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Which clippings match 'Global Financial System' keyword pg.1 of 1
03 NOVEMBER 2010

Manuel Castells: Network Theories of Power

Manuel Castells (20 February 2010) 'Network Theories of Power', University of Southern California

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TAGS

2010Bruno Latourconnectivity • GFS • global financial systemglobal network societyICTinteractiveinterconnectedManuel Castellsnetwork society • network theories of power • pervasivepowersocial interactionsocial structure • social-technical organisation • societysociologyTED Talkstransformation • USC • USC Annenberg • values

CONTRIBUTOR

Simon Perkins
15 JUNE 2009

Phillip Blond: Rise of the red Tories

"We live in a time of crisis. In such times humans retreat to safety, and build bulwarks against the future. The financial emergency is having this effect on Britain's governing class. Labour has withdrawn to the safety of the sheltering state, and the comforts of its first income tax rise since the mid–1970s. Meanwhile, the Conservatives appear to be proposing a repeat of Thatcherite austerity in the face of economic catastrophe. But this crisis is more than an ordinary recession. It represents a disintegration of the idea of the 'market state' and makes obsolete the political consensus of the last 30 years. A fresh analysis of the ruling ideological orthodoxy is required.
...
On a deeper level, the present moment is a challenge to conservatism itself. The Conservatives are still viewed as the party of the free market, an idea that has collapsed into monopoly finance, big business and deregulated global capitalism. Tory social thinking has genuinely evolved, but the party's economic thinking is still poised between repetition and renewal. As late as August 2008 David Cameron said: 'I'm going to be as radical a social reformer as Margaret Thatcher was an economic reformer,' and that 'radical social reform is what this country needs right now.' He is right about society, but against the backdrop of collapsing markets and without a macro–economic alternative, Thatcherite economics has been wrongfooted by events."
(Phillip Blond, Prospect Magazine February 2009 issue 155)

TAGS

2009austeritycapitalismchange • civil association • conservatismConservativescrisisDavid Camerondecentralisation • financial emergency • free market economyglobal capitalismglobal financial crisisglobal financial systemLabour • late-modern • Margaret Thatcher • market state • mutualism • neoliberalism • Phillip Blond • politicspost-traditionalreformsocial change • social reform • stateTorytransformationUK • voluntary association

CONTRIBUTOR

Simon Perkins
08 MARCH 2009

The Crisis of Credit Visualized

"The Crisis of Credit Visualized distils the economic crisis into a short and simple story by giving it form. It is also argues that designers have the ability to see a complex situation, then turn around and communicate it to others. By giving graphic form to the credit crisis, it becomes comprehensible. Not only do economic activities take shape, but new relationships can emerge between these shapes.

My interest in the project stems from 3 primary sources: my simple desire to understand it, diagramming work I conducted at UNICEF, and my earlier motion design work. Initially, I researched printed news and spoke with several friends working in investment banks. However, I began turning more and more to audio and video sources for information. These sources contained an editor's narrative which greatly enhanced my understanding, often by putting the crisis in some sort of larger context. But I still could not find a holistic or concise explanation.

In the summer of 2008 I was awarded a fellowship to join The Innovation Team at UNICEF in New York. There, while designing global storytelling and media platforms, I began creating system diagrams. The diagrams served to make crazy ideas understandable, and served as a tangible object when presenting these systems which hadn't yet be built. I felt that I was onto something when the technical project manager informed me that the diagrams had helped him significantly with the system architecture.

After returning from New York, I realized that the earlier motion designs (see Harper's Index in Motion & Tangible Interactions) I had done were in a sense glorified, moving diagrams. Moving mediums allow for richer narratives. But what really interested me was when I gave form to an idea in the diagrams, I was able to draw connections on an entirely new level – and communicate more effectively."
(Jonathan Jarvis, 2009)

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CONTRIBUTOR

Simon Perkins
25 FEBRUARY 2009

Kevin Rudd: The Global Financial Crisis

"Not for the first time in history, the international challenge for social democrats is to save capitalism from itself: to recognise the great strengths of open, competitive markets while rejecting the extreme capitalism and unrestrained greed that have perverted so much of the global financial system in recent times. It fell to Franklin Delano Roosevelt to rebuild American capitalism after the Depression. It fell also to the American Democrats, strongly influenced by John Maynard Keynes, to rebuild postwar domestic demand, to engineer the Marshall Plan to rebuild Europe and to set in place the Bretton Woods system to govern international economic engagement. And so it now falls to President Obama's administration – and to those who will provide international support for his leadership – to support a global financial system that properly balances private incentive with public responsibility in response to the grave challenges presented by the current crisis. The common thread uniting all three of these episodes is a reliance on the agency of the state to reconstitute properly regulated markets and to rebuild domestic and global demand.

The second challenge for social democrats is not to throw the baby out with the bathwater. As the global financial crisis unfolds and the hard impact on jobs is felt by families across the world, the pressure will be great to retreat to some model of an all–providing state and to abandon altogether the cause of open, competitive markets both at home and abroad. Protectionism has already begun to make itself felt, albeit in softer and more subtle forms than the crudity of the Smoot–Hawley Tariff Act of 1930. Soft or hard, protectionism is a sure–fire way of turning recession into depression, as it exacerbates the collapse in global demand. The intellectual challenge for social democrats is not just to repudiate the neo–liberal extremism that has landed us in this mess, but to advance the case that the social–democratic state offers the best guarantee of preserving the productive capacity of properly regulated competitive markets, while ensuring that government is the regulator, that government is the funder or provider of public goods and that government offsets the inevitable inequalities of the market with a commitment to fairness for all. Social democracy's continuing philosophical claim to political legitimacy is its capacity to balance the private and the public, profit and wages, the market and the state. That philosophy once again speaks with clarity and cogency to the challenges of our time."
(Kevin Rudd, February 2009, No. 42, The Monthly)

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TAGS

AustraliaAustralian Labor PartyBarack Obama • Bretton Woods • capitalismcrisisdemocracydepressioneconomic recessionFranklin D. Rooseveltglobal financial crisisglobal financial systemGovernmentJohn Maynard KeynesKevin Rudd • market compensation • Marshall Plan • neo-liberal extremism • political legitimacyPrime Ministerprotectionism • Smoot-Hawley Tariff Act • social democrats • state

CONTRIBUTOR

Simon Perkins
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