Après la crise financière : « réguler » ou refondre ?
The magnitude of the crisis directly questions the effectiveness of prudential regulations as they are doomed to encounter three major obstacles: 1) the competition forces as they drive agents possibly against their will; 2) the essential impossibility of a proper risk control ex ante; 3) the symbol...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
2009-06-01
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/7461 |
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| _version_ | 1832577971885441024 |
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| author | Frédéric Lordon |
| author_facet | Frédéric Lordon |
| author_sort | Frédéric Lordon |
| collection | DOAJ |
| description | The magnitude of the crisis directly questions the effectiveness of prudential regulations as they are doomed to encounter three major obstacles: 1) the competition forces as they drive agents possibly against their will; 2) the essential impossibility of a proper risk control ex ante; 3) the symbolic effects of “innovation” as a social belief as it twists collective expectations and risk appraisal. Contrary to the prudential approaches, too likely to be overwhelmed by a new bubble dynamic, the present paper advocates for a radical overhaul of financial structures, according to the twoflold principle of a drastic decrease in the profit-risk profile of capital market activities and of their severe “desophistication” as well. Several propositions are made in this line including one aiming at a new brand of banking structures giving way to what could dubbed a “socialized credit system”. |
| format | Article |
| id | doaj-art-8df9d6a24b6949ab88463b7521fcbd69 |
| institution | Kabale University |
| issn | 1957-7796 |
| language | English |
| publishDate | 2009-06-01 |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj-art-8df9d6a24b6949ab88463b7521fcbd692025-01-30T14:26:14ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962009-06-01510.4000/regulation.7461Après la crise financière : « réguler » ou refondre ?Frédéric LordonThe magnitude of the crisis directly questions the effectiveness of prudential regulations as they are doomed to encounter three major obstacles: 1) the competition forces as they drive agents possibly against their will; 2) the essential impossibility of a proper risk control ex ante; 3) the symbolic effects of “innovation” as a social belief as it twists collective expectations and risk appraisal. Contrary to the prudential approaches, too likely to be overwhelmed by a new bubble dynamic, the present paper advocates for a radical overhaul of financial structures, according to the twoflold principle of a drastic decrease in the profit-risk profile of capital market activities and of their severe “desophistication” as well. Several propositions are made in this line including one aiming at a new brand of banking structures giving way to what could dubbed a “socialized credit system”.https://journals.openedition.org/regulation/7461financial innovationFinacial crisisspeculative bubblesfinancial globalisation |
| spellingShingle | Frédéric Lordon Après la crise financière : « réguler » ou refondre ? Revue de la Régulation financial innovation Finacial crisis speculative bubbles financial globalisation |
| title | Après la crise financière : « réguler » ou refondre ? |
| title_full | Après la crise financière : « réguler » ou refondre ? |
| title_fullStr | Après la crise financière : « réguler » ou refondre ? |
| title_full_unstemmed | Après la crise financière : « réguler » ou refondre ? |
| title_short | Après la crise financière : « réguler » ou refondre ? |
| title_sort | apres la crise financiere reguler ou refondre |
| topic | financial innovation Finacial crisis speculative bubbles financial globalisation |
| url | https://journals.openedition.org/regulation/7461 |
| work_keys_str_mv | AT fredericlordon apreslacrisefinanciereregulerourefondre |