The Library
The legacy of Frank H. Knight for the politics of financial governance
Tools
Tools
Tools
Clarke, Chris (2021) The legacy of Frank H. Knight for the politics of financial governance. Journal of Institutional Economics, 17 (6). pp. 973-987. doi:10.1017/S1744137421000436 ISSN 1744-1374.
|
PDF
WRAP-legacy-Frank.H.Knight-politics-financial-governance-Clarke-2021.pdf - Published Version - Requires a PDF viewer. Available under License Creative Commons Attribution 4.0. Download (242Kb) | Preview |
|
![[img]](http://wrap.warwick.ac.uk/style/images/fileicons/application_pdf.png) |
PDF
WRAP-legacy-Frank.H.Knight-politics-financial-governance-Clarke-2021.pdf - Accepted Version Embargoed item. Restricted access to Repository staff only - Requires a PDF viewer. Download (1096Kb) |
Official URL: https://doi.org/10.1017/S1744137421000436
Abstract
The politics of financial governance under conditions of uncertainty has re-emerged as a significant issue for scholars of International Political Economy and related fields, not least because of the fallout from the 2007-2008 financial crisis. In this article I assess the legacy of Frank H. Knight's Risk, Uncertainty, and Profit for debates about reconceptualising financial governance and fostering financial stability. I argue Knight's book is productive in assisting understanding of the fallacies of the ‘risk-based’ economic theory tending to underpin financial governance, in particular drawing attention to the limitations of social scientific knowledge that reduce governance capacity and increase uncertainty in financial markets. I further argue, after Knight's deliberately paradoxical approach, that uncertainty in finance might be beyond regulation but at the same time there is still a societal need to attempt to achieve a politics of uncertainty that can cope with ignorance of the future through experimental governmental efforts.
| 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): | Knight, Frank H. (Frank Hyneman), 1885-1972, Uncertainty , Risk , International finance, Finance -- Government policy | ||||||||
| Journal or Publication Title: | Journal of Institutional Economics | ||||||||
| Publisher: | Cambridge University Press | ||||||||
| ISSN: | 1744-1374 | ||||||||
| Official Date: | December 2021 | ||||||||
| Dates: |
|
||||||||
| Volume: | 17 | ||||||||
| Number: | 6 | ||||||||
| Page Range: | pp. 973-987 | ||||||||
| DOI: | 10.1017/S1744137421000436 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Reuse Statement (publisher, data, author rights): | This article has been accepted for publication in a revised form for publication in Journal of Institutional Economics https://www.cambridge.org/core/journals/journal-of-institutional-economics | ||||||||
| Access rights to Published version: | Open Access (Creative Commons) | ||||||||
| Date of first compliant deposit: | 18 May 2021 | ||||||||
| Date of first compliant Open Access: | 18 May 2021 | ||||||||
| Related URLs: |
Request changes or add full text files to a record
Repository staff actions (login required)
 |
View Item |
Downloads
Downloads per month over past year
