Capitalizing on Crisis: The Political Origins of the Rise of Finance
Capitalizing on Crisis: The Political Origins of the Rise of Finance
复制标题
利用危机：金融崛起的政治根源
DOI：
10.5860/choice.49-0403
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发表时间：
2011
期刊：
影响因子：
--
通讯作者：
Greta R. Krippner
中科院分区：
文献类型：
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作者：
Greta R. Krippner
在最近的金融危机的背景下，美国经济对金融活动的依赖程度已经非常明显。在《利用危机》一书中，格里塔·克里普纳追溯了使金融业崛起成为可能的长期历史演变，认为这一发展依赖于美国经济更广泛的转型，而不是目前对金融投机的关注。克里普纳认为，国家政策创造了有利于金融化的条件，使国家避免了政策制定者在20世纪60年代末和70年代开始陷入战后繁荣停滞时面临的一系列经济、社会和政治困境。在这方面，经济的金融化不是决策者刻意追求的结果，而是国家试图解决其他问题的无意结果。本书重点讨论了20世纪70年代和80年代金融市场的放松管制，20世纪80年代初在大规模财政失衡的背景下鼓励外国资本进入美国经济，以及1979年转向高利率后货币政策的变化。经过详尽的研究，这本书带来了广泛的新的经验证据，以支持有关金融市场最近发展的辩论，以及过去几十年来美国社会所特有的更广泛的市场转向。
In the context of the recent financial crisis, the extent to which the U.S. economy has become dependent on financial activities has been made abundantly clear. In "Capitalizing on Crisis", 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.S. economy than is suggested by the current preoccupation with financial speculation. 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 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state's attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979. Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.