IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/12497.html
   My bibliography  Save this paper

Structure versus Agency in the Great Deprivation of 21st Century

Author

Listed:
  • Naqvi, Nadeem

Abstract

Agency-based explanations of the great deprivation, contrasted with structure-based explanations, suffer not merely from the criticism of relying on irrational and irresponsible behavior of millions, including that of the most astute financial experts, but are also at a loss to explain why such problems did not arise earlier when the same motivations and behavioral patterns were exhibited, thereby rendering such theories incomplete. Alternatively, if it is argued that such problems did not appear earlier because the economic structure was different then, then again attention must return to an examination of structure, not exclusively place blame on agency failures. (98 words)

Suggested Citation

  • Naqvi, Nadeem, 2009. "Structure versus Agency in the Great Deprivation of 21st Century," MPRA Paper 12497, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:12497
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/12497/1/MPRA_paper_12497.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Felton, Andrew & Reinhart, Carmen M. (ed.), 2009. "The First Global Financial Crisis of the 21st Century Part II: June–December, 2008," Vox eBooks, Centre for Economic Policy Research, number p199.
    2. Peter Neary, 1988. "Tariffs, Quotas, and Voluntary Export Restraints with and without Internationally Mobile Capital," Canadian Journal of Economics, Canadian Economics Association, vol. 21(4), pages 714-735, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jaime de Melo & David Tarr, 2015. "VERs under imperfect competition and foreign direct investment: A case study of the US–Japan auto VER," World Scientific Book Chapters, in: Modeling Developing Countries' Policies in General Equilibrium, chapter 22, pages 461-483, World Scientific Publishing Co. Pte. Ltd..
    2. Wim Naudé, 2009. "The Financial Crisis of 2008 and the Developing Countries," WIDER Working Paper Series DP2009-01, World Institute for Development Economic Research (UNU-WIDER).
    3. repec:ehu:cuader:7603 is not listed on IDEAS
    4. Andrew K. Rose & Mark M. Spiegel, 2010. "Cross‐Country Causes And Consequences Of The 2008 Crisis: International Linkages And American Exposure," Pacific Economic Review, Wiley Blackwell, vol. 15(3), pages 340-363, August.
    5. repec:era:chaptr:2013-rpr-29-05 is not listed on IDEAS
    6. Hans-Werner Sinn & John Hassler & Gilles Saint-Paul & Giancarlo Corsetti & Michael P. Devereux & Tim Jenkinson & Jan-Egbert Sturm & Xavier Vives, 2009. "Chapter 2: The Financial Crisis," EEAG Report on the European Economy, CESifo, vol. 0, pages 59-122, February.
    7. Johannes Hörner & Nicolas S Lambert, 2021. "Motivational Ratings [Toward the Next Generation of Recommender Systems: A Survey of the State-of-the-Art and Possible Extensions]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 1892-1935.
    8. Alan M. Taylor, 2015. "Credit, Financial Stability, and the Macroeconomy," Annual Review of Economics, Annual Reviews, vol. 7(1), pages 309-339, August.
    9. Gries Thomas & Naude Wim, 2011. "Entrepreneurship, Structural Change and a Global Economic Crisis," Entrepreneurship Research Journal, De Gruyter, vol. 1(3), pages 1-43, July.
    10. Massimo FLORIO, 2012. "The real roots of the great recession: unsustainable income distribution," Departmental Working Papers 2012-01, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    11. Girardi, Daniele, 2012. "Il settore delle costruzioni in Italia tra crisi e trasformazione [The construction sector in Italy, crisis and change]," MPRA Paper 49901, University Library of Munich, Germany.
    12. Thorvald Grung Moe, 2012. "Shadow Banking and the Limits of Central Bank Liquidity Support: How to Achieve a Better Balance between Global and Official Liquidity," Economics Working Paper Archive wp_712, Levy Economics Institute.
    13. Laetitia Lepetit & Amine Tarazi & Nadia Zedek, 2012. "Ultimate Ownership Structure and Bank Regulatory Capital Adjustment: Evidence from European Commercial Banks," Working Papers hal-00918579, HAL.
    14. David Franck & Nadeem Naqvi, 2000. "LDCs, International Capital Mobility and the Shadow Price of Foreign Exchange under Tariffs and Quantitative Restrictions," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 25(2), pages 43-54, December.
    15. Gurvich, E. & Prilepskiy, I., 2010. "What Determined the Depth of Recession?," Journal of the New Economic Association, New Economic Association, issue 8, pages 55-79.
    16. Sorin BURNETE, 2017. "Outsourcing under Threat: Estimated Impact of Potential Tariffs on US Imports from Mexico," Expert Journal of Economics, Sprint Investify, vol. 5(3), pages 88-97.
    17. Azra Hadziahmetovic & Jasmin Halebic & Nerma Colakovic–Prguda, 2018. "Economic Crisis: Challenge For Economic Theory And Policy," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 6(4), pages 48-55.
    18. Casu, Barbara & Clare, Andrew & Saleh, Nashwa, 2011. "Towards a new model for early warning signals for systemic financial fragility and near crises: an application to OECD countries," MPRA Paper 37043, University Library of Munich, Germany.
    19. James E. Anderson & J. Peter Neary, 1996. "A New Approach to Evaluating Trade Policy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 63(1), pages 107-125.
    20. Abdel-Baki Monal A., 2012. "The Impact of Basel III on Emerging Economies," Global Economy Journal, De Gruyter, vol. 12(2), pages 1-33, June.
    21. A. Edward Safarian, 2011. "International Mergers and Acquisitions," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 6, Edward Elgar Publishing.
    22. Anderson, James E & Bannister, Geoffrey J & Neary, J Peter, 1995. "Domestic Distortions and International Trade," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(1), pages 139-157, February.

    More about this item

    Keywords

    structure; agency; great deprivation; financial crisis; fiscal policy; monetary policy; skilled labor markets; American economy; involuntary unemployment; voluntary unemployment; education; training; skill acquisition; income distribution; China; India; Germany; Japan;
    All these keywords.

    JEL classification:

    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F01 - International Economics - - General - - - Global Outlook
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:12497. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.