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The roles of financial asset market failure denial and the economic crisis: Reflections on accounting and financial theories and practices

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  • McSweeney, Brendan

Abstract

Throughout the world every economic and socio-economic indicator has deteriorated. The so-called 'real economy' has been deeply contaminated by the most significant global financial crisis for seven decades. The ultimate extent and duration of this rampant degeneration and its longer-term political effects are unpredictable but what caused the crisis? This paper examines a range of suppositions made in theories which deny the possibility of financial asset market failure and identifies ways in which they contributed to the circumstances and actions which created the current crisis.

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Bibliographic Info

Article provided by Elsevier in its journal Accounting, Organizations and Society.

Volume (Year): 34 (2009)
Issue (Month): 6-7 (August)
Pages: 835-848

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Handle: RePEc:eee:aosoci:v:34:y:2009:i:6-7:p:835-848

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Cited by:
  1. Dena Lawrence & Federica Pazzaglia & Karan Sonpar, 2011. "The Introduction of a Non-Traditional and Aggressive Approach to Banking: The Risks of Hubris," Journal of Business Ethics, Springer, vol. 102(3), pages 401-420, September.
  2. Jeremy Morales & Yves Gendron & Henri Guenin-Paracini, 2012. "La Crise Grecque : Un Scandale Manqué," Post-Print hal-00690951, HAL.
  3. Jane Davison, 2011. "Barthesian perspectives on accounting communication and visual images of professional accountancy," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 24(2), pages 250-283, February.
  4. Jupe, Robert, 2012. "The privatization of British Energy: Risk transfer and the state," Accounting, Organizations and Society, Elsevier, vol. 37(2), pages 116-129.

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