Member Publication: Normalized Financial Wrongdoing

Please check out the recent publication by OOW member Harland Prechel:

Prechel, Harland. 2020. Normalized Financial Wrongdoing: How Re-Regulating Markets Created Risks and Fostered Inequality. Stanford: Stanford University Press.

Here is a short description of the book:

In Normalized Financial Wrongdoing, Harland Prechel examines how social structural arrangements that extended corporate property rights and increased managerial control opened the door for misconduct that contributed to the 2008 financial crisis and historically high levels of inequality. Beginning his analysis with the financialization of the home-mortgage market in the 1930s, Prechel shows how pervasive these arrangements had become by the end of the century, when the banks created political coalition with other economic sectors and developed strategies to participate in financial markets. The book examines political and legal landscapes in which corporations are embedded to answer two questions: First, how did banks and financial firms transition from being providers of capital to financial market actors in their own right? Second, how did new organizational structures cause market participants to engage in high-risk activities?

You can find more about the book and buy it on the Stanford University Press website.

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