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Current Financial Crisis (current + financial_crisis)

Distribution by Scientific Domains
Humanities and Social Sciences100%

Selected Abstracts

Equity-Based, Asset-Based and Asset-Backed Transactional Structures in Shari'a -Compliant Financing: Reflections on the Current Financial Crisis,

ECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 3 2009
Razi Pahlavi Abdul Aziz
F33; G21; P45; P49 This paper presents interest-free equity-based, asset-based and asset-backed transactional structures endorsed by Shari'a -compliant finance. These structures could explain the potential and relative insulation, yet not immunity, of Islamic financial institutions from the financial crisis. Although Shari'a -compliant financing cannot solve the current financial crisis, the recovering market could consider incorporating some of the insulating principles underlying Shari'a -compliant financing and securitization products, as exemplified in the sample of Shari'a -compliant products in this paper, so as to offer better consumer protection. [source]

Capital Culture Revisited: Sex, Testosterone and the City

INTERNATIONAL JOURNAL OF URBAN AND REGIONAL RESEARCH, Issue 3 2010
LINDA McDOWELL
Abstract In this essay I want to revisit and add to the arguments in my book Capital Culture: Gender at Work in the City, published a decade before the first signs of the current financial crisis. There I suggested that the City of London, the financial heart of the UK, is an arena riven by sexualized and gendered scripts: in other words capitalism is gendered. A decade or so later, these arguments seem just as relevant as the financial ,masters of the universe' are brought low, in part by their own behaviour. Here, I explore more explicitly the implications of testosterone-fuelled risk taking by both the traders and the chief executive officers of investment banks in the current world of casino capitalism. Résumé Ce travail reprend et complète le propos de Capital Culture: Gender at Work in the City, le livre que j'ai publié une décennie avant l'apparition des premiers signes de la crise financière actuelle. Cet ouvrage préconisait que la City de Londres, c,ur financier du Royaume-Uni, était une arène scindée selon des scénarios différenciés par sexe et genre, autrement dit le capitalisme était sexué. Près de dix ans plus tard, ces propos semblent tout aussi pertinents d'autant que les ,maîtres de l'univers' de la finance sont amoindris, en partie à cause de leur propre comportement. Sont examinées ici de plus près les implications des prises de risques nourries à la testostérone auxquelles se livrent à la fois les traders et les directeurs généraux des banques d'investissement dans un monde où règne un capitalisme de casino. [source]

Disagreeing to Agree: Financial Crisis Management within the ,Logic of No Alternative'

POLITICS, Issue 2 2009
Huw Macartney
The article argues that amid a cacophony of analyses of the causes of the current financial crisis, those daring to consider its implications and outcomes are decidedly cautious. Fundamentally, crisis managers appear intent on treating this as a minor glitch in an otherwise functioning market. This is a controversial claim. Nonetheless it is the legacy of the perception that neoliberalism is ,the only alternative'; it emphasises the need, however, for truly alternative voices in the ad hoc settlements and negotiations. The article argues that, through the lenses of historical materialism, this crisis is the inevitable result of the prolonged period of credit expansion and financial market reform in recent decades. With this in mind it suggests that the economists and state managers who established these conditions are themselves both unlikely to and incapable of reversing them. [source]

,Casino capitalism' and the financial crisis

ANTHROPOLOGY TODAY, Issue 4 2009
Rebecca Cassidy
I argue that by describing the current financial crisis as the result of ,casino capitalism' commentators are reinforcing familiar and baseless assumptions about exchange and deflecting serious criticism from the true causes of the problem and how we might respond to them. I refer to recent ethnography by anthropologists working in international finance and to three features of casinos: customers, markets and regulation, in order to support the argument that neither individual casinos, nor the industry in general are good exemplars of ,casino capitalism'. [source]