图书标签: 美国 经济社会学 历史 ECONOMICS 金融 美国经济 经济史 比较历史社会学
发表于2024-11-23
American Bonds pdf epub mobi txt 电子书 下载 2024
How the American government has long used financial credit programs to create economic opportunities
Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution.
Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization.
Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Sarah L. Quinn is associate professor of sociology at the University of Washington.
信用制度之“轻”与美国政治体制的碎片化特征相适应,成为历次危机中政府统合各部门的工具,但其自身风险又不断引发新的问题,将美国逐步引向对房地产次贷市场的依赖。杰克逊主义关于自由农共同体的立国方针,与19世纪被西进运动和内战不断打乱的早期信用体系,在20世纪早期共同塑造出农村土地的次级市场。这一理念随着城市化转变为以城市房屋拥有者共同体为本的思想,并深刻改变了金融机构的格局,经由新政和二战形成以房利美为核心的政府干预体制,也使得信贷成为联结社会各层面的治理术。在七十年代经济危机后财政压力加大,经济理念转向稀缺性,约翰逊政府通过修改会计准则和私有化房利美,剥离了政府债权,由此埋下金融危机的祸根。末尾拔高,指出美国是一依于信贷的发展型国家。连接金融与财政社会学。不惊喜但理清乱绪还是厉害。
评分Credit as statecraft in intervening in economy. Again, liberal market without state intervention is a myth. 但是能不能拜托不要再随意乱用developmental state了?这个词用到现在,除了指涉市场形成政府不可或缺之外,都不知道在说什么了.....
评分惊心动魄的割韭菜史…在laissez-faire的市场表象后面是off-budget spending,是credit as statecraft(cheap credit+deregulation)。政府从卖地圈钱到提供担保,反正信用也不要钱。到最后securitization达成了收益和风险的分离,但总要有人承担风险。
评分Credit as statecraft in intervening in economy. Again, liberal market without state intervention is a myth. 但是能不能拜托不要再随意乱用developmental state了?这个词用到现在,除了指涉市场形成政府不可或缺之外,都不知道在说什么了.....
评分惊心动魄的割韭菜史…在laissez-faire的市场表象后面是off-budget spending,是credit as statecraft(cheap credit+deregulation)。政府从卖地圈钱到提供担保,反正信用也不要钱。到最后securitization达成了收益和风险的分离,但总要有人承担风险。
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American Bonds pdf epub mobi txt 电子书 下载 2024