The stretched rubber band
Banks, houses, debt and vulnerability in Australia
Bibliographic Data
| ID | 6234091 |
|---|---|
| Authors | Terri Conley (0000-0003-1592-8779, Griffith University, corresponding author), Tom Conley (0000-0002-3246-7524, Griffith University) |
| Year | 2018 |
| Volume | 53 |
| Issue | 1 |
| Pages | 40-56 |
| Publication date | 2018-01-02 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Australian Journal of Political Science (JOURNAL) |
| Journal identifiers | ISSN: 1036-1146 • E-ISSN: 1363-030X |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/10361146.2017.1378311 |
| OpenAlex | W2754640762 |
| Language | EN |
| Citations received | 4 |
| References cited | 27 |
This article analyses the development of residential capitalism and financialisation in Australia. It outlines the series of economic vulnerabilities developing in the financial system, centred on household debt and inflated property markets. It then analyses why policy-makers have done so little to restrict the growth of household debt and house prices. I argue that financial policy-makers have underestimated the financial vulnerabilities building up in Australia – as evidenced by the slow take-up of macroprudential policies. I outline four reasons: first, the excellent profit performance of the major banks; second, the policy predilection for idealised economic liberal regulation; third, the development of a politico-housing complex; and, finally, the growing role of household debt in ameliorating distributional conflict by underpinning growth
Business · Capitalism · Debt · Economics · Household debt · Market economy · Political science · Politics · Profit (economics · Underpinning · Vulnerability (computing · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Political Economy and Marxism · Finance
The Ideology of Home Ownership
The Politics of Housing Booms and Busts
Financialization and the World Economy
Financialization and housing
Buying Time
States and the Reemergence of Global Finance
The Retreat of the State
Varieties of Residential Capitalism in the International Political Economy
What has debt got to do with it? The Valuation of Homeownership in the Era of Financialization
The ‘Politics’ of Australian Housing
Are Governments Really Interested in Fixing the Housing Problem? Policy Capture and Busy Work in Australia
Discourses around negative gearing of investment properties in Australia
The Politics of Foreign Investment in Australian Housing
Privatised Keynesianism
How to Study Contemporary Capitalism
The Growth of Finance
The Political Economy of Ownership
Global Finance, Labor Politics, and the Political Economy of Housing Prices
The Contradictory Logics of Financialization
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,67 |
| Citation span | 2020 - 2026 (7) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 4 |