The Global Securitized Subprime Market Crisis
MetadataShow full item record
The final, definitive version of this paper has been published in Review of Radical Political Economics, 41 (3), May/2009 by SAGE Publications Ltd, All rights reserved. ©
This paper examines the global securitised subprime crisis through the lens of core general principles of political economy. The principle of historical specificity is used to situate the crisis in cycles and historical time. The principle of circular and cumulative causation scrutinises the role of multiple factors and how they cumulatively impact on the system. The principle of contradiction explores the relationship between finance and industry through deregulation and changing industrial leadership at the global level. The principles of financial innovation and heterogeneous agents link to the intricacies of the different roles of economic agents in the circuit of mortgages and securitisation. And finally the principle of risk and uncertainty examines the contradictory role of complex institutions and calculative models of risk in the generation of high systemic uncertainty during booms in the cycle.
Showing items related by title, author, creator and subject.
Swarts, N.; Dixon, Kingsley (2009)BackgroundConservation through reserves alone is now considered unlikely to achieve protection of plant species necessary to mitigate direct losses of habitat and the pervasive impact of global climate change. Assisted ...
Hosie, Peter; Smith, C. (2004)Rising incidences of global terrorism and major criminal activities have underscored the need for high quality professional education in security risk and security technology as components of crisis management. This demand ...
Global financial crisis, ownership structure and firm financial performance: An examination of listed firms in AustraliaSaleh, A.; Halili, E.; Zeitun, R.; Salim, Ruhul (2017)Purpose: This paper aims to investigate the financial performance of listed firms on the Australian Securities Exchange (ASX) over two sample periods (1998-2007 and 2008-2010) before and during the global financial crisis ...