Capital and the debt trap: learning from cooperatives in the global crisis
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Basingstoke [u.a.]
Palgrave Macmillan
2011
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XIV, 274 S. |
| ISBN: | 9780230252387 |
Staff View
MARC
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Record in the Search Index
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|---|---|
| adam_text | Contents
List of Boxes, Figures and Tables
ix
Foreword by Ian MacPherson
χ
Acknowledgements
xiii
Introduction
1
1
The Mother of All Crises?
5
Introduction
5
How it began: the sub-prime housing market in the USA
6
Danger ahead
8
Bursting the global bubble
12
Wealth destruction
19
Homes and pensions
21
Jobs and plants
22
Trade and investment
26
Curbing the crisis
29
State aid to banks: solvency and nationalization
30
Stimulus packages
32
State spending and solvency
33
Governments face a public debt crisis
35
Which strategies have been attempted to restart growth?
37
Technology and industrial policy
38
Regionalism and deleveraging
39
Investing in commodities and SMEs
39
Regulation to contain the worst excesses by banks and lenders
40
Conclusion
42
2
Causes and Mechanisms: The Crisis as a Debt Trap
45
Introduction
45
Hypotheses concerning the causes of the crisis
45
The individualistic hypothesis
45
The monetary hypothesis
48
Problematic business models
49
The systemic reproduction hypothesis
The three traps
The consumption trap
55
The liquidity trap
63
The debt trap 71
Conclusion
vi
Contents
3
Shifting Control versus Ownership
79
Introduction
The relevance of discussing the organization of economic
.... 80
entities 2
Ownership and control
The evolution of the concepts of ownership and control
82
Financialization j*^
Technification 8^
Control versus ownership in key economic functions
87
The investor function
The producer function 91
The consumer function v
Conclusion 10°
4
Cooperatives: Importance, Resilience and Rationality
101
Introduction
Ю1
Critiques of cooperatives 102
The economic and social importance of cooperatives
in the world
105
Economic importance
Ю5
Social and employment importance
108
Economic and social contributions that cannot be measured
by conventional methods
109
The resilience of cooperatives to the crisis
111
Understanding the essence of the cooperative rationality
114
The international cooperative standards
114
The first layer in understanding the cooperative rationality:
the international definition
H
6
The second layer in understanding the cooperative
rationality: the operational principles
119
Cooperative values
126
Mutuais,
a very similar type of economic organization
127
A political economy approach to cooperatives
128
5
Natividad
Island Divers and Fishermen s Cooperative,
Mexico: Managing Natural Resources to Generate Wealth
130
Introduction
130
The evolution of the cooperative
130
Internal organization, impact of the crisis and partnerships
132
Managing natural resources
133
Conclusion: combining long-term environmental,
economic and social interests
134
6
Ceralep
Société Nouvelle,
France: David and
Goliath in the Global Economy
136
Introduction
235
Evolution of Ceralep up to
2003 137
Contents
vii
The petition for bankruptcy
139
From liquidation to the establishment of the cooperative
140
Community mobilization and fund raising
142
The Ceralep
Société Nouvelle
cooperative
145
Main lessons from the Ceralep experience, as viewed by the
participants
148
Absentee investors versus real economy producers
148
How Ceralep was transformed into a cooperative
149
On the cooperative model
150
Conclusion
151
7
The
Desjardins
Cooperative Group: A Financial Movement
for Quebec s Development
152
Introduction
152
Desjardins
first steps
153
The Great Depression: an opportunity for the
Desjardins
network to grow
155
The post-war period, the
1960s
and
1970s:
the debate
on consumption patterns
156
The
1980s
and
1990s:
the North American free trade
agreement and globalization
159
The internal debate on the group s restructuring
in the
1990s 163
Between
2000
and the global crisis:
Desjardins
big
transformation
168
The global crisis and the future
171
Conclusion
174
8
The Mondragon Cooperative Group: Local Development
with a Global Vision
176
Introduction
176
The first stage: education and research, self-finance and
entrepreneurial development
(1943-79) 178
The very first steps
178
Basic characteristics of a Mondragon cooperative
179
The birth and development of the group s support institutions
180
How the bank was involved in the creation and early
development of the cooperatives
185
The second stage: economic crisis, entry into the
EU,
globalization
(1980-91) 187
The crisis of the early
1980s 187
Entry into the
EU
and the beginning of the Mondragon
group s restructuring
191
The third stage: the development of the Mondragon
corporation
(1991-2008) 194
Implementing the restructuring process
194
viii Contents
Expansion
and internationalization
195
New financial mechanisms
195
Evolution in the distribution sector
196
Exploring new activities: social services
197
Education and academic research
198
R&D
199
The fourth stage: managing the crisis (2(K)H-1O)
200
Impact of the crisis on Mondragon
200
What the group is doing to counter the effects of the crisis
201
Conclusion: main lessons from the Mondragon group
207
The effort to create sustainable jobs
207
Strong emphasis on education and training, leading
to a societal project
209
Solidarity and cooperation among enterprises, combined
with a rigorous entrepreneurial approach
209
Equilibrium and adaptation to change
210
Is the Mondragon model replicable?
211
9
The Global Crisis: Mother of All Warnings
212
Introduction
212
Stepping off the trodden path
213
The direct contribution of cooperatives to the economy
215
Systemic contribution
215
Incidence in key economic activities
216
Creating shared wealth
218
The indirect contribution of cooperatives to the economy
as a source of inspiration
220
Change may well be on the horizon
222
Notes 224
List of Interviewees
259
Bibliography
261
Index 270
|
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| id | DE-604.BV039715533 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T00:09:35Z |
| institution | BVB |
| isbn | 9780230252387 |
| language | English |
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| spelling | Sánchez Bajo, Claudia B. Verfasser aut Capital and the debt trap learning from cooperatives in the global crisis Claudia Sanchez Bajo and Bruno Roelants. Foreword by Ian MacPherson 1. publ. Basingstoke [u.a.] Palgrave Macmillan 2011 XIV, 274 S. txt rdacontent n rdamedia nc rdacarrier Genossenschaft (DE-588)4020160-0 gnd rswk-swf Solidarische Ökonomie (DE-588)7737198-7 gnd rswk-swf Schuldenkrise (DE-588)4200280-1 gnd rswk-swf Finanzkrise (DE-588)7635855-0 gnd rswk-swf Global Financial Crisis, 2008-2009 Consumer cooperatives Finanzkrise (DE-588)7635855-0 s Schuldenkrise (DE-588)4200280-1 s Genossenschaft (DE-588)4020160-0 s Solidarische Ökonomie (DE-588)7737198-7 s DE-604 Roelants, Bruno 1954- Verfasser (DE-588)1015285937 aut Digitalisierung UB Bamberg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024563742&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Sánchez Bajo, Claudia B. Roelants, Bruno 1954- Capital and the debt trap learning from cooperatives in the global crisis Genossenschaft (DE-588)4020160-0 gnd Solidarische Ökonomie (DE-588)7737198-7 gnd Schuldenkrise (DE-588)4200280-1 gnd Finanzkrise (DE-588)7635855-0 gnd |
| subject_GND | (DE-588)4020160-0 (DE-588)7737198-7 (DE-588)4200280-1 (DE-588)7635855-0 |
| title | Capital and the debt trap learning from cooperatives in the global crisis |
| title_auth | Capital and the debt trap learning from cooperatives in the global crisis |
| title_exact_search | Capital and the debt trap learning from cooperatives in the global crisis |
| title_full | Capital and the debt trap learning from cooperatives in the global crisis Claudia Sanchez Bajo and Bruno Roelants. Foreword by Ian MacPherson |
| title_fullStr | Capital and the debt trap learning from cooperatives in the global crisis Claudia Sanchez Bajo and Bruno Roelants. Foreword by Ian MacPherson |
| title_full_unstemmed | Capital and the debt trap learning from cooperatives in the global crisis Claudia Sanchez Bajo and Bruno Roelants. Foreword by Ian MacPherson |
| title_short | Capital and the debt trap |
| title_sort | capital and the debt trap learning from cooperatives in the global crisis |
| title_sub | learning from cooperatives in the global crisis |
| topic | Genossenschaft (DE-588)4020160-0 gnd Solidarische Ökonomie (DE-588)7737198-7 gnd Schuldenkrise (DE-588)4200280-1 gnd Finanzkrise (DE-588)7635855-0 gnd |
| topic_facet | Genossenschaft Solidarische Ökonomie Schuldenkrise Finanzkrise |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024563742&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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