Welfare Reform and the Logic of Financial Responsibility: Creating the ‘Value-able’ Subject

Pemberton, Edward

doi:10.1080/13563467.2019.1708881

Cited by 7 publications

(3 citation statements)

References 50 publications

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“…The newly created instruments have an extensive and diverse structure, making assigning them to prudential regulations difficult. The financial market is also characterised by securitisation, which enables the conversion of assets into financial flows (Pemberton, 2021). It applies, among others, to the case of mortgage loans, which can be converted on the bank's balance sheet into securities secured by cash flows from the repayment of loan instalments.…”

Section: Entrepreneurship and Sustainability Issuesmentioning

confidence: 99%

Financialization of European Union countries - an attempt to determine differentiation through cluster analysis

Florczak

2024

JESI

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The process of increasing the importance of the financial sector in the economy is referred to as financialisation. This process can be observed in many sectors of the economy. The article aimed to identify the differentiation in the financialisation of European Union countries. The article verified the research hypothesis according to which the differentiation of EU countries due to financialisation, determined using cluster analysis, consent with the division into groups of countries according to geographical criteria. The k-means cluster analysis method was used to assign countries to individual groups. Six variables were adopted for the research (the ratio of the current level of budget balance to GDP, the ratio of public debt to GDP, the ratio of public expenditure to GDP, the ratio of household debt to GDP, the ratio of household consumption expenditure to GDP, the investment rate of non-financial enterprises). Based on the average values of indicators for the period 2011-2021, EU countries were assigned to characteristic groups differing in the specificity of financialisation. The results indicate that the countries of Central and Eastern Europe were classified into one cluster, while the countries of Southern Europe were classified into two separate clusters. It seems essential to classify the countries of Western Europe and Northern Europe into one cluster. The literature on the subject includes studies of financialisation and its impact on the economy. However, it is difficult to find studies that divide countries according to characteristics related to financialisation.

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Section: Entrepreneurship and Sustainability Issuesmentioning

confidence: 99%

Financialization of European Union countries - an attempt to determine differentiation through cluster analysis

Florczak

2024

JESI

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“…Unite Community demonstrations have been a notable presence within Newcastle and Chesterfield, raising the profile of the issues, particularly Universal Credit, and petitioning objections. The campaigns have had reasonable success, raising the profile of welfare issues with considerable national coverage and the message of 'scrap Universal Credit' adopted by the Labour Party during the 2019 General Election (see also Pemberton, 2020).…”

Section: Sites Of Agency: Campaigning and Solidaritiesmentioning

confidence: 99%

Expanding labour geographies: Resourcefulness and organising amongst ‘unemployed workers’

Griffin

2021

Geoforum

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“…Mills and Klein detailed the punishment‐based deterrence that has been built into UK welfare regimes to deter applications. Pemberton has drawn complementary conclusions, emphasizing that the reform of benefit payments into Universal Credit under the Conservative–Liberal Democratic coalition government made new demands of financial responsibility on claimants. Koch and Reeves also studied universal credit, emphasizing that the impact of coalition‐era welfare reform was to make social security more insecure, rendering workers more reliant on their employers.…”

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confidence: 99%

Review of periodical literature for 2021

Gibbs

2022

The Economic History Review

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The impact of economic shocks was an important topic of current debate during 2021 as Britain experienced the COVID-19 lockdown as well as the beginning of rising inflation and energy price increases. These themes were also present in the literature published that year, which addressed the impact of shifts in which terms of trade and policy responses to currency and other economic pressures were dominant features. The context of the renegotiation of Britain's economic relations with other nations and an increasingly diverse society were other common areas of study, incorporating both the influence of European integration on business and consumer taste as well as the impacts of decolonization and Commonwealth immigration.An analysis of long-term patterns of inflation was developed by Forbes et al., who found that a 'trendy' (p. 23) rather than more prescriptive approach was beneficial to understanding the complex factors which have shaped the value of sterling over time. They concluded that given the nature of Britain's comparatively open economy and dependency on imports and monetary flows, international prices and exchange rates have been the dominant factor that explain Britain's inflation dynamics in recent decades. Bahmani-Oskooee and Karamelikli's research on bilateral trading relationships between Britain and eurozone economies found that exchange rate fluctuations had divergent effects on the trade balance. Nevertheless, sterling depreciation was broadly negative for the UK's position. In a paper published in the Scottish Journal of Political Economy, Bahmani-Oskooee et al. concluded that between 1996 and 2018, short-run exchange rate effects in terms of dollar-pound volatility had an observable impact on trade across a large range of industries. These statistical studies were complemented by archival research on shifts in monetary policy. Butkiewicz and Ohlmacher's Economic History Review paper used new evidence from the Nixon White House tapes to better understand responses to the currency crisis that led to the end of the Bretton Woods system. It found British requests for support against the impact of dollar devaluation on sterling impacted discussions and shaped Nixon's choice to impose wageprice controls as part of a distraction from the realities of a devaluation through shifts in the dollar exchange rate. Aliber's paper on the summit Nixon hosted at Camp David in August 1971 indicates that Nixon had hoped to alter exchange rates to favour American exports, but in fact, devaluation only led to an influx of foreign purchases of US securities, contributing to the United States subsequently becoming the world's largest debtor.

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Welfare Reform and the Logic of Financial Responsibility: Creating the ‘Value-able’ Subject

Cited by 7 publications

References 50 publications

Financialization of European Union countries - an attempt to determine differentiation through cluster analysis

Financialization of European Union countries - an attempt to determine differentiation through cluster analysis

Expanding labour geographies: Resourcefulness and organising amongst ‘unemployed workers’

Review of periodical literature for 2021

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