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Wasting a Crisis
Why Securities Regulation Fails
Paul G. Mahoney
University of Chicago Press, 2015
The recent financial crisis led to sweeping reforms that inspired countless references to the financial reforms of the New Deal. Comparable to the reforms of the New Deal in both scope and scale, the 2,300-page Dodd-Frank Act of 2010—the main regulatory reform package introduced in the United States—also shared with New Deal reforms the assumption that the underlying cause of the crisis was misbehavior by securities market participants, exacerbated by lax regulatory oversight.

With Wasting a Crisis, Paul G. Mahoney offers persuasive research to show that this now almost universally accepted narrative of market failure—broadly similar across financial crises—is formulated by political actors hoping to deflect blame from prior policy errors. Drawing on a cache of data, from congressional investigations, litigation, regulatory reports, and filings to stock quotes from the 1920s and ’30s, Mahoney moves beyond the received wisdom about the financial reforms of the New Deal, showing that lax regulation was not a substantial cause of the financial problems of the Great Depression. As new regulations were formed around this narrative of market failure, not only were the majority largely ineffective, they were also often counterproductive, consolidating market share in the hands of leading financial firms. An overview of twenty-first-century securities reforms from the same analytic perspective, including Dodd-Frank and the Sarbanes-Oxley Act of 2002, shows a similar pattern and suggests that they too may offer little benefit to investors and some measurable harm.
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Wedded to the Land?
Gender, Boundaries, and Nationalism in Crisis
Mary N. Layoun
Duke University Press, 2001
In Wedded to the Land? Mary N. Layoun offers a critical commentary on the idea of nationalism in general and on specific attempts to formulate alternatives to the concept in particular. Narratives surrounding three geographically and temporally different national crises form the center of her study: Greek refugees’ displacement from Asia Minor into Greece in 1922, the 1974 right-wing Cypriot coup and subsequent Turkish invasion of Cyprus, and the Palestinian and PLO expulsion from Beirut following the Israeli invasion in 1982.
Drawing on readings of literature and of official documents and decrees, songs, poetry, cinema, public monuments, journalism, and conversations with exiles, refugees, and public officials, Layoun uses each historical incident as a means of highlighting a recurring trope within constructs of nationalism. The displacement of the Greek refugees in the 1920s calls into question the very idea of home, as well as the desire for ethnic homogeneity within nations. She reads the Cypriot coup and invasion as an illustration of the gendering of nation and how the notion of the inviolable woman came to represent sovereignity. In her third example she shows how the Palestinian and PLO expulsion from Beirut highlights the ambiguity of the borders upon which many manifestations of nationalism putatively depend. These chapters are preceded and introduced by a discussion of “culturing the nation” and closed by a consideration of citizenship and silence in which Layoun discusses rights ostensibly possessed by all members of a political community.
This book will be of interest to scholars engaged in cultural and critical theory, Middle Eastern and Mediterranean history, literary studies, political science, postcolonial studies, and gender studies.
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What Is Happening to News
The Information Explosion and the Crisis in Journalism
Jack Fuller
University of Chicago Press, 2010

Across America, newspapers that have defined their cities for over a century are rapidly failing, their circulations plummeting even as opinion-soaked web outlets like the Huffington Post thrive. Meanwhile, nightly news programs shock viewers with stories of horrific crime and celebrity scandal, while the smug sarcasm and shouting of pundits like Glenn Beck and Keith Olbermann dominate cable television. Is it any wonder that young people are turning away from the news entirely, trusting comedians like Jon Stewart as their primary source of information on current events?

In the face of all the problems plaguing serious news, What Is Happening to News explores the crucial question of how journalism lost its way—and who is responsible for the ragged retreat from its great traditions. Veteran editor and newspaperman Jack Fuller locates the surprising sources of change where no one has thought to look before: in the collision between a revolutionary new information age and a human brain that is still wired for the threats faced by our prehistoric ancestors. Drawing on the dramatic recent discoveries of neuroscience, Fuller explains why the information overload of contemporary life makes us dramatically more receptive to sensational news, while rendering the staid, objective voice of standard journalism ineffective. Throw in a growing distrust of experts and authority, ably capitalized on by blogs and other interactive media, and the result is a toxic mix that threatens to prove fatal to journalism as we know it.

For every reader troubled by what has become of news—and worried about what the future may hold—What Is Happening to News not only offers unprecedented insight into the causes of change but also clear guidance, strongly rooted in the precepts of ethical journalism, on how journalists can adapt to this new environment while still providing the information necessary to a functioning democracy.

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What is to Be Done About Law and Order?
Crisis in the Nineties
John Lea and Jock Young
Pluto Press, 1993
The authors look at the connection between democracy and efficiency as they investigate the meaning of law and order. The authors argue that only through a democratically accountable police service can we hope to build up relationships within the inner city.
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When Bad Things Happen to Privileged People
Race, Gender, and What Makes a Crisis in America
Dara Z. Strolovitch
University of Chicago Press, 2023
A deep and thought-provoking examination of crisis politics and their implications for power and marginalization in the United States.
 
From the climate crisis to the opioid crisis to the Coronavirus crisis, the language of crisis is everywhere around us and ubiquitous in contemporary American politics and policymaking. But for every problem that political actors describe as a crisis, there are myriad other equally serious ones that are not described in this way. Why has the term crisis been associated with some problems but not others? What has crisis come to mean, and what work does it do?
 
In When Bad Things Happen to Privileged People, Dara Z. Strolovitch brings a critical eye to the taken-for-granted political vernacular of crisis.  Using systematic analyses to trace the evolution of the use of the term crisis by both political elites and outsiders, Strolovitch unpacks the idea of “crisis” in contemporary politics and demonstrates that crisis is itself an operation of politics. She shows that racial justice activists innovated the language of crisis in an effort to transform racism from something understood as natural and intractable and to cast it instead as a policy problem that could be remedied.  Dominant political actors later seized on the language of crisis to compel the use of state power, but often in ways that compounded rather than alleviated inequality and injustice. In this eye-opening and important book, Strolovitch demonstrates that understanding crisis politics is key to understanding the politics of racial, gender, and class inequalities in the early twenty-first century.
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Wind Against the Mountain
The Crisis of Politics and Culture in Thirteenth-Century China
Richard L. Davis
Harvard University Press, 1996

Richard Davis has expertly crafted a stirring narrative of the last years of Song, focusing on loyalist resistance to Mongol domination as more than just a political event. Davis convincingly argues that Song martyrs were dying for more than dynasty alone: martyrdom can be linked to other powerfully compelling symbols as well. Seen from the perspective of the conquered, the phenomenon of martyrdom reveals much about the cultural history of the Song.

Davis challenges the traditional view of Song martyrdom as a simple expression of political duty by examining the phenomenon instead from the perspective of material life and masculine identity. He also explores the tensions between the outer court of militant radicals and an inner court run by female regents—tensions that reflect the broader split between factions of Song government as well as societal conflict. Davis reveals the true magnitude of the loyalist phenomenon in this beautifully written, fascinating study of Song political loyalty and cultural values.

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Writing Not Writing
Poetry, Crisis, and Responsibility
Tom Fisher
University of Iowa Press, 2017
The poet George Oppen comments, “There are situations which cannot honorably [be] met by art, and surely no one need fiddle precisely at the moment that the house next door is burning.” To write poetry under such circumstances, he continues, “would be a treason to one’s neighbor.” Committing himself, then, to more direct and conventional forms of response and responsibility, Oppen leaves poetry behind for twenty-five years. The disasters of the 1930s, for Oppen, put poetry into a fundamental question that could not be resolved or overcome. Yet if crisis is continual, then poetry is always turning away from the neighbor in need, always an irresponsible response in a world persistently falling apart.

Writing Not Writing both confirms this question into which crisis puts poetry and explores alternative modes of “response” and “responsibility” that poetry makes possible. Reading the silences of Oppen, Carl Rakosi, and Bob Kaufman, the renunciation of Laura Riding, and other more contemporary instances of poetic abnegation, Tom Fisher explores silence, refusal, and disavowal as political and ethical modes of response in a time of continuous crisis. Through a turn away from writing, these poets offer strategies of refusal and departure that leave anagrammatical hollows behind, activating the negational capacities of writing and aesthetics to disrupt the empire of sense, speech, and agency.

Fisher’s work is both an engaging and detailed analysis of four individual poets who left poetry behind and a theoretically provocative exploration of the political and ethical possibilities of silence, not-doing, and disavowal. In lucid but nuanced terms, Fisher makes the case that, from at least modernism forward, poetry is marked by refusals of speech and sense in order to open possibilities of response outside conventional forms of responsibility. 
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