Purpose – This paper sets out to investigate the potential contribution of the inter‐disciplinary field of ecological economics to the explanation of the current economic crisis. The root of the crisis is the growing disjuncture between the real economy of production and the paper economy of...

Purpose – This paper seeks to provide insights into the current global financial crisis from an institutional theory perspective. Design/methodology/approach – The paper presents the development of key concepts using institutional theory, grounded in a discussion of the context of the...

Purpose – The purpose of this paper is to expand understanding of the current global financial crisis in light of other large‐scale financial crises. Design/methodology/approach – The phenomenon of large‐scale financial crisis has not been modeled well by neo‐classical general...

Purpose – This paper aims to examine the current financial crisis, suggesting that most analyses have attributed the crisis to a lack of business ethics, the rise of greed and lax regulation. Prescriptions offered to address this crisis draw accordingly on the need for greater regulation of...

Purpose – This article seeks to discuss three key issues raised by the recent financial crisis: the rise of “activist states”; a new focus on the geopolitical effects of finance; and possible future social implications of the rapid response to crisis. Design/methodology/approach – The...

Purpose – This paper sets out to analyze the current global financial crisis that originated in the US subprime mortgage market through the lens of the Kindleberger‐Aliber‐Minsky (KAM) paradigm as set forth in Kindleberger and Aliber's Manias, Panics and Crashes , to first examine the...

Purpose – The purpose of this paper is to show how some of the assumptions about the current financial crisis are wrong because they misunderstand what takes place in the mortgage market. Design/methodology/approach – The paper discusses four wrong assumptions: one related to regulation, one...

Purpose – The global economy has entered what appears to be a very serious financial crisis for reasons other than force majeure . While the current focus has to be on preventing a repeat of the Great Depression, efforts must also be made to understand why the crisis came about in the first...

Purpose – This paper seeks to use the way in which markets in derivatives have developed historically to examine how neo‐classical market‐oriented economic theory has been used as a stalking‐horse to create an illusionary market in the increasingly complex derivatives that have brought...

Purpose – The purpose of this paper is to highlight the effects of the financial crisis on international business. Design/methodology/approach – The paper argues that international business is differentiated by line of business and country of operation. Findings – The crisis will therefore...