Political Governance of Capitalism

Helmut Willke and Gerhard Willke

in Books from Edward Elgar Publishing

Abstract: This path-breaking book highlights that systemic risks emerge from a globally operating financial industry that is not only disconnected from the real economy but also allowed to hide in ‘shadow banking’ practices. Governance based on national regimes fails to cover ‘finance-led’ global capitalism. The authors argue that the risk of systemic meltdown will reappear unless intelligent governance regimes are installed, combining legally binding rules and civil society pressures to restore the balance between risk-taking and accountability. They illustrate the goal is ‘resilient’ capitalism in which the rules of the game are set by politics and knowledge-based discourse.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
JEL-codes: B5 E12 (search for similar items in EconPapers)
Date: 2012
ISBN: 9781781006184
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