The Financial Crisis: A Retrospective

Government efforts to manage the financial crisis and to promote economic recovery have been extensive over the past three years. Hundreds of billions of dollars have been distributed—and much of it now repaid—from the Troubled Asset Relief Program. The Federal Reserve holds more than $2 trillion in mortgage‐backed securities, collateralized loans to financial institutions, and other assets and liabilities to maintain liquidity in the financial markets. The American Recovery and Reinvestment Act injected more than $600 billion into the economy through tax breaks, loans, contracts, grants, and entitlements. Congress also passed the Dodd‐Frank Wall Street Reform and Consumer Protection Act in 2010. Yet economic recovery remains flat. The author examines the reform effort to date, key points of its primary focus, and the politics of implementing the reform as a factor in eventual economic recovery. One component of the reform, the creation of a Consumer Financial Protection Bureau, holds the greatest potential for changing the way consumers participate in the financial markets, but also has drawn the greatest debate and opposition. While regulatory reform alone will not revive the economy, a newly conceived and broadly participatory Consumer Financial Protection Bureau could simplify and streamline the complex linkages that contribute to the supply of credit.     

新自由主义与阿根廷金融危机

本文重点分析了新自由主义的实质以及它对阿根廷经济所造成的危害,提出了必须从本国国情出发合理利用国家的经济职能,而不能完全听任市场和外资去主宰本国经济的中肯建议.     

金融危机条件下中小企业如何进行成本控制

中小企业的大量存在是一种在各个地区和不同发展阶段曾遍存在的现象,是经济发展的内在要求和必然结果。而成本的管理与控制始终是企业获得利润和发展的永恒话题。中小企业如何通过成本控制来应对金融危机,抓住机遇,化危为机,从危机中突围出来,是其必须面对的重大课题。     

应对危机后时代新挑战的一点思考——学习党的十七届四中全会有关我国当前经济形势与任务的体会

本文依据党的十七届四中全会有关我国当前经济形势与任务的公报精神，对危机后时代我国经济面临的新挑战与相应的对策措施作了较为系统的分析。论文首先从国内、国际经济形势两个方面，分析了危机后时代我国保持经济稳定地较快增长所面临一系列新的困难和挑战；然后对全会提出应对危机后时代新挑战的“一个继续”、“六个更加”对策措施，从必然性、远见性以及主要着力点等方面作了较为系统的论证与分析。     

The Financial Crisis Hits Home: Foreclosures and Asset Exhaustion in Boston

This article reviews the depletion of financial assets that families in foreclosure experienced in Boston, Massachusetts. Drawing on 37 interviews with predominantly families of color in foreclosure around the City of Boston between 2007 and 2008, this article suggests that a critical process on the path to foreclosure is asset depletion that leads to asset exhaustion. Asset depletion is the process of using up savings and other liquid and nonliquid investment vehicles to cover day-to-day expenses when income is not enough to do so. In the case of foreclosure, asset depletion to the point of asset exhaustion is motivated by the significance of the home for the family. Even when a family does not lose its home to foreclosure, it loses critical stabilizing financial assets, leaving the family vulnerable to further economic shocks and less likely to achieve upward social mobility. This article explores the process of asset depletion that leads to asset exhaustion in foreclosure and the motivations that drive a family to deplete its assets to the point of exhaustion in foreclosure, providing key insights for policymakers considering the implications of foreclosure for affected families' economic security and social mobility.     

浅谈工会在金融危机中的独特作用

从当前的经济形势看，美国的次贷危机已经演变成了全球性的金融危机。应对危机，迎接挑战，不仅是党委和政府的责任，也是工会组织义不容辞的任务。金融危机中，工会组织当如何面对，并发挥自身的特殊作用，本文从以下几点试析之。     

国际金融危机彰显社会主义制度的科学性与优越性

这次国际金融危机中发达国家经济普遍遭受重创,其纷纷采取带有社会主义色彩的干预措施加以拯救.我国和西方发达资本主义国家在金融危机中的表现分别从正反两个方面,证明了社会主义制度的科学性和优越性.一定比重的公有制经济、国家对经济的宏观调控这两个社会主义最基本的特征,是现代社会生产力发展的基本要求.     

全球金融危机下的中国经济走势分析

自美国次贷危机爆发以来,美国经济放缓,全球经济也受到波及.随着像雷曼兄弟等华尔街几大投行的相继破产,全球股市持续震荡下挫,次贷危机愈演愈烈,并演化成全球金融危机.面对当前纷繁复杂的国内外经济形势,分析了次贷危机及其根源、连锁反应及各国的应对策略,在此基础上,着重分析了本次金融危机对中国经济的影响,并提出了促进中国经济发展的对策.     

Stories and Interests in Finance: Agendas of Governance before and after the Financial Crisis

The financial crisis can be understood in many different terms. In this article, it is analyzed in terms of the unfolding of a series of elite narratives that shaped the agenda of regulation before the crisis, that were damaged by the crisis, and that were then reframed and recounted again in the wake of the crisis. The form of these stories differs in subtle ways by jurisdiction, and thus the fate of postcrisis regulatory practice likewise differs.     

Ideas and Coordination in Policymaking: The Financial Crisis of 2007–2009

Policy change occurs because coalitions of actors are able to take advantage of political conditions to translate their strong beliefs about policy into ideas, which are turned into policy. A coalition's ability to define a problem helps to keep policies in place, but it can also cause coalitions to develop blind spots. For example, policy subsystem actors will often neglect the need for coordination between governmental actors. We examine the financial crisis of 2007–2009 to show how entrenched policy ideas can cause subsystem actors to overlook the need for policy coordination. We first analyze the prevalent idea that policymakers should aim to keep inflation low and stable while employing light touch regulation to financial markets. We then demonstrate how this philosophy led to a lack of coordination between monetary and regulatory policy in the subprime mortgage market. We conclude with thoughts about the need for coordination in future economic policy.     

金融危机与"盎格鲁-撒克逊模式"的衰落

由美国次贷危机引发的金融危机,终止了20世纪80年代以来"盎格鲁-撒克逊模式"不断扩张的步伐.打破了其试图一统天下的幻想,使整个资本主义经济陷入了衰退的泥潭中."盎格鲁-撒克逊模式"自身的缺陷以及在该理念下采取的一系列政策举措,是造成今天"百年一遇的金融危机"的诱因.而危机本身标志着"盎格鲁-撒克逊模式"已经陷入难以自拔的困境.     

理性认识金融危机下我国中间阶层的作用

在全球性金融危机中,中国承受着巨大压力,一部分人认为,作为社会中流砥柱的中间阶层能够以其强劲的消费拉动中国经济,从而维护社会的稳定与发展。文章认为,在金融危机下,这不是一种理性的对待中间阶的态度,并从经济、政治和社会责任感三个角度,分析了在当前环境下这种观点是值得商榷的,随后,从不能正视中间阶层的现状,忽略中国社会发展的实情以及对中间阶层理解的偏差性等方面分析了持这种观点的原因。     

Disagreeing to Agree: Financial Crisis Management within the 'Logic of No Alternative'

The article argues that amid a cacophony of analyses of the causes of the current financial crisis, those daring to consider its implications and outcomes are decidedly cautious. Fundamentally, crisis managers appear intent on treating this as a minor glitch in an otherwise functioning market. This is a controversial claim. Nonetheless it is the legacy of the perception that neoliberalism is 'the only alternative'; it emphasises the need, however, for truly alternative voices in the ad hoc settlements and negotiations. The article argues that, through the lenses of historical materialism, this crisis is the inevitable result of the prolonged period of credit expansion and financial market reform in recent decades. With this in mind it suggests that the economists and state managers who established these conditions are themselves both unlikely to and incapable of reversing them.