{"id":163,"date":"2013-02-08T18:01:15","date_gmt":"2013-02-08T18:01:15","guid":{"rendered":"http:\/\/na-srv-0zs\/newdeals\/?p=163"},"modified":"2017-01-17T10:44:19","modified_gmt":"2017-01-17T10:44:19","slug":"financialisation","status":"publish","type":"post","link":"https:\/\/newdeals.maynoothuniversity.ie\/?p=163","title":{"rendered":"Financialisation"},"content":{"rendered":"

The most recent issue of the Economic and Social Review<\/em> has a symposium on the politics of financialisation, including papers on the US, a comparative analysis of financialisation and inequality in the OECD and Se\u00e1n \u00d3 Riain’s paper on\u201dThe Crisis of Financialisation in Ireland\u201d.<\/p>\n

The table of contents, with links to papers, is here<\/a><\/p>\n

The abstract of the Ireland paper is below:<\/p>\n

This paper explores the intersection of national and transnational processes in shaping Ireland\u2019s financial crisis. It uses insights from economic sociology to reconcile the analytical tension between an understanding of Ireland\u2019s crisis in terms of the unfolding of an international process and explanations that focus on specific national features. A series of significant policy decisions in the late 1990s favoured financial markets in allocating capital and opened up significant institutional space for speculative lending. Underneath the apparently consistent expansion of the property lending bubble since the mid-1990s, there was a significant shift in investment logics from the early 2000s as both residential and commercial real estate spending became detached from underlying demand. This shift in logic was based on two significant \u201ctranslations\u201d of investment rationalities into justifications of lending and investment that underpinned the bubble. Irish banks\u2019 own conceptions of risk and rational investments shifted subtly over time so that property lending was translated into a rational investment, encouraged by market dynamics such as increased bank profits, rising share prices and concentration of decision making power in the banking system. At the same time, and in the context of the establishment of the euro, investing in the assets of Irish banks was translated into a rational investment for international banks, in large part through the metrics of the credit ratings agencies. The paper concludes by revisiting the question of how we should understand the specifics of particular financial crises in conjunction with the general dynamics of financialisation \u2013 pointing to the importance of \u201ctranslation\u201d processes in creating social rationalities and the significance of \u201cmarket liberalism\u201d as a social formation in enabling these translations and promoting financialisation.<\/p>\n

Se\u00e1n \u00d3’ Riain<\/p>","protected":false},"excerpt":{"rendered":"

The most recent issue of the Economic and Social Review has a symposium on the politics of financialisation, including papers on the US, a comparative analysis of financialisation and inequality in the OECD and Se\u00e1n \u00d3 Riain’s paper on\u201dThe Crisis of Financialisation in Ireland\u201d. The table of contents, with links to papers, is here The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[4,6,7,8],"class_list":["post-163","post","type-post","status-publish","format-standard","hentry","category-news","tag-economy","tag-finance","tag-paper","tag-political"],"_links":{"self":[{"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=\/wp\/v2\/posts\/163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=163"}],"version-history":[{"count":1,"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=\/wp\/v2\/posts\/163\/revisions"}],"predecessor-version":[{"id":642,"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=\/wp\/v2\/posts\/163\/revisions\/642"}],"wp:attachment":[{"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newdeals.maynoothuniversity.ie\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}