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.     

Intellectual Property Theft and Organized Crime: The Case of Film Piracy

This article seeks to understand the processes by which the crime of intellectual property theft is organized, with specific attention given to film piracy. It seeks to identify the structure and function of the criminal enterprises engaged in this crime and assess the degree to which organized crime is involved with film piracy. An analysis of available sources reveals that general conclusions about the relationship of organized crime to film piracy results from a lack of useable and verifiable information in media, government, and industry sources. In the absence of independent, substantive analysis, anecdote and industry interests currently drive public policies and legal developments created to address the role of organized crime in film piracy. In the United States and across the globe, seizures, criminal indictments, civil actions, and public awareness are up considerably. Whether or not these advances can be maintained in the face of technological advances, the evolution of industry economic structures, and consumer indifference to the stigma of intellectual property theft and concern at industry response to such theft remains to be seen. Specific recommendations for future research are offered. The author would like to thank the International Center of the National Institute of Justice for soliciting funding this research through a grant, Intellectual Property and Organized Crime. He also Thanks Jay S. Albanese and his the anonymous reviewers of this work for their helpful comments and criticisms. This article only reflects the findings of the author, not the National Institute of Justice, Dr. Albanese or the reviewers.     

Public Management 1996: Once More Unto the Breach

Reviewing public administration in Australia was once akin to watching glaciers — you knew there was movement and something was happening beneath the surface, but detection required patient observation over a long period of time.     

Measuring the deterrent effect of enforcement operations on drug smuggling, 1991–1999

This study examines a crucial question: What kind of effect do interdiction and other drug enforcement activities have on drug smuggling? Do they actually deter smuggling, or is their effect more one of disruption and displacement?...     

Law enforcement information sharing: A Florida case study

Many attempts have been made over the last several decades to improve communication among law enforcement agencies. This article is a case study of a “low-level” data sharing project in Florida that could serve as a national model. The Florida Law Enforcement Data Sharing Consortium is a partnership between the University of Central Florida and more than one hundred law enforcement agencies. It offers an inexpensive, yet technically advanced alternative to the proprietary data sharing model. Its distributed architecture was endorsed by the Markle Foundation, the 9/11 Commission, and the 2004 National Security Act. Civil liberties concerns raised by this and other types of data sharing projects are discussed.