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The Political Economy of International Capital MobilityIntroduction

The Political Economy of International Capital Mobility: Introduction [International capital mobility is today a concern that breeds broader social uncertainty because of unprecedented degrees of financial socialisation. Financial markets now attract a greater volume of savings than at any previous time in their history. Existing living standards are therefore increasingly dependent upon the market environment continuing to function in the manner prescribed by economics textbooks, as are future consumption possibilities and access to welfare. Given this, Adam Harmes (2001) has pointed to the birth of a ‘mass investment culture’. The result of such developments is that the significance of collapses in the pricing structure of financial markets now penetrates ever more deeply into society. The failure to protect society from the consequences of financial crisis puts savings in danger and threatens the expectation that every generation will experience a higher degree of material comfort than its predecessor.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

The Political Economy of International Capital MobilityIntroduction

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Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2007
ISBN
978-1-349-27964-7
Pages
1 –12
DOI
10.1057/9780230592667_1
Publisher site
See Chapter on Publisher Site

Abstract

[International capital mobility is today a concern that breeds broader social uncertainty because of unprecedented degrees of financial socialisation. Financial markets now attract a greater volume of savings than at any previous time in their history. Existing living standards are therefore increasingly dependent upon the market environment continuing to function in the manner prescribed by economics textbooks, as are future consumption possibilities and access to welfare. Given this, Adam Harmes (2001) has pointed to the birth of a ‘mass investment culture’. The result of such developments is that the significance of collapses in the pricing structure of financial markets now penetrates ever more deeply into society. The failure to protect society from the consequences of financial crisis puts savings in danger and threatens the expectation that every generation will experience a higher degree of material comfort than its predecessor.]

Published: Sep 29, 2015

Keywords: Government Bond; Capital Mobility; Functional Mobility; Price Structure; York Stock Exchange

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