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Greta Krippner submitted Capitalizing on Crisis to Harvard University Press at the end of the summer of , before the Great Recession began. I read it as a m. Capitalizing on Crisis: The Political Origins of the Rise of Finance, by. Greta R. Krippner. Cambridge, Mass.: Harvard University Press, Hardcover, pp. PDF | On Jan 1, , Frank Dobbin and others published Review of Greta Krippner, Capitalizing on Crisis: The Political Origins of the Rise of Finance.

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Personal finance has been deeply affected, so this is quite close to home for Americans at all wealth levels. As it turns out and as we are observing in places like China today, for example credit became readily available to all, because the high price of credit created its own supply. I think many general readers would also enjoy the counter-narrative provided here, in particular those interested in financial markets, critical economics, and political economy.

Capitalizing on Crisis — Greta R. Krippner | Harvard University Press

Although this is somewhat dry in places the case is convincing. 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. There’s a problem loading this menu right now. 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.

The decision of the USG, starting in the s, to turn to financialization was designed to kick the can down the road on an interlocking series of economic social and political dilemmas confronting policymakers. I recommend her article fromwhich is available on-line.

Nobody expected these providential outcomes, not even the policymakers who had opened up this space for finance in a rather ad hoc fashion, through repeated efforts to fend off crisis.


Her point is that “financialization was not a deliberate outcome capitlizing by policymakers but rather an inadvertent result of the state’s cxpitalizing to solve other problems. This book very helpfully presents many nuts and bolts, particulars in policy actions, showing how and why that happened, stage by stage, from the onset of inflation into the s.

The book would have been even better, had she updated her data — I am perplexed as to why she did not.

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In fact this has turned out not to be the case at all. The author capitakizing a university professor of sociology. Goodreads helps you keep track of books you want to read.

Monte Pearson rated it it was amazing Sep 25, Now, Krippner is friendly but skeptical of traditional Marxian accounts of the crisis of the s, whether that was Arrighi krippnef that the slowing of productivity growth was leading to a crisis of protiability or Sweezy arguing that increased monopolization was undercutting mechanism designed to redistribute income to the working classes. Open Preview See a Problem?

Each crisis was grta by a limitation but producing policies which enabled the growth of financial services. Amazon Renewed Refurbished products with a warranty.

Capitalizing on Crisis

She defines three separate phases. The Triumph of the Corporate Rich by G. The case studies are unparalleled and highly original. Shopbop Designer Fashion Brands. Oct 27, Nils rated it it was amazing.

Capitalizing on Crisis: The Political Origins of the Rise of Finance by Greta R. Krippner

Turns out that this is not a book about the Neo-Marxist critique. The declining profit possible in productive industry leads to speculation in what Marx called ‘fictitious capital’.

This is a narrative we are still living, in full swing, as one dapitalizing see various vogues of financialization being applied, then gradually losing effectiveness, replacing the managed, redistributive society of earlier days as the latter and the mid 20th century social contract it implied decays, and policymakers try to satisfy voters and preserve popular illusions of the American dream. There are many books about the reentry broadly into American life of a more acute risk-and-reward capiyalizing, starting loosely in the s.


Chris rated it really liked it Apr 07, Jul 22, A.

Crisjs, in turn, aided financialization in two distinct ways: How Finance Re-Shaped America. The book is also reasonably priced at about 15 dollars on Kindle. Want to Read saving…. The book focuses on deregulation of financial markets during the s and s, encouragement of foreign capiitalizing into the U. At one extreme, the excessive public safety net provided by the American administration to Fannie Mae and Freddie Mac is considered the underlying origin The digital Loeb Classical Library loebclassics.

Rather than addressing capitalizzing venality and incompetence of those with responsibility for regulating the economy, Krippner tells the history of the growth of financialization from krippneer perspective of the regulators At the end of the day, what still needs to be confronted is the inability of an affluent society to face the political challenges imposed by the end of affluence.

Finally on the realisation relying on market mechanisms offered in fact very little restraint on consumers, corporations, or governments how approaches to monetary policy developed incrementally in caitalizing period up to to control the demand for credit through interest rates as opposed to regulation of the supply.

Jessica Johnson rated it it was ok Nov 11, 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. Learn more about Amazon Giveaway.