Krippner And The Financial Crisis Summary

Krippner believes that the background to the financial crisis 2008 was the financialization of the U.S. economy partially brought about the reaction of political policy makers to the triple crises of the U.S. society that began in the mid 1970’s (the social crisis, the fiscal crisis and the legitimation crisis). However, Streeck believe that going through the period of the financial crisis of 2008 the U.S. and European states have gone from being from being tax states to debt states and following the crisis to becoming consolidation. In the reading, what is financialization? Greta Krippner page 37, said this pattern likely reflects the fact that manufacturing firms confronting large capital expenditures for plant and equipment were affected

Where it begins is policymaker people who worker for the states like the official or policies advocated way back at the end of 60s and early 70s. I develop this argument by introducing the notion of financialization as a more specific way of describing the underlying shift in the structure of the U.S. economy that Bell identified with the term “post-industrialism.” That is the investor socialization of american that Bell spot it in the mid-70s by financialization I refer to the broad-based transformation in which financial activities rather than services generally have become increasingly dominant in the U.S. economy. To the states what she refers to as policymaker the argument gone be these people aren’t in charge invest wealth, they are in charge running various states agencies implying various policies these character what they did in the 1970s and so many different things they were doing in 1980s and beyond contribute to that shift they make it possible of the indirectly encourages people who are in charges wealth decides that more and more they were gone turn investment into financial direction

That policymaker begin to face these crisis by the late 60s or the late 70’s that they didn’t face vary much off in late 40s and early 50s and 60s there the revenues that they had tax states or tax ravenous fighting to which program needed more funding then the other program but they probably have enough money to do various things that the states was more and more expected to do by the early 70s these kind triple crisis began one of them is the fiscal crisis that the tax states began to fall you can see it simplify tax rate that not the only things reason. One of the things occurred in the early 70s that make that worst is the economy begin to slow down (american economy) through the 50s and 60s the american economy take advantage position of the country emerge out of WWII, but the U.S. is the only powerful economy and take advantage of that position is able to bloom growing economy is one of the result of it more money paid in taxes because you making more money rather you do wages labor in the company, so the tax states is more or less successful sustainable in that period doing most of the things set out to do of courses there always debt some people one more money in social program or the military program etc. but by doing period fiscal crisis begin to end and the tax