The Financial Crisis in Constitutional Perspective: The Dark Side of Functional Differentiation
Poul F Kjaer · Gunther Teubner · Alberto Febbrajo
Jul 2011 · Bloomsbury Publishing
Ebook
464
Pages
reportRatings and reviews aren’t verified Learn More
About this ebook
This volume presents the first thorough sociologically-informed legal analysis of the financial crisis which unfolded in 2008. It combines a multitude of theoretically informed analyses of the causes, dynamics and reactions to the crisis and contextualises these within the general structural transformations characterising contemporary society. It furthermore explores the constitutional implications of the crisis and suggests concrete changes to the constitutional set-up of contemporary society.
Although the question of individual responsibility is of crucial importance, the central idea animating the volume is that the crisis cannot be reduced to a mere failure of risk perception and management for which individual and collective actors within and outside of financial organisations are responsible. The 2008 crisis should rather be understood as a symptom of far deeper structural transformations. For example contemporary society is characterised by massive accelerations in the speed with which societal processes are reproduced as well as radical expansions in the level of globalisation. These transformations have, however, been asymmetrical in nature insofar as the economic system has outpaced its legal and political counterparts. The future capability of legal and political systems to influence economic reproduction processes is therefore conditioned by equally radical transformations of their respective operational forms and self-understanding. Potentially the 2008 crisis, therefore, has far-reaching constitutional implications.
Although the question of individual responsibility is of crucial importance, the central idea animating the volume is that the crisis cannot be reduced to a mere failure of risk perception and management for which individual and collective actors within and outside of financial organisations are responsible. The 2008 crisis should rather be understood as a symptom of far deeper structural transformations. For example contemporary society is characterised by massive accelerations in the speed with which societal processes are reproduced as well as radical expansions in the level of globalisation. These transformations have, however, been asymmetrical in nature insofar as the economic system has outpaced its legal and political counterparts. The future capability of legal and political systems to influence economic reproduction processes is therefore conditioned by equally radical transformations of their respective operational forms and self-understanding. Potentially the 2008 crisis, therefore, has far-reaching constitutional implications.
About the author
Poul F Kjaer is Alexander von Humboldt Fellow at the Cluster of Excellence: Formation of Normative Orders, Goethe University Frankfurt am Main.
Gunther Teubner is Professor of Law and Principal Investigator at the Cluster of Excellence: Formation of Normative Orders, Goethe University Frankfurt am Main and Distinguished Professor at the International University College, Torino.
Alberto Febbrajo is Professor of Sociology and Anthropology of Law at the University of Macerata, Italy.
Gunther Teubner is Professor of Law and Principal Investigator at the Cluster of Excellence: Formation of Normative Orders, Goethe University Frankfurt am Main and Distinguished Professor at the International University College, Torino.
Alberto Febbrajo is Professor of Sociology and Anthropology of Law at the University of Macerata, Italy.
Rate this ebook
Tell us what you think.
Reading information
Smartphones and tablets
Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.
Laptops and computers
You can listen to audiobooks purchased on Google Play using your computer's web browser.
eReaders and other devices
To read on e-ink devices like Kobo eReaders, you'll need to download a file and transfer it to your device. Follow the detailed Help Center instructions to transfer the files to supported eReaders.
