Making social capital produce for society: on the US financial crisis and capital credit [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Asian Journal of Business Ethics 1 (1):15-34 (2012)
The global financial crisis, triggered by the subprime mortgage crisis in the USA, raises an important issue—namely, private production without the control of private property. The credit system has concentrated increasingly large social assets into the hands of financial institutions governed by a few people. This paper argues that the use of social capital for private production has played a key role in causing the subprime mortgage crisis. The credit and banking systems have abolished the private nature of capital and have instead provided a basis for organizing and implementing social production. However, these systems have not “overcome the antithesis between the character of wealth as social and as private.” Therefore, it behooves us to explore what we can learn from the US financial crisis concerning how best to protect social interests, i.e., how to make the social capital produce for society
|Keywords||Social capital Financial crisis Capital credit Fictitious production of surplus value Business ethics|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Mikael Rostila (2011). The Facets of Social Capital. Journal for the Theory of Social Behaviour 41 (3):308-326.
Patricia M. L. Illingworth (2011). Us Before Me: Ethics and Social Capital for Global Well-Being. Palgrave Macmillan.
G. Raulet (2011). Legitimacy and Globalization. Philosophy and Social Criticism 37 (3):313-323.
Junwei Shi, Haiyan Fu & Lijun Hu (2007). Social Responsibility, Social Capital, and Corporate Competitive Advantage in Transitional China. International Corporate Responsibility Series 3:377-394.
Murray E. G. Smith (1993). Productivity, Valorization and Crisis: Socially Necessary Unproductive Labor in Contemporary Capitalism. Science and Society 57 (3):262 - 293.
John E. Roemer (2012). Ideology, Social Ethos, and the Financial Crisis. Journal of Ethics 16 (3):273-303.
Thorsten Polleit & Jonathan Mariano, 32. “Credit Default Swaps From the Viewpoint of Libertarian Property Rights and Contract Theory”.
Joanne Savage & Satoshi Kanazawa (2004). Social Capital and the Human Psyche: Why is Social Life "Capital"? Sociological Theory 22 (3):504-524.
Robbin Derry & Robert Boutilier (2008). The Emergence of Social Capital in Social Purchasing Portals in Canada. Proceedings of the International Association for Business and Society 19:143-148.
Clive R. Boddy (2011). The Corporate Psychopaths Theory of the Global Financial Crisis. Journal of Business Ethics 102 (2):255-259.
Armin Beverungen, Stephen Dunne & Casper Hoedemaekers (2013). The Financialisation of Business Ethics. Business Ethics 22 (1):102-117.
Liliana Rojas-Suarez, Financial Regulations in Developing Countries: Can They Effectively Limit the Impact of Capital Account Volatility?
Wilfred Dolfsma, Rene van der Eijk & Albert Jolink (2009). On a Source of Social Capital: Gift Exchange. [REVIEW] Journal of Business Ethics 89 (3):315 - 329.
Added to index2011-06-20
Total downloads13 ( #127,346 of 1,101,940 )
Recent downloads (6 months)5 ( #68,246 of 1,101,940 )
How can I increase my downloads?