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.