The financial crisis in the US 2008-2009

Losing and Restoring Confidence

Datos Bibliográficos

ID4968825
AutoresRichard Swedberg (0000-0003-0635-0581, Cornell University, autor de correspondencia)
Año2013
Volumen11
Número3
Páginas501-523
Fecha de publicación2013-07-01
Open AccessNo
TipoARTICLE
RevistaSocio-Economic Review (JOURNAL)
Identificadores de la revistaISSN: 1475-1461 • E-ISSN: 1475-147X
EditorialOxford University Press (PUBLISHER • GB)
DOI10.1093/ser/mws022
OpenAlexW2316962289
IdiomaEN
Citas recibidas9
Referencias citadas4

Confidence is an understudied topic in modern economics as well as in modern sociology, but vital to an understanding of financial markets and financial crises. In this article, I suggest what a theory of confidence may look like that is centered around signs. With the help of this theoretical approach, to which I add some ideas by Walter Bagehot, I explore the financial crisis of 2008–2009 in the USA, how confidence was lost during the fall of 2008 in connection with the bankruptcy of Lehman Brothers, and especially how it was then restored in the spring of 2009. I conclude that the processes of loosing and restoring confidence differ.

Bankruptcy · Black swan theory · Confidence interval · Economics · Epistemology · Financial crisis · Financial market · Keynesian economics · Banking stability, regulation, efficiency · Economic Theory and Policy · Finance · Housing, Finance, and Neoliberalism · Philosophy

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