Dr Jack Copley jack.copley@durham.ac.uk
Assistant Professor
Financial Deregulation and the Role of Statecraft: Lessons from Britain’s 1971 Competition and Credit Control Measures
Copley, Jack
Authors
Abstract
Within the financialisation literature, a number of approaches identify the coexistence of financial expansion and productive stagnation. Yet there is no consensus on which direction causality operates between these two phenomena. This impasse has been widened by the lack of attention paid to the role of statecraft strategies in mediating possible causal mechanisms. This article contributes to rectifying this shortcoming by focusing on the governance advantages granted to states through financial deregulation. By presenting archival evidence on Britain’s 1971 Competition and Credit Control deregulation, this article lends support to financialisation accounts that argue that weaknesses in the productive economy spurred financial expansion, yet it also indicates that the state’s desire for depoliticised forms of governance played a crucial role in mediating this relationship. This further suggests that International Political Economy should focus on the strategic manner in which states relate to markets.
Citation
Copley, J. (2017). Financial Deregulation and the Role of Statecraft: Lessons from Britain’s 1971 Competition and Credit Control Measures. New Political Economy, 22(6), 692-708. https://doi.org/10.1080/13563467.2017.1311849
Journal Article Type | Article |
---|---|
Acceptance Date | Mar 22, 2017 |
Online Publication Date | Apr 10, 2017 |
Publication Date | 2017 |
Deposit Date | Sep 6, 2021 |
Journal | New Political Economy |
Print ISSN | 1356-3467 |
Electronic ISSN | 1469-9923 |
Publisher | Taylor and Francis Group |
Volume | 22 |
Issue | 6 |
Pages | 692-708 |
DOI | https://doi.org/10.1080/13563467.2017.1311849 |
Public URL | https://durham-repository.worktribe.com/output/1265343 |
You might also like
Capitalism in Decline: Automation in a Stagnant Economy
(-0001)
Other
The Political Roots of Capital Mobility
(-0001)
Other
Neoliberalism's Many Deaths and Strange Non-Deaths
(-0001)
Other
Productive and unproductive labour and social form: Putting class struggle in its place
(2016)
Journal Article
Downloadable Citations
About Durham Research Online (DRO)
Administrator e-mail: dro.admin@durham.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2024
Advanced Search