A social constructivist analysis of the 2007 banking crisis: building trust and transparency through community currencies

Lance Breitstein and Paolo Dini

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This article examines the 2007 banking crisis from an interdisciplinary and, in particular, social constructivist perspective to identify its structural and systemic causes. After presenting and explaining a wide meta-theoretical framework that can accommodate different understandings of socio-economic action, it argues that some of the scale-invariant properties of community currency systems could usefully be applied to global finance. On this basis, it presents a concrete proposal for strengthening the democratic dimension of the banking system as a vital nexus between the real economy, government and society.

Keywords: ISI; banking reform; risk management; community currencies; voluntary transparency (search for similar items in EconPapers)
JEL-codes: G21 G28 (search for similar items in EconPapers)
Date: 2011-12-14
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Citations: View citations in EconPapers (1)

Published in Journal of Banking Regulation, 14, December, 2011, 13(1), pp. 36-62. ISSN: 1745-6452

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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:38639

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