{"product_id":"the-ascendancy-of-finance-hardback-9781509509294","title":"The Ascendancy of Finance (Hardback) 9781509509294","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe Ascendancy of Finance\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cfont size=\"4\"\u003eJoseph Vogl (Author), Simon Garnett (Translated by)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781509509294, Polity Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 12 May 2017\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e200 pages\u003cbr\u003e21.6 x 14.2 x 2.3 cm, 0.386 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"Who is sovereign in the modern state? working like a detective to trace the historical roots of the current financial and budgetary crisis and the interplay between markets and government action, Joseph Vogl gives a politically explosive answer to this question.\" —\u003cb\u003eJury, Leipzig Bookfair Prize\u003cbr\u003e\u003cbr\u003e\u003c\/b\u003e \"A bold and clever treatise on political economy... A lively debate of the issues raised by this book would be greatly welcomed, being in its essence a debate about the image of the West... and how we might live under great fiscal uncertainty.\" —\u003cb\u003eSuddeutsche Zeitung\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e \"With stunning erudition Vogl explores the dark corners of the neoliberal political economy, where states fuse with finance and the public power is simultaneously marketized and de-democratized. Anchored in a concise history of the modern state and its claims to sovereignty, Vogl's analysis focuses on the strangest creation of modern capitalism, money.\" —\u003cb\u003eWolfgang Streeck, emeritus director, Max Planck Institute for the Study of Societies, Cologne\u003cbr\u003e\u003cbr\u003e\u003c\/b\u003e \"It is no overstatement to call this book groundbreaking. In \u003ci\u003eThe Ascendancy of Finance\u003c\/i\u003e, Joseph Vogl recasts nearly half a millennia of economic history to argue that the symbiosis of the finance and political spheres is longstanding, and that the informalization of policy-making, as seen most dramatically in 2008, threatens to bypass democracy. Indispensable reading, and, in these tumultuous times, the Ascendancy of Finance is both illuminating and chilling.\" —\u003cb\u003eJanine Wedel, George Mason University\u003cbr\u003e\u003c\/b\u003e \u003cp\u003e\"In elegant historical-institutionalist fashion, Vogl recounts the long story of modern money’s development, tracing the co-evolution of sovereign states and financial markets—each needing the other in defence of its own credit and credibility.\"\u003cb\u003e—Wolfgang Streeck in \u003ci\u003eNew Left Review\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cb\u003e\u003cbr\u003e\u003cbr\u003e\u003c\/b\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThe global financial crisis of 2008 ushered in a system of informal decision-making in the grey zone between economics and politics. Legitimized by a rhetoric of emergency, ad hoc bodies have usurped democratically elected governments. In line with the neoliberal credo, the recent crisis has been used to realize the politically impossible and to re-align executive power with the interests of the finance industry. \u003cbr\u003e\u003cbr\u003e In this important book, Joseph Vogl offers a much longer perspective on these developments, showing how the dynamics of modern finance capitalism have always rested on a complex and constantly evolving relationship between private creditors and the state. Combining historical and theoretical analysis, Vogl argues that over the last three centuries, finance has become a \"fourth estate,\" marked by the systematic interconnection of treasury and finance, of political and private economic interests.  \u003cbr\u003e\u003cbr\u003e Against this historical background, Vogl explores the latest phase in the financialization of government, namely the dramatic transfer of power from states to markets in the latter half of the 20th century. From the liberalization of credit and capital markets to the privatization of social security, he shows how policy has actively enabled a restructuring of the economy around the financial sector. Political systems are \"imprisoned\" by the regime of finance, while the corporate model suffuses society, enclosing populations in the production of financial capital. \u003cbr\u003e\u003cbr\u003e \u003ci\u003eThe Ascendancy of Finance\u003c\/i\u003e provides valuable and unsettling insight into the genesis of modern power and where it truly resides.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePreface\u003cbr\u003e Chapter one\u003cbr\u003e Functional dedifferentiation\u003cbr\u003e Chapter two\u003cbr\u003e Economy and government\u003cbr\u003e Chapter three\u003cbr\u003e Seigniorial power\u003cbr\u003e Chapter four\u003cbr\u003e Apotheosis of finance\u003cbr\u003e Chapter five\u003cbr\u003e Fourth power\u003cbr\u003e Chapter six\u003cbr\u003e Reserves of sovereignty\u003cbr\u003e Notes\u003cbr\u003e Figure credits\u003cbr\u003e Index\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Politics \u0026amp; government [\u003ca title=\"See our other books on Politics \u0026amp; government\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Politics%20\u0026amp;%20government%20%5BJP%5D%22\"\u003eJP\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Polity","offers":[{"title":"Brand New","offer_id":52441782255896,"sku":"9781509509294","price":45.78,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781509509294.jpg?v=1785024811","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-ascendancy-of-finance-hardback-9781509509294","provider":"Freshly Printed Books","version":"1.0","type":"link"}