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Responsibility in the financial crisis

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Sorell, Tom (2018) Responsibility in the financial crisis. Midwest Studies In Philosophy, 42 (1). pp. 20-36. doi:10.1111/misp.12081 ISSN 0363-6550.

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Official URL: http://doi.org/10.1111/misp.12081

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Abstract

The global financial crisis began in 2007, and we are still feeling its effects. It has involved the collapse or near- collapse of large commercial banks, hugely expensive interventions by governments to guarantee deposits and buy bank assets, a steep decline in bank lending to individuals and businesses, significant falls in consumer activity, both domestic and international, with a resulting reduction in trade. Government indebtedness due to the crisis has resulted in diminished welfare states in Western Europe and a worsening of the position of the worst off in developed countries. In the United States, repossessions of properties rose very markedly after 2006, and members of both low and middle income groups have at times been very badly affected.

Item Type: Journal Article
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Divisions: Faculty of Social Sciences > Politics and International Studies
Library of Congress Subject Headings (LCSH): Global Financial Crisis, 2008-2009 -- Moral and ethical aspects, Banks and banking
Journal or Publication Title: Midwest Studies In Philosophy
Publisher: Wiley-Blackwell Publishing, Inc.
ISSN: 0363-6550
Official Date: September 2018
Dates:
DateEvent
September 2018Published
30 July 2018Available
18 June 2018Accepted
Volume: 42
Number: 1
Page Range: pp. 20-36
DOI: 10.1111/misp.12081
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Open Access (Creative Commons)
Description:

Special issue: moral responsibility and the Financial Crisis

Date of first compliant deposit: 20 June 2018
Date of first compliant Open Access: 22 October 2018
RIOXX Funder/Project Grant:
Project/Grant IDRIOXX Funder NameFunder ID
AH/J001252/1[AHRC] Arts and Humanities Research Councilhttp://dx.doi.org/10.13039/501100000267
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