Vincent Antonin Lépinay
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691151502
- eISBN:
- 9781400840465
- Item type:
- book
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691151502.001.0001
- Subject:
- Economics and Finance, Financial Economics
The financial industry's invention of complex products such as credit default swaps and other derivatives has been widely blamed for triggering the global financial crisis of 2008. This book takes ...
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The financial industry's invention of complex products such as credit default swaps and other derivatives has been widely blamed for triggering the global financial crisis of 2008. This book takes readers behind the scenes of the equity derivatives business at the bank before the crisis, providing a detailed firsthand account of the creation, marketing, selling, accounting, and management of these financial instruments-and of how they ultimately created havoc inside and outside the bank. The book explains how financial operators and financial products coexist and how this coexistence is tense because the bank deals with innovative products that yield unexpected reactions on unevenly charted markets. The book is also a case study of economic derivation, but rather than look at derivatives as a class of economic goods, it studies derivation as a process.Less
The financial industry's invention of complex products such as credit default swaps and other derivatives has been widely blamed for triggering the global financial crisis of 2008. This book takes readers behind the scenes of the equity derivatives business at the bank before the crisis, providing a detailed firsthand account of the creation, marketing, selling, accounting, and management of these financial instruments-and of how they ultimately created havoc inside and outside the bank. The book explains how financial operators and financial products coexist and how this coexistence is tense because the bank deals with innovative products that yield unexpected reactions on unevenly charted markets. The book is also a case study of economic derivation, but rather than look at derivatives as a class of economic goods, it studies derivation as a process.
Josh Bivens
- Published in print:
- 2011
- Published Online:
- August 2016
- ISBN:
- 9780801450150
- eISBN:
- 9780801460654
- Item type:
- book
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9780801450150.001.0001
- Subject:
- Economics and Finance, Public and Welfare
This book relays a compelling narrative of the U.S. economy's struggle to emerge from the Great Recession of 2008. It explains the causes and impact on working Americans of the most catastrophic ...
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This book relays a compelling narrative of the U.S. economy's struggle to emerge from the Great Recession of 2008. It explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. Economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade's sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, the book also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low-and middle-income workers. It tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis.Less
This book relays a compelling narrative of the U.S. economy's struggle to emerge from the Great Recession of 2008. It explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. Economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade's sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, the book also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low-and middle-income workers. It tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis.
Jeffrey C. Alexander
- Published in print:
- 2010
- Published Online:
- May 2012
- ISBN:
- 9780199744466
- eISBN:
- 9780199944163
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199744466.001.0001
- Subject:
- Sociology, Culture
Contemporary observers of politics in America often reduce democracy to demography. Whatever portion of the vote not explained by the class, gender, race, and religious differences of voters is ...
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Contemporary observers of politics in America often reduce democracy to demography. Whatever portion of the vote not explained by the class, gender, race, and religious differences of voters is attributed to the candidates' positions on the issues of the day. But are these the only—or even the main—factors that determine the vote? This book develops a new way of looking at democratic struggles for power, explaining what happened, and why, during the 2008 presidential campaign in the United States. Drawing on vivid examples taken from a range of media coverage, participant observation at a Camp Obama, and interviews with leading political journalists, the book argues that images, emotion, and performance are the central features of the battle for power. While these features have been largely overlooked by pundits, they are, in fact, the primary foci of politicians and their staff. Obama and McCain painstakingly constructed heroic self-images for their campaigns and the successful projections of those images suffused not only each candidate's actual rallies, and not only their media messages, but also the ground game. Money and organization facilitate the ground game, but they do not determine it. Emotion, images, and performance do. Though an untested senator and the underdog in his own party, Obama succeeded in casting himself as the hero—and McCain the anti-hero—and the only candidate fit to lead in challenging times. Illuminating the drama of Obama's celebrity, the effect of Sarah Palin on the race, and the impact of the emerging financial crisis, the book marries the immediacy and excitement of the final months of this historic presidential campaign with a new understanding of how politics work.Less
Contemporary observers of politics in America often reduce democracy to demography. Whatever portion of the vote not explained by the class, gender, race, and religious differences of voters is attributed to the candidates' positions on the issues of the day. But are these the only—or even the main—factors that determine the vote? This book develops a new way of looking at democratic struggles for power, explaining what happened, and why, during the 2008 presidential campaign in the United States. Drawing on vivid examples taken from a range of media coverage, participant observation at a Camp Obama, and interviews with leading political journalists, the book argues that images, emotion, and performance are the central features of the battle for power. While these features have been largely overlooked by pundits, they are, in fact, the primary foci of politicians and their staff. Obama and McCain painstakingly constructed heroic self-images for their campaigns and the successful projections of those images suffused not only each candidate's actual rallies, and not only their media messages, but also the ground game. Money and organization facilitate the ground game, but they do not determine it. Emotion, images, and performance do. Though an untested senator and the underdog in his own party, Obama succeeded in casting himself as the hero—and McCain the anti-hero—and the only candidate fit to lead in challenging times. Illuminating the drama of Obama's celebrity, the effect of Sarah Palin on the race, and the impact of the emerging financial crisis, the book marries the immediacy and excitement of the final months of this historic presidential campaign with a new understanding of how politics work.
Mallory E. SoRelle
- Published in print:
- 2020
- Published Online:
- May 2021
- ISBN:
- 9780226711652
- eISBN:
- 9780226711829
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226711829.001.0001
- Subject:
- Political Science, American Politics
Borrowing has become the American way of life. We increasingly rely on consumer credit to purchase daily necessities and to weather unexpected emergencies. But borrowing to live is a double-edged ...
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Borrowing has become the American way of life. We increasingly rely on consumer credit to purchase daily necessities and to weather unexpected emergencies. But borrowing to live is a double-edged sword: While access to credit can help people afford the American dream, borrowing also exposes them to high interest rates, fees, and mounting debt that can quickly turn into a financial nightmare. Despite this threat, policymakers haven’t put an end to predatory lending, borrowers haven’t taken political action to demand better financial protection, and consumer groups haven’t been able to change either trend—even after the 2008 global financial crisis. Democracy Declined argues that the failure to curb predatory lending through political participation is the product of a U.S. political economy of credit—a self-reinforcing cycle of policy development and subsequent policy feedback effects. Drawing on historical records, interviews, and original survey and experimental data, the book charts how federal policymakers embraced broad access to consumer credit to grow the national economy, motivating them to adopt consumer financial protections that safeguard that access. The resulting regulatory regime relies on information disclosures that teach borrowers to blame themselves and their banks for financial problems, minimizing people’s incentives to turn to politics to demand change. Compelled by the need to preserve credit access and without the countervailing force of voter mobilization, Democracy Declined explores how this feedback loop limits the prospects for meaningful consumer financial reform, threatening the economic security of American borrowers and the U.S. economy while exacerbating existing economic inequality.Less
Borrowing has become the American way of life. We increasingly rely on consumer credit to purchase daily necessities and to weather unexpected emergencies. But borrowing to live is a double-edged sword: While access to credit can help people afford the American dream, borrowing also exposes them to high interest rates, fees, and mounting debt that can quickly turn into a financial nightmare. Despite this threat, policymakers haven’t put an end to predatory lending, borrowers haven’t taken political action to demand better financial protection, and consumer groups haven’t been able to change either trend—even after the 2008 global financial crisis. Democracy Declined argues that the failure to curb predatory lending through political participation is the product of a U.S. political economy of credit—a self-reinforcing cycle of policy development and subsequent policy feedback effects. Drawing on historical records, interviews, and original survey and experimental data, the book charts how federal policymakers embraced broad access to consumer credit to grow the national economy, motivating them to adopt consumer financial protections that safeguard that access. The resulting regulatory regime relies on information disclosures that teach borrowers to blame themselves and their banks for financial problems, minimizing people’s incentives to turn to politics to demand change. Compelled by the need to preserve credit access and without the countervailing force of voter mobilization, Democracy Declined explores how this feedback loop limits the prospects for meaningful consumer financial reform, threatening the economic security of American borrowers and the U.S. economy while exacerbating existing economic inequality.
Douglas A. Shackelford, Daniel N. Shaviro, and Joel Slemrod
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199698165
- eISBN:
- 9780191738630
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698165.003.0006
- Subject:
- Economics and Finance, Financial Economics
In the aftermath of the 2008 financial crisis, a variety of taxes on financial institutions have been proposed or enacted. The justifications for these taxes range from punishing those deemed to have ...
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In the aftermath of the 2008 financial crisis, a variety of taxes on financial institutions have been proposed or enacted. The justifications for these taxes range from punishing those deemed to have caused or unduly profited from the crisis, to addressing the budgetary costs of the crisis, to better aligning banks’ and bank executives’ incentives in the light of the broader social costs and benefits of their actions. Although there is a long-standing literature on corrective, or Pigouvian, taxation, most of it has been applied to environmental externalities, and the externalities that arise from the actions of financial institutions are structurally different. This chapter reviews the justifications for special taxes on financial institutions, and addresses what kinds of taxes are most likely to achieve the various stated objectives, which are often in conflict. It then critically assesses the principal taxes that have been proposed or enacted to date: financial transactions taxes, bonus taxes, and taxes on firms in the financial sector based on size, bank liabilities, or excess profits.Less
In the aftermath of the 2008 financial crisis, a variety of taxes on financial institutions have been proposed or enacted. The justifications for these taxes range from punishing those deemed to have caused or unduly profited from the crisis, to addressing the budgetary costs of the crisis, to better aligning banks’ and bank executives’ incentives in the light of the broader social costs and benefits of their actions. Although there is a long-standing literature on corrective, or Pigouvian, taxation, most of it has been applied to environmental externalities, and the externalities that arise from the actions of financial institutions are structurally different. This chapter reviews the justifications for special taxes on financial institutions, and addresses what kinds of taxes are most likely to achieve the various stated objectives, which are often in conflict. It then critically assesses the principal taxes that have been proposed or enacted to date: financial transactions taxes, bonus taxes, and taxes on firms in the financial sector based on size, bank liabilities, or excess profits.
Daniel N. Shaviro
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199698165
- eISBN:
- 9780191738630
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698165.003.0007
- Subject:
- Economics and Finance, Financial Economics
Tax rules encouraging excessive debt, complex financial transactions, poorly designed incentive compensation for corporate managers, and highly leveraged homeownership all may have contributed to the ...
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Tax rules encouraging excessive debt, complex financial transactions, poorly designed incentive compensation for corporate managers, and highly leveraged homeownership all may have contributed to the financial crisis, but do not appear to have been among the primary causes. Even without a strong causal link, however, the pre-existing case for tax reform at all these margins arguably is strengthened by the 2008 financial crisis, which suggests that tax rules not only fell short of classic neutrality benchmarks but generally leaned in precisely the wrong direction.Less
Tax rules encouraging excessive debt, complex financial transactions, poorly designed incentive compensation for corporate managers, and highly leveraged homeownership all may have contributed to the financial crisis, but do not appear to have been among the primary causes. Even without a strong causal link, however, the pre-existing case for tax reform at all these margins arguably is strengthened by the 2008 financial crisis, which suggests that tax rules not only fell short of classic neutrality benchmarks but generally leaned in precisely the wrong direction.
Pierre Sintès
- Published in print:
- 2019
- Published Online:
- September 2020
- ISBN:
- 9781786940896
- eISBN:
- 9781786944962
- Item type:
- book
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9781786940896.001.0001
- Subject:
- Political Science, International Relations and Politics
Since 2008, Greece has been at the centre of European current affairs due to the financial and economic crisis. However, it should not be forgotten that before the current crisis the political ...
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Since 2008, Greece has been at the centre of European current affairs due to the financial and economic crisis. However, it should not be forgotten that before the current crisis the political upheavals of the early 1990s and the collapse of Marxist-inspired regimes had already radically transformed the face of the country. These transformations have been seen as a return of the Balkans’ question, raising issues of border disputes and migration, minorities and national inclusion. They have had far-reaching consequences on the relations between Greek society and its peripheries, and what some have deemed to be its destabilising diversity. In this context, the material presented in this book examines the strengthening of discourses of belonging which draw legitimacy from a glorification of the past and tradition. The fieldwork carried out over the past 15 years on the fringes of Greece has focused on groups who were stigmatised and distanced from standard definitions of Greekness. It provides an original perspective on the changes that the country has undergone in recent decades. The question of the nation-state’s future is raised through close observation on the local scale, leading to a debate about the relationship between areal and reticular territory within the framework of globalisation. This book also aims to provide non-Francophone readers with access to research carried out on these issues in France, shifting the focus of Balkan Anglophone specialists for whom French publications remain a distant province.Less
Since 2008, Greece has been at the centre of European current affairs due to the financial and economic crisis. However, it should not be forgotten that before the current crisis the political upheavals of the early 1990s and the collapse of Marxist-inspired regimes had already radically transformed the face of the country. These transformations have been seen as a return of the Balkans’ question, raising issues of border disputes and migration, minorities and national inclusion. They have had far-reaching consequences on the relations between Greek society and its peripheries, and what some have deemed to be its destabilising diversity. In this context, the material presented in this book examines the strengthening of discourses of belonging which draw legitimacy from a glorification of the past and tradition. The fieldwork carried out over the past 15 years on the fringes of Greece has focused on groups who were stigmatised and distanced from standard definitions of Greekness. It provides an original perspective on the changes that the country has undergone in recent decades. The question of the nation-state’s future is raised through close observation on the local scale, leading to a debate about the relationship between areal and reticular territory within the framework of globalisation. This book also aims to provide non-Francophone readers with access to research carried out on these issues in France, shifting the focus of Balkan Anglophone specialists for whom French publications remain a distant province.
Ida Susser
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780195367317
- eISBN:
- 9780199951192
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195367317.003.0000
- Subject:
- Sociology, Social Stratification, Inequality, and Mobility, Urban and Rural Studies
This chapter opens with a brief discussion of the production of urban space and the historical contributions of Robert Moses and Jane Jacobs to the structuring of New York City. The section that ...
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This chapter opens with a brief discussion of the production of urban space and the historical contributions of Robert Moses and Jane Jacobs to the structuring of New York City. The section that follows outlines the impact of globalization and the increasing inequalities that have framed the lives of New Yorkers over the past three decades. The next section focuses on the changing conditions of life in Greenpoint and Williamsburg, as well as the ongoing community organizing around environmental justice and affordable housing. It follows the long and concerted collaboration among many community groups, churches, local politicians, and others for a fair and sustainable Community Development Plan, which came to be known as 197A. It shows how, after 9/11/2001, in Greenpoint–Williamsburg, the Bloomberg administration introduced massive plans for rezoning, overruling the previously approved Community Development Plan 197A. The final section traces the immediate impact of the 2008 global economic crisis on the half-built new condominiums precipitated by the Bloomberg rezoning.Less
This chapter opens with a brief discussion of the production of urban space and the historical contributions of Robert Moses and Jane Jacobs to the structuring of New York City. The section that follows outlines the impact of globalization and the increasing inequalities that have framed the lives of New Yorkers over the past three decades. The next section focuses on the changing conditions of life in Greenpoint and Williamsburg, as well as the ongoing community organizing around environmental justice and affordable housing. It follows the long and concerted collaboration among many community groups, churches, local politicians, and others for a fair and sustainable Community Development Plan, which came to be known as 197A. It shows how, after 9/11/2001, in Greenpoint–Williamsburg, the Bloomberg administration introduced massive plans for rezoning, overruling the previously approved Community Development Plan 197A. The final section traces the immediate impact of the 2008 global economic crisis on the half-built new condominiums precipitated by the Bloomberg rezoning.
Kathryn C. Lavelle
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199765348
- eISBN:
- 9780199918959
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199765348.003.0007
- Subject:
- Political Science, International Relations and Politics
In this chapter, the IMF, World Bank, and Congress entered the revived stage of the relationship among them. The revival was triggered externally by the international dimensions of the 2008 financial ...
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In this chapter, the IMF, World Bank, and Congress entered the revived stage of the relationship among them. The revival was triggered externally by the international dimensions of the 2008 financial crisis. Internal change in the legislature came from the election of democratic President Barack Obama, ending the earlier period of divided government. The chapter argues that through congressional advocacy efforts, the IMF received an increase in its New Arrangements to Borrow, following an informal agreement to modify some conditionality and transparency practices. The World Bank achieved the authorization and appropriation for the fifteenth replenishment of the International Development Association, with provisions over the use of the labor indicator in the Doing Business report. The role of the IMF in the Eurozone bailouts associated with the Greek and Irish crises is not conclusive in 2011. However, the era of divided government that facilitated a certain degree of support for the Bretton Woods institutions ended with the close of the 111th Congress. The length and character of the revival faces the obstacle of the collapse of the traditional constituencies of support for the IMF and World Bank in the international banking communities in the long term.Less
In this chapter, the IMF, World Bank, and Congress entered the revived stage of the relationship among them. The revival was triggered externally by the international dimensions of the 2008 financial crisis. Internal change in the legislature came from the election of democratic President Barack Obama, ending the earlier period of divided government. The chapter argues that through congressional advocacy efforts, the IMF received an increase in its New Arrangements to Borrow, following an informal agreement to modify some conditionality and transparency practices. The World Bank achieved the authorization and appropriation for the fifteenth replenishment of the International Development Association, with provisions over the use of the labor indicator in the Doing Business report. The role of the IMF in the Eurozone bailouts associated with the Greek and Irish crises is not conclusive in 2011. However, the era of divided government that facilitated a certain degree of support for the Bretton Woods institutions ended with the close of the 111th Congress. The length and character of the revival faces the obstacle of the collapse of the traditional constituencies of support for the IMF and World Bank in the international banking communities in the long term.
Kathryn C. Lavelle
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199765348
- eISBN:
- 9780199918959
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199765348.003.0008
- Subject:
- Political Science, International Relations and Politics
This chapter concludes the study. It summarizes the findings of the empirical chapters, and thus evaluates trends in congressional advocacy for policy change in international organizations. Each ...
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This chapter concludes the study. It summarizes the findings of the empirical chapters, and thus evaluates trends in congressional advocacy for policy change in international organizations. Each phase has been shown to be a product of both the domestic institutional procedures available and the international environment. As with previous episodes, the future will be determined by the structure of the international banking system to emerge from the 2008 crisis. The chapter then makes comparisons of congressional advocacy toward the IMF and World Bank with two other international organizations: the World Trade Organization and the United Nations. The most notable difference with the World Trade Organization is the lack of a budget lever similar to the IMF and World Bank. The most notable difference with the United Nations is that it does not have the same problem with committee jurisdiction in Congress that “orphans” the Bretton Woods institutions. Nonetheless, there are many similarities. The book concludes that legislation for the IMF and World Bank has succeeded despite formidable obstacles. While the separation of powers in the American Constitution has complicated US membership in international organizations, individual members of Congress have also championed them throughout their histories.Less
This chapter concludes the study. It summarizes the findings of the empirical chapters, and thus evaluates trends in congressional advocacy for policy change in international organizations. Each phase has been shown to be a product of both the domestic institutional procedures available and the international environment. As with previous episodes, the future will be determined by the structure of the international banking system to emerge from the 2008 crisis. The chapter then makes comparisons of congressional advocacy toward the IMF and World Bank with two other international organizations: the World Trade Organization and the United Nations. The most notable difference with the World Trade Organization is the lack of a budget lever similar to the IMF and World Bank. The most notable difference with the United Nations is that it does not have the same problem with committee jurisdiction in Congress that “orphans” the Bretton Woods institutions. Nonetheless, there are many similarities. The book concludes that legislation for the IMF and World Bank has succeeded despite formidable obstacles. While the separation of powers in the American Constitution has complicated US membership in international organizations, individual members of Congress have also championed them throughout their histories.
L. J Zigerell and Heather Marie Rice
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691151458
- eISBN:
- 9781400840298
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691151458.003.0017
- Subject:
- Political Science, American Politics
This chapter investigates a new set of measures of attitudes about abortion policy. It argues that the standard ANES battery violates several principles of good question wording and also fails to ...
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This chapter investigates a new set of measures of attitudes about abortion policy. It argues that the standard ANES battery violates several principles of good question wording and also fails to take into account the timing of abortion, which is a central element of American law and current discourse. Strikingly different conclusions about the electorate's views about abortion emerge in the comparison of the standard and new items: whereas the traditional item indicates that a majority of Americans are opposed to abortion in all circumstances, or support it only in the limited rape–incest–life options, the new items suggest a symmetry in abortion attitudes, with as many Americans supporting the extreme pro-choice as the extreme pro-life options.Less
This chapter investigates a new set of measures of attitudes about abortion policy. It argues that the standard ANES battery violates several principles of good question wording and also fails to take into account the timing of abortion, which is a central element of American law and current discourse. Strikingly different conclusions about the electorate's views about abortion emerge in the comparison of the standard and new items: whereas the traditional item indicates that a majority of Americans are opposed to abortion in all circumstances, or support it only in the limited rape–incest–life options, the new items suggest a symmetry in abortion attitudes, with as many Americans supporting the extreme pro-choice as the extreme pro-life options.
Jon A. Krosnick and Arthur Lupia
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691151458
- eISBN:
- 9781400840298
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691151458.003.0020
- Subject:
- Political Science, American Politics
This chapter describes the manner by which the ANES converted the insights of many people into strong and innovative questionnaires. This description is broken into two stages to reflect the nature ...
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This chapter describes the manner by which the ANES converted the insights of many people into strong and innovative questionnaires. This description is broken into two stages to reflect the nature of the decision-making processes. The first stage began in 2006, two years before the general election of 2008. The chapter describes how a large set of new questions were evaluated and which questions were to be included in the 2006 Pilot Study. The second stage began about six weeks after the pilot study, when the data was released to the public. This period started at the end of 2006 and continued into the early months of 2008. The chapter looks at how the Pilot Study Reports from the period were evaluated and how these evaluations affected choices of which questions would appear on one or more of the 2008 studies.Less
This chapter describes the manner by which the ANES converted the insights of many people into strong and innovative questionnaires. This description is broken into two stages to reflect the nature of the decision-making processes. The first stage began in 2006, two years before the general election of 2008. The chapter describes how a large set of new questions were evaluated and which questions were to be included in the 2006 Pilot Study. The second stage began about six weeks after the pilot study, when the data was released to the public. This period started at the end of 2006 and continued into the early months of 2008. The chapter looks at how the Pilot Study Reports from the period were evaluated and how these evaluations affected choices of which questions would appear on one or more of the 2008 studies.
Diana Mutz and Susanna Dilliplane
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691151106
- eISBN:
- 9781400840304
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691151106.003.0005
- Subject:
- Political Science, Democratization
This chapter focuses on the occasion of Republican John McCain's selection of Sarah Palin as a vice-presidential running mate because this event signaled to many voters an abrupt change in McCain's ...
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This chapter focuses on the occasion of Republican John McCain's selection of Sarah Palin as a vice-presidential running mate because this event signaled to many voters an abrupt change in McCain's ideological position. In other words, Palin served as an exogenous shock, with the potential to “send a message” to the public about McCain's ideological stance. Using panel data from the 2008 National Annenberg Election Study (NAES), this chapter analyzes the extent to which Palin's selection altered perceptions of McCain's ideology; the extent to which the perceived ideological shift to the right benefited several election-related outcomes such as favorability toward McCain, vote preference, and turnout; and the extent to which the net impact of the shift helped or harmed his candidacy.Less
This chapter focuses on the occasion of Republican John McCain's selection of Sarah Palin as a vice-presidential running mate because this event signaled to many voters an abrupt change in McCain's ideological position. In other words, Palin served as an exogenous shock, with the potential to “send a message” to the public about McCain's ideological stance. Using panel data from the 2008 National Annenberg Election Study (NAES), this chapter analyzes the extent to which Palin's selection altered perceptions of McCain's ideology; the extent to which the perceived ideological shift to the right benefited several election-related outcomes such as favorability toward McCain, vote preference, and turnout; and the extent to which the net impact of the shift helped or harmed his candidacy.
David B. H. Denoon (ed.)
- Published in print:
- 2021
- Published Online:
- January 2022
- ISBN:
- 9781479804085
- eISBN:
- 9781479804115
- Item type:
- book
- Publisher:
- NYU Press
- DOI:
- 10.18574/nyu/9781479804085.001.0001
- Subject:
- Political Science, Asian Politics
China’s dramatic rise on the world stage was evident by the final decade of the twentieth century. In the period from 1979 to 2008, China played a low-key role, emphasizing economic growth and ...
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China’s dramatic rise on the world stage was evident by the final decade of the twentieth century. In the period from 1979 to 2008, China played a low-key role, emphasizing economic growth and cooperative relations with other countries. Since the global recession of 2008–09, however, China has been more aggressive in both its economic and foreign policy. The goal of this volume is to assess China’s intentions and to evaluate what the Chinese leadership hopes to achieve by actions such as occupying the atolls in the South China Sea and implementing its massive aid program, the Belt and Road Initiative. The volume includes authors with varying perspectives on China’s intentions, allowing the reader to compare competing viewpoints on China’s plans.Less
China’s dramatic rise on the world stage was evident by the final decade of the twentieth century. In the period from 1979 to 2008, China played a low-key role, emphasizing economic growth and cooperative relations with other countries. Since the global recession of 2008–09, however, China has been more aggressive in both its economic and foreign policy. The goal of this volume is to assess China’s intentions and to evaluate what the Chinese leadership hopes to achieve by actions such as occupying the atolls in the South China Sea and implementing its massive aid program, the Belt and Road Initiative. The volume includes authors with varying perspectives on China’s intentions, allowing the reader to compare competing viewpoints on China’s plans.
Anthony Webster, Linda Shaw, Rachael Vorberg-Rugh, and Rachael Vorberg-Rugh (eds)
- Published in print:
- 2016
- Published Online:
- May 2017
- ISBN:
- 9780719099595
- eISBN:
- 9781526120731
- Item type:
- book
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9780719099595.001.0001
- Subject:
- Business and Management, Business History
After decades of flying beneath the radar, co-operation as a principle of business and socio-economic organisation is moving from the margins of economic, social and political thought into the ...
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After decades of flying beneath the radar, co-operation as a principle of business and socio-economic organisation is moving from the margins of economic, social and political thought into the mainstream. In both the developed and developing worlds, co-operative models are increasingly viewed as central to tackling a diverse array of issues, including global food security, climate change, sustainable economic development, public service provision, and gender inequality. This collection, drawing together research from an interdisciplinary group of scholars and co-operative practitioners, considers the different spheres in which co-operatives are becoming more prominent. Drawing examples from different national and international contexts, the book offers major insights into how co-operation will come to occupy a more central role in social and economic life in the twenty-first century.Less
After decades of flying beneath the radar, co-operation as a principle of business and socio-economic organisation is moving from the margins of economic, social and political thought into the mainstream. In both the developed and developing worlds, co-operative models are increasingly viewed as central to tackling a diverse array of issues, including global food security, climate change, sustainable economic development, public service provision, and gender inequality. This collection, drawing together research from an interdisciplinary group of scholars and co-operative practitioners, considers the different spheres in which co-operatives are becoming more prominent. Drawing examples from different national and international contexts, the book offers major insights into how co-operation will come to occupy a more central role in social and economic life in the twenty-first century.
Humeira Iqtidar
- Published in print:
- 2011
- Published Online:
- March 2013
- ISBN:
- 9780226384689
- eISBN:
- 9780226384702
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226384702.001.0001
- Subject:
- Religion, Islam
This book provides an in-depth analysis of two Islamist parties in Pakistan: the highly influential Jama'at-e-Islami; and the more militant Jama'at-ud-Da'wa, widely blamed for the November 2008 ...
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This book provides an in-depth analysis of two Islamist parties in Pakistan: the highly influential Jama'at-e-Islami; and the more militant Jama'at-ud-Da'wa, widely blamed for the November 2008 terrorist attack in Mumbai, India. Basing findings on thirteen months of ethnographic work with the two parties in Lahore, it proposes that these Islamists are involuntarily facilitating secularization within Muslim societies, even as they vehemently oppose secularism. The book offers an account of the workings of both parties that challenges received ideas about the relationship between the ideology of secularism and the processes of secularization. It particularly illuminates the impact of women on Pakistani Islamism, while arguing that these Islamist groups are inadvertently supporting secularization by forcing a critical engagement with the place of religion in public and private life. The book highlights the role that competition among Islamists and their focus on the state as the center of their activity plays in assisting secularization.Less
This book provides an in-depth analysis of two Islamist parties in Pakistan: the highly influential Jama'at-e-Islami; and the more militant Jama'at-ud-Da'wa, widely blamed for the November 2008 terrorist attack in Mumbai, India. Basing findings on thirteen months of ethnographic work with the two parties in Lahore, it proposes that these Islamists are involuntarily facilitating secularization within Muslim societies, even as they vehemently oppose secularism. The book offers an account of the workings of both parties that challenges received ideas about the relationship between the ideology of secularism and the processes of secularization. It particularly illuminates the impact of women on Pakistani Islamism, while arguing that these Islamist groups are inadvertently supporting secularization by forcing a critical engagement with the place of religion in public and private life. The book highlights the role that competition among Islamists and their focus on the state as the center of their activity plays in assisting secularization.
Lee Jussim
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780195366600
- eISBN:
- 9780199933044
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195366600.003.0082
- Subject:
- Psychology, Social Psychology
This chapter captures many of the themes of this book by first summarizing a “story” common throughout the social sciences. It is a story that emphasizes the role of stereotypes, social beliefs, and ...
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This chapter captures many of the themes of this book by first summarizing a “story” common throughout the social sciences. It is a story that emphasizes the role of stereotypes, social beliefs, and interpersonal expectancies in perpetuating and exacerbating demographic inequalities. It points out that, although the scientific evidence does not support it, this “story” remains highly popular among social scientists for two main reasons: Social psychology’s bias in favor of bias leads to a scientific literature filled with biases, not because laypeople’s judgments are so heavily dominated by biases, but because social psychologists seem to so strongly prefer to study bias; and the story has great political appeal as a rhetorical tool in the fight against oppression. This chapter then distinguishes between moral/religious/philosophical/political beliefs, which are rarely capable of being subjected to empirical test and disconfirmation, and scientific beliefs, which are subject to empirical test and disconfirmation. If one’s belief that stereotypes are inaccurate or that self-fulfilling prophecies are powerful and pervasive can be disconfirmed by overwhelming evidence of stereotype accuracy or evidence of weak, fragile, and fleeting self-fulfilling prophecies, then one’s beliefs are scientific. If those beliefs cannot be disconfirmed, they are not scientific, and one should not pretend that they are. The chapter ends with an analysis of the presidential election of 2008, showing that anti-Black racism seemed to play the minimal role in the election that would be predicted by the general perspective taken throughout this book. Bias was real, but small. It is about time that the social sciences started acknowledging that, with respect to social beliefs, social perception, and social reality, the big picture is that the social perception glass (of people judging others) is about 90% full.Less
This chapter captures many of the themes of this book by first summarizing a “story” common throughout the social sciences. It is a story that emphasizes the role of stereotypes, social beliefs, and interpersonal expectancies in perpetuating and exacerbating demographic inequalities. It points out that, although the scientific evidence does not support it, this “story” remains highly popular among social scientists for two main reasons: Social psychology’s bias in favor of bias leads to a scientific literature filled with biases, not because laypeople’s judgments are so heavily dominated by biases, but because social psychologists seem to so strongly prefer to study bias; and the story has great political appeal as a rhetorical tool in the fight against oppression. This chapter then distinguishes between moral/religious/philosophical/political beliefs, which are rarely capable of being subjected to empirical test and disconfirmation, and scientific beliefs, which are subject to empirical test and disconfirmation. If one’s belief that stereotypes are inaccurate or that self-fulfilling prophecies are powerful and pervasive can be disconfirmed by overwhelming evidence of stereotype accuracy or evidence of weak, fragile, and fleeting self-fulfilling prophecies, then one’s beliefs are scientific. If those beliefs cannot be disconfirmed, they are not scientific, and one should not pretend that they are. The chapter ends with an analysis of the presidential election of 2008, showing that anti-Black racism seemed to play the minimal role in the election that would be predicted by the general perspective taken throughout this book. Bias was real, but small. It is about time that the social sciences started acknowledging that, with respect to social beliefs, social perception, and social reality, the big picture is that the social perception glass (of people judging others) is about 90% full.
André Orléan
- Published in print:
- 2014
- Published Online:
- January 2015
- ISBN:
- 9780262026970
- eISBN:
- 9780262323901
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262026970.001.0001
- Subject:
- Economics and Finance, Financial Economics
With the advent of the 2007-2008 financial crisis, the economics profession itself entered into a crisis of legitimacy from which it has yet to emerge. Despite the obviousness of its failures, ...
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With the advent of the 2007-2008 financial crisis, the economics profession itself entered into a crisis of legitimacy from which it has yet to emerge. Despite the obviousness of its failures, however, economists continue to rely on the same methods and to proceed from the same underlying assumptions. André Orléan challenges the neoclassical paradigm in this book, with a new way of thinking about its most fundamental concept, economic value. Orléan argues that value is not bound up with labor, or utility, or any other property that preexists market exchange. Economic value, he contends, is a social force whose vast sphere of influence, amounting to a kind of empire, extends to every aspect of economic life. Markets are based on the identification of value with money, and exchange value can only be regarded as a social institution. Financial markets, for example, instead of defining a neutral, objective value for securities, act as a mechanism for arriving at a reference price that will be accepted by all investors. What economists must therefore study is the hold that value has over individuals and how it shapes their perceptions and behavior. The MIT Press edition of this book, originally published in French, has been substantially revised and enlarged, with an entirely new section discussing the recent financial crisis.Less
With the advent of the 2007-2008 financial crisis, the economics profession itself entered into a crisis of legitimacy from which it has yet to emerge. Despite the obviousness of its failures, however, economists continue to rely on the same methods and to proceed from the same underlying assumptions. André Orléan challenges the neoclassical paradigm in this book, with a new way of thinking about its most fundamental concept, economic value. Orléan argues that value is not bound up with labor, or utility, or any other property that preexists market exchange. Economic value, he contends, is a social force whose vast sphere of influence, amounting to a kind of empire, extends to every aspect of economic life. Markets are based on the identification of value with money, and exchange value can only be regarded as a social institution. Financial markets, for example, instead of defining a neutral, objective value for securities, act as a mechanism for arriving at a reference price that will be accepted by all investors. What economists must therefore study is the hold that value has over individuals and how it shapes their perceptions and behavior. The MIT Press edition of this book, originally published in French, has been substantially revised and enlarged, with an entirely new section discussing the recent financial crisis.
Sarah L. Quinn
- Published in print:
- 2019
- Published Online:
- January 2020
- ISBN:
- 9780691156750
- eISBN:
- 9780691185613
- Item type:
- book
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691156750.001.0001
- Subject:
- Political Science, American Politics
Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of ...
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Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation's founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, this book examines the evolution of securitization and federal credit programs. The book shows that since the Westward expansion, the US government has used financial markets to manage America's complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government's role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America's market-heavy social policies, this book illustrates how political institutions became involved in the nation's lending practices.Less
Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation's founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, this book examines the evolution of securitization and federal credit programs. The book shows that since the Westward expansion, the US government has used financial markets to manage America's complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government's role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America's market-heavy social policies, this book illustrates how political institutions became involved in the nation's lending practices.
Casey B. Mulligan
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199942213
- eISBN:
- 9780199980772
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199942213.001.0001
- Subject:
- Economics and Finance, Public and Welfare
Beginning in 2007, major subsidies and regulations intended to help the poor and unemployed were changed in more than a dozen ways. Many of these changes were reasonable reactions to economic events, ...
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Beginning in 2007, major subsidies and regulations intended to help the poor and unemployed were changed in more than a dozen ways. Many of these changes were reasonable reactions to economic events, with the intention of helping people endure the recession. But the increased redistribution itself also altered the path of the economy—and created employment losses according to age, skill and family composition—by dulling incentives for people to maintain their own living standards. This book presents evidence contradicting the Keynesian notions that work incentives suddenly stop mattering during a recession, or when the interest rate on Federal Funds approaches zero. This book uses prior results from labor economics and public finance to estimate that the labor market contracted two to three times more than it would have if redistribution policies had remained constant. In doing so, it offers novel interpretations of the interplay between unemployment and financial markets during the Great Recession of 2008–9.Less
Beginning in 2007, major subsidies and regulations intended to help the poor and unemployed were changed in more than a dozen ways. Many of these changes were reasonable reactions to economic events, with the intention of helping people endure the recession. But the increased redistribution itself also altered the path of the economy—and created employment losses according to age, skill and family composition—by dulling incentives for people to maintain their own living standards. This book presents evidence contradicting the Keynesian notions that work incentives suddenly stop mattering during a recession, or when the interest rate on Federal Funds approaches zero. This book uses prior results from labor economics and public finance to estimate that the labor market contracted two to three times more than it would have if redistribution policies had remained constant. In doing so, it offers novel interpretations of the interplay between unemployment and financial markets during the Great Recession of 2008–9.
