Reconceptualizing financial innovation: frame,conjuncture and bricolage

Abstract

This article argues for a reconceptualization of financial innovation which, as culprit and victim of the current crisis, is now damned by those who once praised it. But what is financial innovation? The dominant answers from mainstream finance and social studies of finance share variations on a rationalistic view whereby financial innovation is about improving markets or at least extending the sphere of rational calculability. Because improvisation is more important than the dominant perspectives can admit, this article proposes a new concept of financial innovation whose three main elements – frame, conjuncture and bricolage – are indicated by the title of this article. The importance of this problem shift is that it highlights the inherent fragility of this type of intermediary-led financial innovation where things will often miscarry and highlights the need for a more radical rethinking about policy responses to the financial crisis that began in 2007.     

Labour protest and industrial peace: Russian steelworkers’ encounters with economic reforms and unravelling social protections

Abstract

This paper is about knowledge limits and the financial crisis. It begins by examining various existing accounts of crisis which disagree about the causes, but share the belief that the crisis represents a problem of socio-technical malfunction which requires some kind of technocratic fix: the three variants on this explanation are the crisis as accident, conspiracy or calculative failure. This paper proposes an alternative explanation which frames the crisis differently as an elite political debacle. Political and technocratic elites were hubristically detached from the process of financial innovation as it took the form of ‘bricolage’, which put finance beyond technical control or management. The paper raises fundamental questions about the politicized role of technocrats after the 1980s and emphasizes the need to bring private finance and its public regulators under democratic political control whose technical precondition is a dramatic simplification of finance.     

For Peace and Stability

正Xinjiang’s vocational education and training centers are in the interests of allLastingsocialstabilityinXinjiang Uygur Autonomous Region in northwestChinaisrelatedtoreform,developmentandstabilityofChina,its reunifi cation, as well as national unity, security and rejuvenation.Since the 18th National Congress of the Communist Party of China (CPC) in2012, the CPC Central Committee has     

Methyl alcohol poisoning in Trabzon (Turkey)

The aim of this retrospective study was to examine methyl alcohol intoxications in Trabzon (Turkey) and to determine any relations between the laboratory results and histopathologic changes. A total of 4492 forensic autopsies were performed from 1998 to 2008. Thirteen of the cases (0.3%) were because of methanol poisoning, and all were men. Their ages ranged from 25 to 62 years. The blood methanol concentrations ranged widely, from 15 to 482 mg/dL. In six cases, poisoning was because of consumption of the alcoholic beverage "Raki," while in five cases, poisoning was because of the ingestion of cologne. The products consumed were unknown in the other two cases because of insufficient history and data records. Mortality because of methanol poisoning may be prevented/decreased with the implementation of some precautions, such as public education regarding the harms of methyl alcohol, routine monitoring of the vendors that sell alcoholic beverages and cologne, and appropriate legal retribution for the illegal production of methanol.     

Provenance Establishment of Stingless Bee Honey Using Multi‐element Analysis in Combination with Chemometrics Techniques

As consumption of stingless bee honey has been gaining popularity in many countries including Malaysia, ability to identify accurately its geographical origin proves pertinent for investigating fraudulent activities for consumer protection. Because a chemical signature can be location‐specific, multi‐element distribution patterns may prove useful for provenancing such product. Using the inductively coupled‐plasma optical emission spectrometer as well as principal component analysis (PCA) and linear discriminant analysis (LDA), the distributions of multi‐elements in stingless bee honey collected at four different geographical locations (North, West, East, and South) in Johor, Malaysia, were investigated. While cross‐validation using PCA demonstrated 87.0% correct classification rate, the same was improved (96.2%) with the use of LDA, indicating that discrimination was possible for the different geographical regions. Therefore, utilization of multi‐element analysis coupled with chemometrics techniques for assigning the provenance of stingless bee honeys for forensic applications is supported.     

Lactate dehydrogenase isozymes in vaginal swab extracts: A problem for the identification of menstrual blood

Extracts of vaginal swabs free of both blood and semen, collected from three donors throughout several menstrual cycles, have been examined by cellulose acetate membrane electrophoresis for the presence of lactate dehydrogenase (LDH) isozymes. LDH activity, predominantly in the form of LDH-5 was detected in some extracts. Mixtures of these particular extracts with peripheral blood gave LDH patterns similar to those observed for menstrual blood. The results indicate that LDH isozyme patterns cannot be used to differentiate between stains of menstrual blood and bloodstains that have become mixed or contaminated with vaginal secretions.