1982559
Description
Mind Map by Daniela Pirisi, updated more than 1 year ago
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Created by Daniela Pirisi
almost 10 years ago
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Ch. 2 Making finance -Social Science
- Human-produced
flows
- movements of commodities,
goods, people, ideas
- movements of commodities,
goods, people, ideas
- Bretton Wood conference: 1944 establish gobal
architecture for financial systems
- Keynes and White drew the Bretton Woods Agreement
- Blueprint for post war financial systems
- fixed but adjustable exchange rates
- fixed but adjustable exchange rates
- Allowed for states to
control stable passage of
financial flows
- Financial
architecture was
a dream or concept
of how flows
could move
between
territories with a
min. risk
- TERRITORIALLY BASED
- Financial
architecture was
a dream or concept
of how flows
could move
between
territories with a
min. risk
- Blueprint for post war financial systems
- Governments agreed to establish rules and give
stability to international financial systems
- System collapsed in early 1970s
- Shift of power from state to
financial markets: flexible
exchange rates
- NEO-LIBERALISM
- a belief in free
market, corporate
power and free
regulation
- Financial globalisation
- Unregulated capitalism
- Unregulated capitalism
- Financial globalisation
- Last 30 years
- Thatcher, Reagan champions of neolib.
- Pro liberalisation:
relationship bw.
territories and private
flow is very clear
- If country play by the rules ,
financial flows will get in,
economic long term grow and
living standards for poorer
countires
- Ending geography barriers
- If country play by the rules ,
financial flows will get in,
economic long term grow and
living standards for poorer
countires
- Anti liberalisation: Patnaik:
developing countries don't benefit
in the long term. They have to
offer tax benefits for private
investors
- Interdependency between nation states
- Interdependency between nation states
- Martin 1994: power is with private
sector org. investment banks, IMF,
pernsion funds, capitalist countries (G7,
G8 or G10).
- This is not ending
geography, it is
reconfiguring
geographies of
money, power and
dependency (Martin 94 p, 66)
- This is not ending
geography, it is
reconfiguring
geographies of
money, power and
dependency (Martin 94 p, 66)
- a belief in free
market, corporate
power and free
regulation
- FINANCIAL FLOWS
- Financial flows create a set
if interdependencies btw.
territories (p. 92)
- Financial power can reshape territories, like
poorer countries. financial resources can or
cannot be made available from the global
financial markets ( 92)
- Financial power can reshape territories, like
poorer countries. financial resources can or
cannot be made available from the global
financial markets ( 92)
- Financial flows create a set
if interdependencies btw.
territories (p. 92)
- Financial markets are sophisticated combination of
technology and human resouces located in specific
territories (p72)
- London, New York , Tokyo have 68% of world
capitalisation of stock, 60% of key global financial
markets - Concentration of power rather than dispersal,
p 75
- Financial Centres are important
for the global finance to happen,
they are the territories, buildings,
face to face contact etc. (p76)
- London and NY symbolise financial
power and strenght of private finance
(p.76)
- London and NY symbolise financial
power and strenght of private finance
(p.76)
- OFC: Offshore Financial Centres show the
complex interdependency bw. territory
and financial flows shaping new territories
(p. 83)
- OFC are considered
a problem for tax
evasion and
responsibility
(reading by Duncan
Bell Guardian p. 101)
Annotations:
- Global responsibility linked to Young's concept of responsib. in a globalised world. (Barnett et al. 2008)
- OFC are considered
a problem for tax
evasion and
responsibility
(reading by Duncan
Bell Guardian p. 101)
- Financial Centres are important
for the global finance to happen,
they are the territories, buildings,
face to face contact etc. (p76)
- Global finc. markets and flows create a potential for
controlling and having economic power over
territories of states around the world (p. 72)
- Digital technology allows
territory and flows to
interconnect and be
interdependent (p.74)
- Digital technology allows
territory and flows to
interconnect and be
interdependent (p.74)
- London, New York , Tokyo have 68% of world
capitalisation of stock, 60% of key global financial
markets - Concentration of power rather than dispersal,
p 75
- NEO-LIBERALISM
- Shift of power from state to
financial markets: flexible
exchange rates
- Keynes and White drew the Bretton Woods Agreement
- World Bank: shapes
economic policy at global
level
- IMF: central coordinator of
international monetary
system
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