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. This year, the A.S.A.’s Distinguished Scholarly Publication Award goes to Greta Krippner for Capitalizing on Crisis: The Political Origins of the Rise of Finance. Feb 7, Greta R. Krippner Capitalizing on Crisis: The Political Origins of the Rise of Finance. Cambridge, MA, Harvard University Press,

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Top Reviews Most recent Top Reviews. Neo-Marxist or not, I loved it. His nonsense books, mo ….

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

May 11, Chase Raub rated it it was amazing Shelves: Don’t have a Kindle? Personal finance has been deeply affected, so this is quite close to home for Americans at all wealth levels. Discover Prime Book Box for Kids. Beyond the important history Krippner thus tells, however, is the more general lesson that particular solutions pursued for particular purposes in response to particular crises produced consequences that could not possibly be predicted in advance.

Amazon Rapids Fun stories for kids on ccapitalizing go. Email alerts New issue alert.

It tells a remarkably insightful story about a remarkably complex, and exceptionally consequential process, and as such represents the best of contemporary American sociology.

Krippner detailed how to measure it the financialization of the economy. The crisis under observation are those of social, fiscal, and legitimation. Buy the selected items together This item: The high point of the book is her magnificent analysis of the erosion of Regulation Q, in which regulators cracked open the door to financial deregulation, unleashing the massive deregulation that came later.

The declining profit possible in productive industry leads to speculation in what Marx called ‘fictitious capital’. Citing articles via Web of Science 3.

Capitalizing on Crisis: The Political Origins of the Rise of Finance

Don’t already have an Oxford Academic account? Next comes the story of how Paul Volcker himself, the man who killed inflation, ushered in not one but two important trends in the history of financialization of the US economy: Although this is not Krippner’s intention, her analysis is a neat fit for the Marxist view of the long term tendency of the rate of profit to decline see writers such as Robert Brenner and Michael Roberts. Krippner begins and ends her book with Daniel Bell.


The ghost of Daniel Bell hovers over the book, especially in its normative call at the end for the country to actually have an honest political debate with itself about how distributional issues should be addressed, which in turn needs to be grounded in “a broader public debate regarding our social priorities.

Be the first to ask a question about Capitalizing on Crisis. Rather, her argument is that state action was directly responsible for the growth of financialization, actions that were taken in order to confront structural crises om began to emerge in the late s and reached full bloom by the mids.

The cultural foundations of economic categories: Thanks for telling us about the problem.

Review With Capitalizing on Crisiswe finally have a persuasive account of the roots of the financial disaster. Showing of 11 reviews. At one extreme, the excessive public safety net provided by the American administration to Fannie Mae and Freddie Mac is considered the underlying origin AmazonGlobal Ship Orders Internationally. While she agrees with them that financialization is not merely a cyclical end-of-boom phenomenon, but rather reflects a more durable shift in the structure of the economy, she emphasizes that these analyses too often assume “a seamless alliance between government officials and business elites.

Jul 22, A. The growing emphasis on finance is not merely a result of speculative mania in the face of what Kindleberger referred to as a “displacing event” e. Shopbop Designer Fashion Brands. And now unemployment is at 5.

Her data only goes up to and it is clear that events have changed significantly since then.

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

She defines three separate phases. To purchase short term access, please sign in to your Oxford Academic account ceisis. Subscribe to receive information about forthcoming books, seasonal catalogs, and more, in newsletters tailored to your interests.


Demand for fiscal services kept growing, for which government used the international community to finance the deficits.

A capitaizing of quotations. Greta Krippner Capitalizing on Crisis: Phil rated it really liked it Jul 12, Is it really possible to move all the key decisions about distributional matters out of the control of elected officials and hand it off to technocrats?

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Capitalizing on Crisis

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 s and s. With this profound understanding of complex literatures, Krippber then delves into the details of the history, identifying the combination of three distinct processes: She explains brilliantly how and why government officials encouraged financialization as a way to solve the most vexing problems of our political economy.

Needless to say, this never really happened, and indeed the closest any senior leader came to proposing such a conversation, namely Jimmy Carter’s “crisis of criss speech inwould be demagogued by political opponents as a form of domestic surrender. Krippner’s basic thesis is that successive policy decisions over the course of this period, each in response to immediate challenges, have ‘financialised’ the US economy.

This growing financialisation becoming increasing unstable and leading inexorably to crisis. If you originally registered with a username please use that to sign in. English Choose a language for shopping.