Capitalism's global financial crisis
The role of the state
Bibliographic Data
| ID | 12008355 |
|---|---|
| Authors | Chong Ju Choi (China 21st Investments Limited, Beijing, China), Ron Berger (0000-0002-6356-5506, Department of Marketing and Strategy, Interdisciplinary Center (IDC) Herzliya, Israel, corresponding author), Jai Boem Kim (Sungkyunkwan University) |
| Year | 2010 |
| Volume | 47 |
| Issue | 4 |
| Pages | 829-835 |
| Publication date | 2010-10-04 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Social Science Journal (JOURNAL) |
| Journal identifiers | ISSN: 0362-3319 • E-ISSN: 1873-5355 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1016/j.soscij.2010.04.004 |
| OpenAlex | W2032093791 |
| Language | EN |
| Citations received | 1 |
| References cited | 16 |
The bankruptcy and merger of three major American investment banks: Bear Stearns, Lehmann Brothers and Merrill Lynch in 2008 have shocked the United States government to undertake dramatic market intervention by the state, and a $700 billion U.S. dollar bailout, that resembles “industrial policy” in many other countries. Critics of market intervention, often called industrial policy in many countries, point out to two potential weaknesses: governments may have less knowledge than markets on how to pick winners and industrial policy creates possibilities of corruption and rent seeking. This research note's contribution analyzes the global financial crisis of 2008 and 2009, through the importance of, institutional infrastructures, and how industrial policy can help create the institutional infrastructures that can expand economic wealth and stability for all countries in the 21st century
Bailout · Bankruptcy · Business · Capitalism · Economic interventionism · Economic policy · Economics · Financial crisis · Financial system · Government (linguistics · Industrial policy · Intervention (counseling · Investment (military · Language change · Liberian dollar · Macroeconomics · Market economy · Political science · Politics · State (computer science · Economic Theory and Policy · Finance
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Asia's Next Giant
Social” “capital”
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Global inequality, water pollution, and infant mortality
Evolution of economic institutions and China’s economic reform
The ongoing tragedy of the commons
Economic development as self-discovery
Redescribing the public interest
Governing the Market
Can Neoclassical Economics Underpin the Reform of Centrally Planned Economies
Efficient Redistribution
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,08 |
| Citation span | 2014 - 2014 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |