Systemic Risk: The Myth of Rational Finance and the Crisis of Democracy

Systemic Risk: The Myth of Rational Finance and the Crisis of Democracy
ISBN-10
3593399881
ISBN-13
9783593399881
Series
Systemic Risk
Category
Political Science
Pages
285
Language
English
Published
2013-09
Publisher
Campus Verlag
Authors
Helmut Willke, Eva Becker, Carla Rostásy

Description

Five years have passed since the outbreak of one of the worst financial crises the world has ever witnessed. Yet, despite the exceedingly diverse range of publications that have sought to explain the causes and the logic of the crisis, central questions have remained unanswered. Indeed, not only has systemic risk become a buzzword, but it has also developed into an acute threat. But what exactly constitutes the very essence of this concept, and ought it to be considered an economic or a political phenomenon? In addressing these questions, this volume draws upon political economy as an approach to analyze the concept of systemic risk as well as corresponding dilemmas of political order, legitimacy, and expertise. The resulting discussion posits major consequences for the political governance of financial systems in the increasingly interconnected world of the twenty-first century.

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