by Gail Hairston
LEXINGTON, KY (Feb. 28, 2014) — The Committee on Social Theory Spring Lecture Series continues its review of global financial markets as Greta Krippner is set to discuss “The Crisis in Market Regulation” at 2 p.m. Friday, Feb. 28, on the 18th floor of the Patterson Office Tower.
Krippner finds that state policies created the conditions conducive to “financialization” that solved some policy dilemmas of the 1970s and 1980s, but created major weaknesses that would ultimately fail in the new millennium.
Financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state's attempts to solve other problems, especially the stagnation and deregulation in the 1970s and 1980s, the encouragement of foreign capital in the U.S. economy, and large trade imbalances caused by direct foreign investment.
The next public lecture in the series will be “The Nature of Famines” at 2 pm. April 4, same location.