The financialization of the American economy

Socio-Economic Review

Volumn 3, Issue 2, 2005, Pages 173-208

  Krippner, Greta R ^a  

^a UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Economic change; Economic sociology; Financialization; Macro economic and indicators United States

Indexed keywords

EID: 17644368225     PISSN: 14751461     EISSN: None     Source Type: Journal    
DOI: 10.1093/SER/mwi008     Document Type: Article

References (78)

1. Arrighi, G. (1994) The Long Twentieth Century: Money, Power, and the Origins of Our Times, London, Verso.
2. Arrighi, G. and Silver, B. (1999) Chaos and Governance in the Modern World System, Minneapolis, University of Minnesota Press.
3. Bell, D. (1973) The Coming of Post-Industrial Society: A Venture in Social Forecasting, New York, Basic Books.
4. Berle, A. and Means, G. C. (1932) The Modern Corporation and Private Property, New York, Macmillan Company.
5. Block, F. (1987) Revising State Theory: Essays on Politics and Postindustrialism, Philadelphia, Temple University Press.
6. Block, F. (1990) 'The Power of Accounting: Depreciation in the National Accounts'. Unpublished Manuscript, Sociology Department, University of California- Davis.
7. Bluestone, B. and Harrison, B. (1982) The Deindustrialization of America: Plant Closings, Community Abandonment, and the Dismantling of Basic Industries, New York, Basic Books.
8. Boies, J. and Prechel, H. (2002) 'Capital Dependence, Business Political Behavior, and Change to the Multilayered Subsidiary Form.' Social Problems, 49, 301-26.
9. Braudel, F. (1982) The Wheels of Commerce. Civilization and Capitalism 15th-18th Century, Vol. II, Berkeley, University of California Press.
10. Brenner, R. (1998) 'The Economics of Global Turbulence: A Special Report on the World Economy, 1950-1998', New Left Review, 229, 1-265.
11. Brenner, R. (2002) The Boom and the Bubble: The US in the World Economy, London,Verso.
12. Burt, R. S. (1983) Corporate Profits and Cooptation, New York, Academic Press.
13. Castells, M. (1996) The Information Age: Economy, Society, and Culture, Oxford, Blackwell Publishers.
14. Cerny, P. (1996) 'International Finance and the Erosion of State Power'. In Gummett, P. (ed.) Globalization and Public Policy, Brookfield, VT, Edward Elgar, pp. 83-104.
15. Clark, C. (1940) The Conditions of Economic Progress, London, Macmillan.
16. Crotty, J. (Forthcoming) 'The Neoliberal Paradox: The Impact of Destructive Product Market Competition and "Modern" Financial Markets on Non-financial Corporation Performance in the Neoliberal Era'. In Epstein, G. (ed.) Financialization and the World Economy, Northhampton, MA, Edward Elgar.
17. Davis, G. and Stout, S. (1992) 'Organization Theory and the Market for Corporate Control: A Dynamic Analysis Characteristics of Large Takeover Targets', Administrative Science Quarterly, 37, 605-33.
18. Davis, G. and Thompson, T. (1994) 'A Social Movement Perspective on Corporate Control', Administrative Science Quarterly, 39, 141-73.
19. Domhoff, G. W. (1967) Who Rules America?, Englewood Cliffs, NY, Prentice Hall.
20. Duménil, G. and Lévy, D. (2002) 'Neoliberalism: The Crime and the Beneficiary', Review, XXV, 393-400.
21. Duménil, G. and Lévy, D. (2004) Capital Resurgent: Roots of the Neoliberal Revolution, Cambridge, MA, Harvard University Press.
22. Epstein, G. and Jayadev, A. (Forthcoming) 'The Determinants of Rentier Incomes in OECD Countries: Monetary Policy, Financial Liberalization, and Labor Solidarity'. In Epstein G. (ed.) Financialization and the World Economy, Northhampton, MA, Edward Elgar.
23. Felix, D. (1998) 'Asia and the Crisis of Financial Globalization'. In Baker, D., Epstein, G. and Pollin, R. (eds) Globalization and Progressive Economic Policy, Cambridge, Cambridge University Press, pp. 163-91.
24. Fligstein, N. (1990) The Transformation of Corporate Control, Cambridge, MA, Harvard University Press.
25. Fligstein, N. (2001) The Architecture of Markets: An Economic Sociology of Twenty-First Capitalist Societies, Princeton, NJ, Princeton University Press.
26. Frobel, F., Heinrichs, J. and Kreye, O. (1980) The New International Division of Labor: Structural Unemployment in Industrialised Countries and Industrialisation in Developing Countries, Cambridge, Cambridge University Press.
27. Froud, J., Haslam, C., Johal, S. and Williams, K. (1998) 'Breaking the Chains? A Sector Matrix for Motoring', Competition and Change, 3, 293-334.
28. Froud, J., Haslam, C., Johal, S. and Williams, K. (2000) 'Shareholder Value and Financialization: Consultancy Promises, Management Moves', Economy and Society, 29, 80-110.
29. Froud, J., Haslam, C., Johal, S. and Williams, K. (2002) 'Cars After Financialisation: A Case Study in Financial Under-Performance, Constraints, and Consequences', Competition and Change, 6, 13-41.
30. Galbraith, J. K. (1967) The New Industrial State, NewYork, New American Library.
31. Garrett, G. (1998) 'Global Markets and National Policies: Collision Course or Virtuous Circle?', International Organization, 52, 787-824.
32. Garrett, G. and Mitchell, D. (2001) 'Globalization, Government Spending, and Taxation in the OECD', European Journal of Political Research, 2, 145-77.
33. Gill, S. and Law, D. (1988) The Global Political Economy, Baltimore, Johns Hopkins University Press.
34. Gordon, D. (1988) 'The Global Economy: New Edifice or Crumbling Foundations?, New Left Review, 168, 24-64.
35. Greider, W. (1997) One World, Ready or Not: The Manic Logic of Global Capitalism, New York, Simon and Schuster.
36. Guillen, M. F. (2001) 'Is Globalization Civilizing, Destructive, or Feeble? A Critique of Five Key Debates in the Social Science Literature', Annual Review of Sociology, 27, 235-60.
37. Hakim, D. (2004) 'Detroit Profits Most from Loans, Not Cars', New York Times, July 22, C1.
38. Helleiner, E. (1994) States and the Reemergence of Global Finance: From Bretton Woods to the 1990s, Ithaca, NY, Cornell University Press.
39. Henwood, D. (1997) Wall Street: How It Works and For Whom, London, Verso Press.
40. Hicks, A. (1999) Social Democracy and Welfare Capitalism: A Century of income Security Politics, Ithaca, Cornell University Press.
41. Hilferding, R. ([1910] 1981) Finance Capital: A Study in the Latest Phase of Capitalist Development, London, Routledge and Kegan Paul.
42. Hirst, P. and Thompson, G. (1999) Globalization in Question, Cambridge, Polity Press.
43. Hobson, J. A. ([1902] 1971) Imperialism: A Study, Ann Arbor, University of Michigan Press.
44. Hobson, J. M. and Ramesh, M. (2002) 'Globalisation Makes of States What States Make of It: Between Agency and Structure in the State/ Globalisation Debate', New Political Economy, 7, 5-22.
45. Huber, E. and Stephens, J. D. (2001) Development and Crisis of the Welfare State: Parties and Policies in Global Markets, Chicago, University of Chicago Press.
46. Kotz, D. (1978) Bank Control of Large Corporations in the United States. Berkeley. University of California Press.
47. Krippner, G. R. (2003) 'The Fictitious Economy: Financialization, the State, and Contemporary Capitalism', Ph.D. Dissertation, Sociology Department, University of Wisconsin-Madison.
48. Krippner, G. R. (2005) 'Data Appendix to'The Financialization of the American Economy', available at: http://www.soc.ucla.edu/ faculty.php?lid=2399&display_one=1.
49. Lazonick, W. and O'Sullivan, M. (2000) 'Maximizing Shareholder Value: A New Ideology for Corporate Governance', Economy and Society, 29 13-35.
50. Lenin ([1916] 1988) Imperialism, The Highest Stage of Capitalism: A Popular Outline, New York, International Publishers.
51. Magdoff, H. and Sweezy, P. M. (1987) Stagnation and the Financial Explosion, New York, Monthly Review Press.
52. Marglin, S. and Schor, J. (eds) (1990) The Golden Age of Capitalism Oxford, Oxford University Press.
53. Merton, R. K. (1959) 'Notes on Problem-Finding in Sociology'. In Merton, R., Broom, L. and Cottrell, L. S. Sociology Today: Problems and Prospects, NewYork, Basic Books, pp. ix-xxxiv.
54. Mintz, B. and Schwartz, M. (1985) The Power Structure of American Business, Chicago, University of Chicago Press.
55. Mizruchi, M. (1996) 'What Do Interlocks Do? An Analysis, Critique, and Assessment of Research on Interlocking Directorates', Annual Review of Sociology, 22, 271-98.
56. Mizruchi, M. and Brewster Sterns, L. (1994a) 'A Longitudinal Studyof Borrowing by Large American Corporations', Administrative Science Quarterly, 33, 118-40.
57. Mizruchi, M. and Brewster Sterns, L. (1994b) 'Money, Banking, and Financial Markets'. In Smelser, N. and Swedberg, R. (eds) Handbook of Economic Sociology, Princeton, NJ, Princeton University Press, pp. 313-41.
58. Ó Riain, S. (2000) 'States and Markets in An Era of Globalization', Annual Review of Sociology, 26, 187-213.
59. Pfeffer, J. and Salancik, G. R. (1978) The External Control of Organizations, New York, Harper and Row.
60. Phillips, K. (1996) Arrogant Capital: Washington, Wall Street, and the Frustration of American Politics, New York, Little, Brown, and Company.
61. Phillips, K. (2002) Wealth and Democracy: A Political History of the American Rich, New York, Broadway Books.
62. Sassen, S. (2001) The Global City: New York, London, Tokyo, Princeton, NJ, Princeton University Press.
63. Silver, B. (2003) Forces of Labor: Workers' Movements and Globalization since 1870, NewYork, Cambridge University Press.
64. Silver, B and Arrighi, G. (2001) 'Workers North and South'. In Panitch, L. and Leyes, C. (eds) Socialist Register 2001, London, Merlin Press, pp. 51-74.
65. Stinchcombe, A. (1990) 'Weak Structural Data', Contemporary Sociology 19, 380-82.
66. Strange, S. (1996) The Retreat of the State: The Diffusion of Power in the World Economy, Cambridge, Cambridge University Press.
67. Stryker, R. (1998) 'Globalization and the Welfare State', The International Journal of Sociology and Social Policy, 18, 1-49.
68. Swank, D. (2002) Global Capital, Political Institutions, and Policy Change in Developed Welfare States, Cambridge, Cambridge University Press.
69. Tickell, A. (1999) 'Unstable Futures: Controlling and Creating Risks in International Money'. In Panitch, L. and Leys, C. (eds) Socialist Register, New York, Monthly Review, pp. 248-77.
70. US Department of Commerce (2002) 'Corporate Profits: Profits Before Tax, Profits Tax Liability, and Dividends, Washington D.C., Bureau of Economic Analysis.
71. Useem, M. (1984) The Inner Circle, New York, Oxford University Press.
72. Useem, M. (1996) Investor Capitalism: How Money Managers Are Changing the Face of Corporate America, New York, Basic Books.
73. Wade, R. (1996) 'Globalization and Its Limits: Reports of the Death of the National Economy Are Greatly Exaggerated'. In Berger, S. and Dore, R. (eds) National Diversity and Global Capitalism, Ithaca, NY, Cornell University Press, pp. 60-88.
74. Williams, K. (2000) 'From Shareholder Value to Present-Day Capitalism', Economy and Society, 29, 1-12.
75. Zeitlin, M. (1974) 'Corporate Ownership and Control: The Large Corporation and the Capitalist Class', American Journal of Sociology 79, 1073-119.
76. Zeitlin, M. (1976) 'On the Class Theory of the Large Corporation: Response to Allen', American Journal of Sociology, 81, 894-904.
77. Zorn, D. (2004) 'Here a Chief, There a Chief: The Rise of the CFO', American Sociological Review, 69, 345-64.
78. Zorn, D., Dobbin, F., Dierkes, J. and Kwok, M.-S. (2004) 'Managing Investors: How Financial Markets Reshaped the American Firm'. In Knorr-Cetina, K. and Preda, A. (eds) The Sociology of Financial Markets, New York, Oxford University Press.