Governing Financialization: The Tangled Politics of Financial Liberalization in Britain PDF
Preview Governing Financialization: The Tangled Politics of Financial Liberalization in Britain
Governing Financialization Governing Financialization The Tangled Politics of Financial Liberalization in Britain JACK COPLEY 1 3 GreatClarendonStreet,Oxford,OX26DP, UnitedKingdom OxfordUniversityPressisadepartmentoftheUniversityofOxford. ItfurtherstheUniversity’sobjectiveofexcellenceinresearch,scholarship, andeducationbypublishingworldwide.Oxfordisaregisteredtrademarkof OxfordUniversityPressintheUKandincertainothercountries ©JackCopley2022 Themoralrightsoftheauthorhavebeenasserted FirstEditionpublishedin2022 Impression:1 Allrightsreserved.Nopartofthispublicationmaybereproduced,storedin aretrievalsystem,ortransmitted,inanyformorbyanymeans,withoutthe priorpermissioninwritingofOxfordUniversityPress,orasexpresslypermitted bylaw,bylicenceorundertermsagreedwiththeappropriatereprographics rightsorganization.Enquiriesconcerningreproductionoutsidethescopeofthe aboveshouldbesenttotheRightsDepartment,OxfordUniversityPress,atthe addressabove Youmustnotcirculatethisworkinanyotherform andyoumustimposethissameconditiononanyacquirer PublishedintheUnitedStatesofAmericabyOxfordUniversityPress 198MadisonAvenue,NewYork,NY10016,UnitedStatesofAmerica BritishLibraryCataloguinginPublicationData Dataavailable LibraryofCongressControlNumber:2021939029 ISBN 978–0–19–289701–5 DOI:10.1093/oso/9780192897015.001.0001 PrintedandboundintheUKby TJBooksLimited LinkstothirdpartywebsitesareprovidedbyOxfordingoodfaithand forinformationonly.Oxforddisclaimsanyresponsibilityforthematerials containedinanythirdpartywebsitereferencedinthiswork. ForJimmyCopleyandBrynGough Acknowledgements Thisbookwasmanyyearsinthemaking.ItgrewoutofresearchthatIconducted whiledoingmyPhDattheUniversityofWarwick—fundedbytheEconomicand Social ResearchCouncil, to which I am grateful. I was lucky to be supervised by MatWatson and Ben Clift,and Iowe thembothagreat dealof thanks for their generosity, intellectual stimulation, and continuing mentorship. Many people have provided me with valuable feedback on the research contained in this book, but I want to extend my particular thanks to Andrew Gamble, Chris Rogers, Lorenzo Feltrin, and Te-Anne Robles. I am deeply grateful to Alexis Moraitis and Javier Moreno Zacarés for reading the entire manuscript and providing insightful feedback. Thanks are also due to the team at Oxford University Press, especially Dominic Byatt for his excellent editorial guidance, and to the anonymous reviewers for their comments. This book’s argument has been honed over the years through countless discussions with brilliant students, and I would like to acknowledge in particular my ‘Meltdowns’ students at the Universityof Bath with whom Ihavehad manyfruitfulconversations about the key themes of this book. To my parents, I owe so much. I thank them for their love,support,andencouragement.ToEuge,teamoygraciasportodo. Earlier versions of sections of Chapters 2 and 4 appeared in J. Copley (2017), ‘Financial Deregulation and the Role of Statecraft: Lessons from Britain’s 1971 Competition and Credit Control Measures’, New Political Economy, 22(6): 692–708andJ.CopleyandA.Moraitis(2020),‘BeyondtheMutualConstitution ofStatesandMarkets:OntheGovernanceofAlienation’,NewPoliticalEconomy, DOI: 10.1080/13563467.2020.1766430. These articles can be accessed at https:// www.tandfonline.com/. Further, previous drafts of parts of Chapters 5 and 7 appeared in J. Copley and M. E. Giraudo (2019), ‘Depoliticizing Space: The Politics of Governing Global Finance’, Environment and Planning C: Politics and Space, 37(3): 442–60 and J. Copley (2019), ‘Why Were Capital Controls Abandoned? The Case of Britain’s Abolition of Exchange Controls’, British JournalofPoliticsandInternationalRelations,21(2):403–20. List of Figures 3.1. UKprofitabilityandinflation,1950–90 54 3.2. UKofficialinternationalcurrencyreserves,1948–90 64 5.1. Thesterlingexchangerate,1976–79 92
The list of books you might like
