Networked Financialization

Author(s):  
Dan Schiller

This chapter examines how networked financialization exacerbated capitalism's crisis tendencies. Financialization, a formative aspect of the rise of digital capitalism in response to the crisis of the 1970s, evolved out of multiple impulses. One spur came as millions of workers who experienced wage repression were brought to depend on debt for immediate consumption as well as for housing and automobiles, education, and medical care. Another came from the fact that finance grew ever larger in the strategies of transnational manufacturers, retail chains, agribusinesses, and service suppliers. The chapter also discusses the impact of information and communications technology (ICT) on financialization as well as the role of networks in the emergence of a high-tech financial system. It concludes by looking at three major trends, including the possibility that the financial crisis was unlikely to end without a profoundly conflicted restructuring of the global political economy.

2003 ◽  
Vol 36 (3) ◽  
pp. 165-189 ◽  
Author(s):  
Richard Johnstone

The present review refers to studies published in 2002 in leading research journals. It focuses in particular on learning, teaching and policy in respect of second, modern foreign or additional languages. The comments offered about particular studies are not intended to summarise them (for that, it is best to refer to the actual abstracts which the present journal publishes). What is on offer is a personal selection made because some aspect of a particular article seemed to be of particular interest or to reflect an important trend, and I have attempted to link such elements together to form a narrative. Compared with previous years, two important themes seemed to gather particular momentum in 2002: first, the role of ‘frequency’ in acquisition; and second, the impact of complex and contradictory global factors on everyday pedagogical practice, thinking and attitudes. As in previous years reference is made to the abstracts. Thus, Tarone (2002: 03-158) refers to an article by Tarone published in 2002 and reflected in the 2003 series of this journal as abstract 158. In previous years I have discussed ICT (information and communications technology) in a separate section of its own but this has now been integrated into other sections, reflecting a process of ‘normalisation’.


2003 ◽  
Vol 184 ◽  
pp. 58-59 ◽  
Author(s):  
Mary O'Mahony

The impact of recent advances in information technology on output and productivity growth has been one of the key research questions in the past few years. A consensus has emerged that the use of information and communications technology (ICT) capital has had a significant impact on aggregate economy-wide labour productivity growth through the capital deepening channel in the United States in the 1990s (see the discussion and references in the papers below). Evidence is also emerging of a delayed but nonetheless significant impact in European and other OECD economies. These findings have stimulated additional research using microeconomic data focusing on both the industry or company level.


2020 ◽  
Vol 211 ◽  
pp. 04006
Author(s):  
Zaytsev Andrey ◽  
Konikov Evgeniy ◽  
Busheneva Yulia ◽  
Doleva Zarema

The paper characterizes the specifics of the impact of digitalization processes on such an indicator as GDP per capita: case study of the European Union countries. The literature dedicated to the matters of the relationship between digitalization and economic growth is reviewed. Based on the statistical data, a regression model is built to determine the dependencies between the GDP of European Union member countries and the economic digitalization indicators. An equation formed in the research can be used to demonstrate the dependence between GDP per capita and the accessibility of information and communications technology and its usage by organizations, households, and private persons in the territory of the European Union. According to the result obtained, the following possible options were formulated for the development of the European Union economies concerning digitalization: stimulating the introduction of information and communications technology in enterprises (including tax incentives for the firms involved in entrepreneurial digital development, as well as growing investments in the existing assets), households (increasing trust of the population in digital products; increasing human capital, which is highly demanded by the digital economy; prospects of the electronic postal trade system); focus on the export of high-tech products.


2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.


Author(s):  
George Pattison

A Rhetorics of the Word is the second volume of a three-part philosophy of Christian life. It approaches Christian life as expressive of a divine calling or vocation. The word Church (ekklesia) and the role of naming in baptism indicate the fundamental place of calling in Christian life. However, ideas of vocation are difficult to access in a world shaped by the experience of disenchantment. The difficulties of articulating vocation are explored with reference to Weber, Heidegger, and Kierkegaard. These are further connected to a general crisis of language, manifesting in the degradation of political discourse (Arendt) and the impact of new communications technology on human discourse. This impact can be seen as reinforcing an occlusion of language in favour of rationality already evidenced in the philosophical tradition and technocratic management. New possibilities for thinking vocation are pursued through the biblical prophets (with emphasis on Buber’s and Rosenzweig’s reinterpretation of the call of Moses), Saint John, and Russian philosophies of language (Florensky to Bakhtin). Vocation emerges as bound up with the possibility of being name-bearers, enabling a mutuality of call and response. This is then evidenced further in ethics and poetics, where Levinas and Hermann Broch (The Death of Virgil) become major points of reference. In conclusion, the themes of calling and the name are seen to shape the possibility of love—the subject of the final part of the philosophy of Christian life: A Metaphysics of Love.


2021 ◽  
Vol 13 (11) ◽  
pp. 6294
Author(s):  
Peiqing Zhu ◽  
Jianbo Song

Internal control plays a role in risk prevention for firms when dealing with serious emergencies, which ensures the sustainable development of firms during a crisis. Based on the rapid outbreak of COVID-19 in China, this paper empirically tests whether internal control alleviates the negative impact of the pandemic on firm performance. Using a sample of Chinese listed firms from the first quarter of 2019 to the third quarter of 2020 and employing the difference-in-difference (DID) method, we find that the firms with a higher quality of internal control achieve better financial performance during the pandemic period; the more serious the pandemic is, the more obvious effect internal control plays. Furthermore, we consider the industry heterogeneity and firm heterogeneity of the risk resistance effect of internal control. In the manufacturing industry, which is a “disaster zone” of the pandemic, and the non-high-tech industry with a low degree of digitization, internal control can play a more important role in firms’ performance. Moreover, for state-owned enterprises, and firms with strong financing constraints, the role of internal control is more prominent. The above results provide empirical evidence for the risk prevention function of internal control and shed new light on the measures for firms to resist emergencies in the future.


2021 ◽  
Vol 6 (2) ◽  
pp. 100-104
Author(s):  
Liudmyla Tsymbal

The article identifies the key conceptual foundations for the formation of intellectual leadership of economic entities, including countries as specific actors in the global economy. Thorough preconditions for increasing the level of economic development and the impact of education have been identified. It is determined that historical concepts and modern realities of economic activity only actualize the role of education and enlightenment in the economic development of the national economy and ensuring its competitiveness. The strategies of increasing the competitiveness of individual countries of the world are analyzed, their key priorities in the conditions of formation of the knowledge economy are determined. The evolution of views on the role of human and intellectual capital in increasing the welfare of countries, the impact on GDP and other macroeconomic indicators is described. The ratings of countries are analyzed, in particular by the level of investment in intellectual capital and the structure of their GDP, which confirms the dominance of science-intensive economic activities. In addition, it was determined that the leading countries are characterized by increasing the role of knowledge-intensive activities, increasing the share of intangible assets, redistribution of capital of leading international companies and increasing research spending, increasing investment in human and intellectual capital, increasing exports of high-tech products. Analytical assessment confirms the advanced development of science-intensive industries in countries with developed economies, which creates the need for training and retraining of specialists needed for such industries. In modern conditions, the educational process ceases to be predominantly the prerogative of young people, and becomes a lifelong process, which increases spending on education in developed countries, but without denying the significant asymmetries on this indicator. Research confirms the direct relationship between the quality of human and physical capital and economic development, which is typical of highly developed countries, one of the main reasons for the development lag of the poorest countries. In addition, the article substantiates the key factors of intellectual leadership and their impact on the development of economic development strategies.


2019 ◽  
Vol 11 (2) ◽  
pp. 79-96
Author(s):  
Urška Fric

Abstract The article describes the role of legislative and legal framework which brought about a new approach to waste management through the concept of circular economy, and its drivers. We explicitly focus on the impact of ambitious EU environmental policy and its financial support from the European Commission (EC) which helped social actors recognize not only the ecological, but also the economic and social benefits of the circular economy. Over 50 actions under the “Circular Economy Action Plan” launched in 2015 have been delivered or are being implemented in this period in European Union (EU). Through overview of the EU’s ambitious policy, best practice of the circular economy in the world and status quo in circular economy at EU level we also show the circular economy is nowadays a crucial megatrend and there is still needed to increase up action at EU level, provide the competitive advantage it brings to EU economy and close the loop. Beside impact of ambitious EU environmental policy article focuses on the Cultural Political Economy (CPE) approach as a political economy approach with the purpose for explaining the role of legislative and legal framework as a mechanism for selection and retention of the paradigm of circular economy.


2021 ◽  
Vol 235 ◽  
pp. 02049
Author(s):  
MingXing Shao ◽  
XiaoHe Yang

One of the most current concerns in the field of information system is whether cloud computing technology can deliver the desired improvement of capability and value to enterprises. This paper studied the enterprise technology development capability of the enterprises in Beijing Zhongguancun Technology Park, the first national high-tech industrial development zone in China, from the perspective of the breadth and depth of the alignment of cloud computing and enterprise. It proposed a theoretical model to study how the breadth and depth of alignment affects the enterprise technology development capability in a turbulent environment and considers the intermediary role of the enterprise technology absorption capability and the moderation role of environmental turbulence in it. The model was tested empirically by questionnaires and structural equation model (SEM). Empirical results showed that both the deep and wide alignment of cloud computing can enhance the enterprise technology development capability by improving the enterprise technology absorption capability.


Sign in / Sign up

Export Citation Format

Share Document