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.     

Philadelphia's ``Black Mafia': Assessing and advancing current interpretations

In the history and the study of organizedcrime, the validity and reliability ofsources have been particularly problematicmatters. Governmental fact-finding bodiesare frequently cited in this research area,including the now-defunct PennsylvaniaCrime Commission. For example, studiesoccasionally reference Philadelphia's``Black Mafia,' and each of these inquiriesrelies upon the work of the PennsylvaniaCrime Commission for ``analysis' of thegroup. In this article, the Commission'sfindings are presented and then critiqued. Significant Black Mafia activitiesunder-researched by the Commission are nextanalyzed, adding context to the currentunderstanding of the group. The articlechallenges current assumptions, places thegroup's history in context, and illustratesthe utility of primary source research.     

Crime prevention through environmental design: financial hardship, the dynamics of power, and the prospects of governance

Borrowing from Foucault (Governmentality. In G. Burchell, C. Gordon, & P. Miller (Eds.), Governmentality: The Foucault effect: Studies in governmentality (pp. 87–104). Chicago: University of Chicago Press, 1991) and Foucault and Gordon (Power-knowledge: Selected interviews and other writings, 1972–1977. Hassocks: Harvester Press, 1980) and the work of governmentality scholars in general, this paper examines Crime Prevention Through Environmental Design (CPTED) as a strategic form of governance. Using qualitative data gathered from semi-structured interviews with CPTED practitioners and supporters, I argue that the putative availability of expendable capital mediates, although does not necessarily negate, a practitioner’s ability to secure the conduct of conduct through the sharing of CPTED expertise. The importance of shifting power dynamics are examined before evaluating the data vis-à-vis contemporary scholarship in the areas of governmentality and crime and criminal justice research.     

THE SUCCESS of the 1993 BUDGET RECONCILIATION BILL at REDUCING the FEDERAL BUDGET DEFICIT

This article discusses the process by which President Clinton achieved a budgetdeficit reduction package in Congress and the implications of this process. It concludes that future administrations will have more flexibility in debating whether the federal government should increase its scope or reduce taxes.     

The National Schoolmarm: No Child Left Behind and the New Educational Federalism

The 2002 No Child Left Behind (NCLB) law dramatically reshapedthe federal role in K-12 education in the United States. Theimplementation of NCLB has been difficult and contentious, butmuch of the journalistic and scholarly coverage has underestimatedthe source, strength, and stability of the political coalitionthat originally pushed for passage of the law and appears likelyto sustain federal activism in education for the long term.For much of American history, the principle of federalism exerteda powerful restraining influence on the size and character ofthe federal role in education—but that time appears tohave passed. Regardless of whether NCLB ultimately improvesschools or student achievement, the law has created a new educationalfederalism in the United States.