The politics of mortgage credit expansion in the small coordinated market economies

Abstract

Recent contributions to the comparative political economy literature claim that liberal market economies are vulnerable to asset booms and busts because of financial deregulation, shrinking welfare states and a political ideology emphasising financial self-sufficiency. This article examines the rapid expansion of mortgage lending in three coordinated market economies (CMEs): Denmark, Sweden and the Netherlands. This expansion is puzzling given that all three countries are CMEs with generous welfare states. Yet the pattern of mortgage lending resembles the Anglo-Saxon or liberal market economies (LMEs) more than other CMEs. The article argues that mortgage bubbles in the small CMEs emerged as the unintended outcome of pairing neoliberal programmes to expand home ownership with collectivist housing institutions. This resulted in supply restrictions and rising property values which saddled households with extraordinarily high mortgage debts. In short, mortgage credit bubbles are not unique to Anglo-liberal welfare states and may have different origins.     

Bargaining for justice: A means to resolve competing justice claims

In many types of social situations, individuals defend their claims to a portion of the rewards by arguing that they are just. Although a great deal of research demonstrates that individuals differ in their distribution preferences and thus their beliefs about what is fair, the literature curiously omits consideration of the consequences of these differences, especially the conflict they may engender. This paper first reviews the few attempts to address such justice conflict. The limitations of these approaches suggest concerns to be addressed in an alternative framework. The paper presents a theoretical discussion of this alternative that integrates assumptions about distribution preferences, justice beliefs, conditions fostering the emergence of justice conflict, and elements of negotiation processes as a basic framework for predictions about the bargaining strategies individuals may employ to resolve competing justice claims.     

Supporting Asylum Seekers and Refugees in Glasgow: The Role of Multi-agency Networks

The implementation of a dispersal policy in Britain has broughtasylum seekers to regions of the country which previously hadlittle experience of providing services for this group. Around10,000 asylum seekers have been resettled in the city of Glasgowsince 2000 as a result of the policy. Multi-agency networkshave been established in Glasgow as a medium for facilitatingco-operation across the voluntary and statutory sectors forthe provision of locally-based support services, while alsofacilitating community development. This paper explores theexperiences of these networks since their inception. While highlightingthe continuing importance of the voluntary sector in supportingasylum seekers and refugees, it raises concerns over the reactiveway in which services have been provided, where responsibilityhas fallen on voluntary and community organizations to fillgaps in statutory service provision. It further examines theimplications for social cohesion of housing-led resettlement,which has largely been in areas suffering from social deprivation.The findings highlight the frustrations of service providersworking within a disjointed policy framework, characterizedby contradictions between Scottish and UK policy goals.     

Crime Victimization: Assessing Differences Between Violent and Nonviolent Experiences

Experiencing a criminal victimization is among one of the most stressful human experiences. A cross-sectional study of victims of violent crime and victims of nonviolent crime suggests that there are statistically significant differences in experiences in the initial aftermath of the crime event and a few common effects. This article describes the common effects that are associated with criminal victimization in the context of intense distress and discusses the theoretical implications of well-being in the coping process. One hundred seventy-five victims of violent or nonviolent crime were interviewed. Implications for social work practice and theory and future research are delineated.     

PROFILE: CHILD CUSTODY MEDIATION SERVICES IN CALIFORNIA SUPERIOR COURTS

California is now in its 11th year of mandatory child custody mediation, with a current yearly case volume statewide estimated at 65,494. This article profiles the variations in programs and mediation styles in 56 of the state's 58 Superior Courts. Two research studies provide the basis for the information on program structures, case activity, procedures, agreement formats, recommendations, facilities, security, and fees.     

The referral decision scale with mentally disordered inmates

Correctional facilities are increasingly burdened with mentally disordered offenders and are faced with the formidable task of effectively screening inmates for major mental disorders and suicide potential. Teplin and Swartz (1989) developed the Referral Decision Scale (RDS) as a rapid screen for schizophrenia and major mood disorders in jail populations. However, more recent research by Hart, Roesch, Corrado, and Cox (1993) has called into question the effectiveness of the RDS. In this study, we examined the convergent and discriminant validity of the RDS with the Schedule of Affective Disorders and Schizophrenia—Change Version (SADS-C) and the Personality Assessment Inventory (PAI) on a sample of 108 mentally disordered inmates. The RDS provided moderate evidence of convergent validity but failed to demonstrate acceptable discriminant validity, because of high intercorrelations on RDS subscales (heterotrait-monomethod coefficients). In comparison, the SADS-C yielded similar evidence of convergent validity and excellent discriminant validity.The authors would like to thank the Research Opportunities Program, University of North Texas for its grant support and Captain James Moore for his active cooperation.Tarrant County Mental Health and Mental Retardation Services.     

Project USA: American competitiveness and what must be done to restore it

The United States today faces a loss of influence as a world power, a reduction in American independence as a policymaker, and a decline in the standard of living on which Americans have come to depend. History teaches that nations weaker and less productive than the United States can rise to become economic powerhouses and rapidly increase their standards of living. History also teaches that nations failing to recognize their fundamental problems will inevitably decline. American politicians must face what is abundantly clear: the United States is losing ground and must act quickly to reverse its course. This White Paper outlines what must be done. Information about the nation's current status must be analyzed and communicated. Incentives to improve the level of competence in government must be provided and maintained. The emphasis of government policy must be changed to reflect broad economic and technological interests as opposed to special interests. Savings must be encouraged and increased. Infrastructure must be improved Tax laws must be modified to help bring these changes about. Economic and technological issues must be elevated to the importance they require. American thinking must reflect the new realities: that the age of leadership through military power is over, that the requirements for success in the world of the 1990s and beyond require a sound and growing economy that is internationally competitive. The US can accomplish these goals only through foundation-shaking, comprehensive, fundamental changealong the lines we propose herein.This paper is the executive summary (with minor editing modifications) of a white paper that is available from Cornell University's Johnson Graduate School of Management.     

Consequences and dilemmas in therapeutic relationships with families resulting from mandatory reporting legislation

Mandatory reporting legislation has been adopted in every state to insure the protection of children from maltreatment. These statutes have become a significant factor in the lives of mental health professionals who work with children and families. Thirty psychotherapists who had made a recent report of child maltreatment on a client in treatment were interviewed about their experiences with reporting and the consequences of reporting for therapeutic relationships. Several potentially problematic consequences and dilemmas were identified by the therapists, including immediate and long-term effects on the therapeutic alliance and course of therapy, and conflicts of interest in working with children and families.