Money talks: the language of the Rochester School

Chabrak, Nihel

doi:10.1108/09513571211209608

Cited by 41 publications

(24 citation statements)

References 58 publications

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“…Chabrak 2012 Hayek in 1947. Chabrak (2012 writes that the "MPS is distinctive because it was a secretive group, met annually/biannually, issued no findings or recommendations, and rejected taking part in any direct political action.…”

Section: Financial Economics In the Academic Departments Of Accountinmentioning

confidence: 99%

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confidence: 99%

“…Chabrak (2012) notes that Director and Friedman were related by marriage15 This was not true of one of the sponsors.Chabrak (2012, p 462) notes that, "supporting a 20-year battle of ideas was much too long for its founders. Volker stopped funding the MPS in 1957".16 Chabrak (2012) notes that there are over 100 libertarian institutes in more than 70 countries (Blundell, J. (1999), Hayek, Fisher and The Road to Serfdom, available at: www.iea.org.uk/sites/default/files/publications/files/upldbook43pdf.pdf) 17 Friedrich vonHayek (1974), MiltonFriedman (1976), George Stigler (1982, James M. Buchanan (1986), Maurice Allais (1988), Ronald Coase (1991), Gary S.Becker (1992) and Vernon Smith(2002).18 This is achieved through these two journals and the American Accounting Association and its Accounting Review.…”

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confidence: 99%

“…http://www.princeton.edu/~erp/ERParchives/archivepdfs/M338.pdf. Retrieved February 3, 2012 20Chabrak (2012) notes that this organisational theory is appealing because it is embedded in a particular belief about human nature (set out in agency theory) and within the ideology of capitalist private property.21 Watts and Zimmerman argue that an unregulated market serves as the most efficient controller of management because if managers do not maximise the value of company shares then individuals can sanction them by selling their shares.…”

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Accounting for the fictitious: A Marxist contribution to understanding accounting's roles in the financial crisis

Cooper¹

2015

Critical Perspectives on Accounting

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This paper presents a contribution to the debates surrounding the culpability of accounting in the recent financial crisis. It adopts a Marxist theoretical perspective concentrating mainly on Marx's work on fictitious capital. Fictitious capital is any form of investment (for example bonds, stocks, derivatives, and collateralized debt obligations) which is based upon the expectation of future returns. According to Marx while fictitious capital is useful to capitalism, it cannot create valueonly human labour can do that. The recent crisis was exacerbated by the significant amounts of investment which were made in extreme forms of fictitious capital. The paper argues that the accounting profession's adoption of financial economic rationalities meant that it helped to animate the form of financialised neo-liberalism which dominated at the time of the crisis. The accounting profession and accounting academia have implemented and propagated technologies and rationalities which enabled, legitimised, and drove the activities of business in general and financial institutions in particular in the run up to and since the crisis. While, accounting could be seen as being complicit in the crisis, it is important to remember that it was a capitalist crisis. The intuitional structures of accounting mean that it is susceptible of being captured by the most powerful in society.

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Section: Financial Economics In the Academic Departments Of Accountinmentioning

confidence: 99%

mentioning

confidence: 99%

mentioning

confidence: 99%

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confidence: 99%

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Accounting for the fictitious: A Marxist contribution to understanding accounting's roles in the financial crisis

Cooper¹

2015

Critical Perspectives on Accounting

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“…Nihel Chabrak provides two interesting case studies of this diffusion of neoliberal ideas, demonstrating how key neoliberal scholars and corporate funders assisted in the development of 'positive accounting theory'(Chabrak, 2012) and the doctrine of 'shareholder value'(Chabrak, 2014).…”

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confidence: 99%