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Capitalist Crisis

THE UNIVERSITY OF FINANCE

Business and management theorists have so far responded to the financial crisis by centring on the notion of finance as an object of study. The inference here has been that the responsibility for the crisis lies with the flaws of individual managers, and, consequentially, that a sprinkling of Business Ethics (Wayne, 2009) and/or Critique (Currie et al, 2010) to the MBA curriculum is a suitable panacea for the recent excesses. From this we get the characterisation of the crisis as a product of individual misbehaviours in the financial sector: a regression onto the already decisively discredited “bad apple” thesis (e.g. Bakan, 2005). A different but related set of responses has sought to de-emphasize this traditional role of the business school as handmaiden to capitalism and thereby widen the curriculum to include politics, philosophy and cultural studies (e.g. HBR, 2009; Schmidt, 2008).

The questions raised in this special issue attempt to push the debate within the university in general, and the business school in particular, on from this concern with finance as an object of study and on towards a concern with finance as a condition of study. This focus upon the notion of finance as condition of study considers the various ways in which students and teachers alike have long been induced to view study through a purely financial logic: as surplus value without underlying production, as “knowledge transfer” without work. Within this special issue, our contributors therefore consider not so much how the curriculum might be changed in light of the crisis. Instead, they consider how the very study of finance as a condition of study might itself form the basis for a collective resistance to the ongoing financial conditioning of study.

http://www.ephemeraweb.org

Ephemera

Volume 9, Number 4 (November 2009)

Editorial

Armin Beverungen, Stephen Dunne and Casper Hoedemaekers: The University of Finance

Articles:

Morgan Adamson: The Human Capital Strategy

Dick Forslund and Thomas Bay: The Eve of Critical Finance Studies

Ishani Chandrasekara: Why is Finance Critical? A dialogue with a women’s community in Sri Lanka

Talk:
Stefano Harney: Extreme Neo-liberalism: An introduction

Roundtable:

Dick Bryan and Michael Rafferty: Sydney Forum on the financial crisis: an introduction

John Roberts: Faith in the numbers

Randy Martin: Whose crisis is that? Thinking finance otherwise

Martijn Konings: The ups and downs of a liberal conciousness, or, why Paul Krugman should learn to tarry with the negative

Dick Bryan and Michael Rafferty: Homemade Financial Crisis

Melinda Cooper and Angela Mitropoulos: The Household Frontier

Fiona Allon: The Futility of Extrapolation: Reflections on crisis, continuity and culture in the ‘Great Recession’

Reviews:

Elizabeth Johnson and Eli Meyerhoff: Toward a global autonomous university

Francesca Bria: A crisis of finance

Posted here by Glenn Rikowski

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High Finance

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