Normalized Financial Wrongdoing: How Re-regulating Markets Created Risks and Fostered Inequality

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Synopsis
In Normalized Financial Wrongdoing, Harland Prechel examines how social structural arrangements that extended corporate property rights and increased managerial control opened the door for misconduct and, ultimately, the 2008 financial crisis. Beginning his analysis with the financialization of the home-mortgage market in the 1930s, Prechel shows how pervasive these arrangements had become by the end of the century, when the bank and energy sectors developed political strategies to participate in financial markets. His account adopts a multilevel approach that considers the political and legal landscapes in which corporations are embedded to answer two questions: how did banks and financial firms transition from being providers of capital to financial market actors? Second, how did new organizational structures cause market participants to engage in high-risk activities? After careful historical analysis, Prechel examines how organizational and political-legal arrangements contribute to current record-high income and wealth inequality, and considers societal preconditions for change.
Copyright:
2020

Book Details

Book Quality:
Publisher Quality
Book Size:
384 Pages
ISBN-13:
9781503614468
Related ISBNs:
9781503614451, 9781503602380
Publisher:
Stanford University Press
Date of Addition:
Copyrighted By:
Stanford University Press
Adult content:
No
Language:
English
Has Image Descriptions:
No
Categories:
History, Nonfiction, Business and Finance, Social Studies, Politics and Government
Submitted By:
Bookshare Staff
Usage Restrictions:
This is a copyrighted book.

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