Financial Crisis Management and Democracy : : Lessons from Europe and Latin America.

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Place / Publishing House:Cham : : Springer International Publishing AG,, 2020.
©2021.
Year of Publication:2020
Edition:1st ed.
Language:English
Online Access:
Physical Description:1 online resource (372 pages)
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Table of Contents:
  • Financial Crisis Management and Democracy
  • Financial Crisis Management and Democracy
  • Acknowledgements
  • Contents
  • Chapter 1: Introduction
  • References
  • Part I: Global Economic Crisis
  • Chapter 2: The Road from Prosperity into the Crisis: The Long Cycle of Post-War Economic, Social and Political Development
  • Introduction and Overview
  • Framework Conditions and Economic Performance of Western Capitalism During the 1960s and 1970s
  • Systemic Changes in Global Capitalism Since the 1970s and Their Impact
  • Macroeconomic Effects of Bull Markets and Bear Markets
  • How Bull and Bear Markets Are Brought About
  • A General Framework: Real Capitalism and Finance Capitalism
  • Employment Under Real-Capitalist and Finance-Capitalist Conditions
  • Public Finances Under Real-Capitalist and Finance-Capitalist Conditions
  • Production of Economic Theories and Long-Term Economic Development
  • The "Long Cycle" as Sequence of Real-Capitalist and Finance-Capitalist Regimes
  • The European Model and the US Model Under Real-Capitalist and Finance-Capitalist Conditions
  • References
  • Chapter 3: The Systemic Nature of the Global Crisis and Some Principles for Tackling It
  • A Holistic View, A Concerning Diagnostic
  • How to Explain the Absence of a Coherent Reaction to the Present Unsustainability of the World Economy?
  • Some Paths Towards a Solution
  • References
  • Part II: Regional Governance and Crisis Management in Europe and Latin America
  • Chapter 4: The Double Democratic Deficit
  • Introduction
  • EMU Crisis Management
  • "Bailing Out of the Banks": Yet Another Moral Hazard
  • The EERP: EMU's Only Countercyclical Fiscal Stimulus Programme - A Short-Lived Experienced
  • Breaking the Sovereign Banking Nexus: Banking Union
  • Monetary Policy
  • The Sovereign Debt Crisis: Assessing Causes.
  • Consequences of "Governing by Rules" and "Ruling by Numbers" (Schmidt 2015)
  • Going Back in Time: A Failure of Design?
  • Democratic Legitimacy and Accountability
  • Conclusions
  • Bibliography
  • Chapter 5: European Union's Democratic Legitimacy after the MoUs: The Political Legacy of an Economic Crisis
  • Introduction
  • EU's Legitimacy Before the Crisis
  • EU's Legitimacy After the Crisis
  • EU's Input Legitimacy and the Crisis
  • The Impact of the Crisis and EU's Output Legitimacy
  • Conclusions
  • References
  • Chapter 6: Finance Capitalism and Democracy: The Case of the Financial Transactions Tax
  • Introduction
  • After the Financial Crisis: Pros and Cons of an FTT and the Fight for Public Opinion
  • The Proposal of the European Commission and the Attempts to Implement the Tax
  • The Successful Counter-attack of the Financial Lobby Since 2013
  • References
  • Chapter 7: Regional Governance and Macroeconomic Crisis Management in Latin America
  • Introduction
  • Regional Governance and Economic Crisis Management in Latin America by Regional Organizations
  • Other Multilateral Mechanisms to Manage Economic Crisis in Latin America
  • Concluding Remarks
  • Literature
  • Part III: Impact of the Crisis in Europe and Latin America: National Level
  • Chapter 8: Managing the Crisis in Greece: The Missing Link between External Conditionality and Domestic Political Economy
  • Introduction
  • The Domestic Politico-Economic System
  • External Conditionality: An Overview of the Policy and Institutional Aspects of the Adjustment Programs
  • Assessing the Compatibility of the External Constraint and Domestic Institutions
  • Conclusions
  • References
  • Chapter 9: The Crisis: Its Management and Impact on Equity and Democracy in Portugal and Possible Consequences for the EU
  • Introduction
  • The Context: Portugal Before the Crash-Not All Well, Even Then.
  • The Response and Role of the European Union
  • The Absence of Populism in Portugal?
  • Future Challenges
  • Conclusions
  • References
  • Chapter 10: The 2011 Crisis in Italy: A Story of Deep-Rooted (and Still Unresolved) Economic and Political Weaknesses
  • When Did the Crisis Start? International Triggers and National Ingrained Causes
  • Deep-Rooted National Weaknesses
  • International Context
  • The Policy Responses: Austerity and Reforms
  • The Economic and Political Legacy
  • What Have We Learned or What We Should Have Learned?
  • Appendix: Table with Economic Indicators
  • References
  • Chapter 11: Latin American Economic Crises and Populist Bids: Argentina, Brazil and Mexico
  • Introduction
  • From Over-Indebtedness to Economic Collapse: Latin American Saga
  • Liberalization Policies Cum Financial Crises in the 1980s and 1990s
  • Mexico
  • Argentina
  • Brazil
  • Policy Responses to the 2008 Crisis
  • Policy Changes
  • Conclusion
  • References
  • Chapter 12: The Fall of a Giant: Greed, Corruption and Abuse of Power Undermining Democracy in Brazil
  • Introduction
  • Pendular Democracy: The Democracy Paradox from 2013 Demonstrations to the Election of Bolsonaro
  • 2013 Demonstrations
  • Dilma's Impeachment
  • Temer's Government and the Neoliberal U-Turn
  • Federal Intervention in Rio de Janeiro and the Comeback of the Military
  • The Election of Bolsonaro
  • Lula's Imprisonment and the Assassination of Marielle: Rule of Law Under Threat
  • Conclusions: Challenges Ahead
  • References
  • Chapter 13: Venezuela in Crisis: Governability, Equity and Democracy
  • Introduction
  • The Context: What Type of Crisis in Venezuela?
  • The Economic Crisis
  • The Social Crisis
  • The Political Crisis
  • The Response of the International Community
  • The Reasons for Failure-And (Limited) Options for Action
  • Conclusions
  • References.
  • Part IV: Impact of the Crisis in Europe and Latin America: Regional Level
  • Chapter 14: The Rise of Right-Wing Populism in Europe: A Psychoanalytical Contribution
  • Introduction
  • It's the Economy, Stupid: The Role of Economic Factors in the Rise of Support for Right-Wing Populism
  • They Steal Our Jobs, Rape Our Women, and Refuse to Integrate: The Role of Migration in the Rise of Support for Right-Wing Populism
  • They Do Not Represent Us: The Role of Traditional Political Parties in the Rise of Support for Right-Wing Populism
  • The Nation as a Privileged Object of Identification: The Role of Affects in the Rise of Support for Right-Wing Populism
  • Concluding Remarks
  • References
  • Chapter 15: European Economic Governance and Rising Sovereignism
  • Introduction
  • Populism: The Mother of All European Sovereignist Parties
  • European Economic Governance and Citizens' Welfare
  • Sovereignism and the Economy
  • Conclusion
  • References
  • Chapter 16: Eurozone Crisis Management and the Growth of Opposition to European Integration
  • Introduction
  • The Crisis and Public Support for the EU and the Euro
  • The EU's Image
  • Trust in the EU
  • Support for the Single Currency
  • The Crisis and Public Support for the EU and the Euro: Implications for European Integration
  • The Rise of Eurosceptic Parties in the Southern Periphery
  • The Marginality of Party Euroscepticism in the Pre-Crisis Southern Periphery
  • Eurosceptic Breakthroughs
  • Eurosceptic Impact
  • Conclusions: Crisis, Euroscepticism and the Future of European Integration
  • References
  • Chapter 17: A "Pink Tide" Then a "Turn to the Right": Populisms and Extremism in Latin America in the Twenty-First Century
  • Introduction
  • Populism, Democracy and Neoliberalism in Latin America: A Brief History
  • The Contradictory Cases of Mass Protests in Bolivia and Chile.
  • Understanding Right-Wing Extremism Through the Access and Exercise of Political Power
  • The Politics of Social Antagonism in Brazil
  • Conclusion
  • References
  • Chapter 18: The Crisis of Latin American Regionalism and Way Ahead
  • Introduction
  • Mercosur: From Open Regionalism to Post-Liberal Regionalism and Back?
  • UNASUR: A Process in Deep Crisis
  • ALBA: When Domestic, Regional and Global Factors Matter
  • Pacific Alliance: The Way Ahead?
  • Concluding Remarks: Rising From the Ashes? South American Regionalism After the Crisis
  • References
  • Part V: Conclusions
  • Chapter 19: Comparing the Crises in Europe and Latin America: Causes, Management, Impact and Consequences
  • Introduction
  • Financial Crises in Global Historical Context: Exploring the Common Systemic Causes of the Current Situation
  • Regional and Country-Based Causes and Management of the Crisis
  • Impact and Consequences of the Crisis at the Domestic and Regional Levels: Challenges to Equity, Democracy and Regionalism
  • Final Remarks
  • Part VI: Reform Proposals
  • Chapter 20: Financial Instability, Climate Change and the "Digital Colonization" of Europe: Some Unconventional Proposals
  • Key Challenges for Overcoming the Present Crisis
  • Promotion of Activities in the Real Economy Through Restricting "Finance Alchemy"
  • Foundation of the European Monetary Fund
  • Transition from Continuous Trading to Electronic Auctions
  • General Financial Transactions Tax
  • Towards a Supranational Monetary System
  • Improving the Environment as (Transitory) "Growth Engine"
  • Fixing the Long-Term Price Path of Crude Oil, Coal and Natural Gas in the EU
  • Thermic Renovation of the Stock of Buildings in the EU
  • Trans-European Network of High-Speed Railways
  • Overcoming Europe's "Digital Colonization"
  • References.
  • Chapter 21: Promoting Investment in the European Union, Evaluating the Juncker Plan.