idw – Informationsdienst Wissenschaft
Nachrichten, Termine, Experten
Nachrichten, Termine, Experten
Commentary: Sigurt Vitols (WZB)
Moderation: Arndt Sorge (WZB)
Most observers tend to see the recent financial crisis as a unique event - the unfortunate coincidence of globalization, financial innovation, lax regulation and "animal spirits." This seminar, however, will show how different perspectives in political economy can highlight the common characteristics of financial crisis over time as well as possible solutions to these crises.
Robert Boyer, one of the major proponents of the French Regulation School, will draw on recent work to develop a historical and comparative perspective on the current financial crisis. According to this view, the current subprime crisis takes place with the backdrop of a long history of financial innovations, which first generate an economic boom and euphoria and then trigger a major financial crisis. The present crisis originates from the massive transfer of risk associated with securitization. This systemic crisis led to the collapse of the Wall Street business model and has fundamentally challenged the naïve belief that financial markets are self-regulating. For the US economy, this means the death of a finance-led growth model based upon an unsustainable increase in consumer debt.
The core policy proposal advanced by Boyer is to institute the same kind of collective control over financial innovations that already exists in most sectors of societal importance. Sigurt Vitols, senior research fellow at the WZB, will add some comments drawing on a recent research stay in the US which focus on the comparative dimensions of the crisis in Europe and the US.
Arndt Sorge is acting director of the research unit "Internationalization and Organization"
This seminar is part of the dialogue series "Finanzkrise - Forschung - Politik".
Information on participating / attending:
The WZB provides for child care during the lecture. If you are interested, please respond by May 20, 2009, indicating the number of children and their age.
To register, please reply by May 22, 2009, to Marie Unger: finanzkrise@wzb.eu
Date:
05/26/2009 17:00 - 05/26/2009 20:00
Registration deadline:
05/22/2009
Event venue:
Reichpietschufer 50, Raum A 300
10785 Berlin
Berlin
Germany
Target group:
Journalists, Scientists and scholars
Email address:
Relevance:
transregional, national
Subject areas:
Economics / business administration, Politics, Social studies
Types of events:
Entry:
05/12/2009
Sender/author:
Dr. Paul Stoop
Department:
Informations- und Kommunikationsreferat
Event is free:
yes
Language of the text:
German
URL of this event: http://idw-online.de/en/event27355
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