Review of Cornelia Woll, ‘The Power of Inaction‘, [PDF], American Journal of Sociology, vol. 121, no. 1 (July, 2015): 313-15.
The great financial crisis of 2007–9 has given rise to a small industry of academic studies, some directed at the wider systemic tendencies of capital, class and crisis, others at narrower regulatory or managerial issues. Cornelia Woll’s ‘The Power of Inaction,’ is a work of the latter kind. It is a study of the state-finance nexus viewed through the lens of paired comparisons of bank bailouts in six countries: (1) the United States and the United Kingdom (the Anglo-American model), (2) Germany and France (large, regulated Eurozone economies), and (3) Denmark and Ireland (smaller European economies).
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