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Liquidity Lost

The Governance of the Global Financial Crisis

Langley, Paul (Reader in Economic Geography, Reader in Economic Geography, Durham University)

Liquidity Lost

Liquidity Lost

The Governance of the Global Financial Crisis

Liquidity Lost

 

Contributing to interdisciplinary debates in cultural economy and the social studies of finance, and grounded in extensive empirical research, this book offers an innovative analysis of how the contemporary global financial crisis was governed.


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Beschrijving Liquidity Lost

Contributing to interdisciplinary debates in cultural economy and the social studies of finance, and grounded in extensive empirical research, Liquidity Lost offers an innovative analysis of how the contemporary global financial crisis was governed. Through an exploration of the interventions made by central banks, treasuries, and regulatory authorities in the Anglo-American heartland of the crisis between 2007 and 2011, experimental and strategic apparatuses of crisis governance are shown to have emerged. These discrete apparatuses established six technical problems to be acted upon - liquidity, toxicity, solvency, risk, regulation, and debt - but also shared certain proclivities and preferences. Crisis governance assembled discourses and devices of economy in relation with sovereign monetary, fiscal, and regulatory techniques, and elicited an affective atmosphere of confidence. It also sought to secure the financialized way of life which turns on the opportunities ostensibly afforded by uncertain financial circulations, and gave rise to post-crisis technical fixes designed to advance the resilience of banking and the macro-prudential regulation of financial stability. Thus, the consensus that prevails across economics, political economy, and beyond - wherein sovereign state institutions are cast as coming to the rescue of the markets, banking, or neo-liberal capitalism - conceals a great deal more than it reveals about the governance of the global financial crisis.


ISBN
9780199683789
Pagina's
236
Verschenen
NUR
780
Druk
1
Uitvoering
Hardback
Taal
Engels
Uitgever
OUP Oxford

Economie en bedrijf