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- DescriptionThis volume presents the first thorough sociologically-informed legal analysis of the financial crisis which unfolded in 2008. It combines a multitude of theoretically informed analyses of the causes, dynamics and reactions to the crisis and contextualises these within the general structural transformations characterising contemporary society. It furthermore explores the constitutional implications of the crisis and suggests concrete changes to the constitutional set-up of contemporary society. Although the question of individual responsibility is of crucial importance, the central idea animating the volume is that the crisis cant be reduced to a mere failure of risk perception and management for which individual and collective actors within and outside of financial organisations are responsible. The 2008 crisis should rather be understood as a symptom of far deeper structural transformations. For example contemporary society is characterised by massive accelerations in the speed with which societal processes are reproduced as well as radical expansions in the level of globalisation. These transformations have, however, been asymmetrical in nature insofar as the ecomic system has outpaced its legal and political counterparts. The future capability of legal and political systems to influence ecomic reproduction processes is therefore conditioned by equally radical transformations of their respective operational forms and self-understanding. Potentially the 2008 crisis, therefore, has far-reaching constitutional implications.
- Author BiographyPoul F Kjaer is Alexander von Humboldt Fellow at the Cluster of Excellence: Formation of Normative Orders, Goethe University Frankfurt am Main. Gunther Teubner is Professor of Law and Principal Investigator at the Cluster of Excellence: Formation of Normative Orders, Goethe University Frankfurt am Main and Distinguished Professor at the International University College, Torino. Alberto Febbrajo is Professor of Sociology and Anthropology of Law at the University of Macerata, Italy.
- PublisherBloomsbury Publishing PLC
- Date of Publication27/07/2011
- SubjectLaw: General & Reference
- Series TitleInternational Studies in the Theory of Private Law
- Series Part/Volume Number9
- Place of PublicationOxford
- Country of PublicationUnited Kingdom
- First Published2011
- ImprintHart Publishing
- Content Noteblack & white illustrations
- Weight811 g
- Width156 mm
- Height234 mm
- Spine25 mm
- Edited byAlberto Febbrajo,Gunther Teubner,Poul F. Kjaer,Professor Alberto Febbrajo
- Format DetailsWith printed dust jacket
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