  
Author(s):  
Greta de Jong
Keyword(s):  
Global Financial Crisis ◽  
Government Intervention ◽  
Safety Net ◽  
The United States ◽  
Industrial Workers ◽  
Mass Layoffs ◽  
Creative Solutions ◽  
The Social ◽  
The 1960S ◽  
The Global Financial Crisis

This chapter examines connections between reponses to labor displacement in the 1960s rural South and the mass layoffs that afflicted industrial workers later in the twentieth century. Antigovernment sentiment and extreme individualism of the type promoted by those who opposed government intervention to address the southern agricultural crisis made their way into mainstream thinking after the 1960s. Despite rising unemployment rates resulting from deindustrialization and globalization, economic policy in the 1980s and 1990s emphasized spending cuts, deregulation of businesses, and evisceration of the social safety net. These decisions generated increasing economic inequality throughout the United States. When the global financial crisis of 2008 threw millions of people out of work, opposition to government intervention in the economy prevented Congress from adopting the kinds of creative solutions to poverty and unemployment that had been advocated by social justice activists in the 1960s.

The Real Crisis: Not Work Incentives but Runaway Credit

2019 ◽  
pp. 220-229
Author(s):  
Avner Offer ◽  
Gabriel Söderberg
Keyword(s):  
Financial Crisis ◽  
Welfare State ◽  
Financial Liberalization ◽  
Global Financial Crisis ◽  
Work Incentives ◽  
Social Democratic ◽  
The Real ◽  
The Social ◽  
The Global Financial Crisis ◽  
Real Action

This chapter shows that, while economists were fretting over incentives, the real action was taking place unremarked under their noses. When the major crash that Lindbeck predicted finally occurred, it had nothing to do with work incentives or the welfare state. Like the global financial crisis of 2007–2008, of which it might be considered a precursor, the Swedish (and indeed, the wider Nordic) crash originated in finance. Sweden (with the rest of Scandinavia) resisted the lure of financial liberalization until the mid-1980s, and when it succumbed, punishment came quickly. A severe financial crisis in the early 1990s was almost entirely the result of this liberalization, which also became the opportunity for a modest application of the ‘incentives’ agenda, leaving, however, much of the Social Democratic welfare state intact.

Sign in / Sign up

Export Citation Format

Share Document