“Spain, the Sovereign Debt Crisis and the Sociology of Finance.” Panel presentation at SASE 2011 (Madrid, June)
May 20, 2011
With the dramatic bailouts of Greece, Ireland and Portugal (and the fear of one in Spain that never happened), the sovereign debt crisis of 2010-11 has put a distinct political twist on a crisis that seemed to be purely financial. Initially the debate centered on the complexities of mortgage finance. But as the pain extended into the sovereign finances of Western countries, events have called for political reform, bringing politics to the fore of the debate.
The sovereign crisis thus poses key questions at the intersection of markets and politics that economic sociologists are well prepared to address:
• How have the political choices of European welfare states come to depend on the opinions of unelected credit rating agencies?
• What makes effective for policies in financialized economies that need buyers for their bonds?
• How is the financial complexity of the crisis experienced by citizens, and what narratives do they construct to make sense of it?
This panel session addresses these questions by putting together three Spanish-speaking sociologists with local expertise in the Spanish sovereign crisis. Jose Luis Alvarez is Professor of Business Policy at ESADE Business School in Madrid. David Martin is Assistant Professor at Negocia (the college of the Parisian Chamber of Commerce) and has been conducting fieldwork in Madrid over the past year. Daniel Beunza is Lecturer in Management at the London School of Economics, is originally from Spain. The discussant will be Bruce Carruthers (Northwestern University), who will bring an international perspective on the debate from his expertise in the sociology of finance.
For more information, see here:SASE panel 2011 – Spain, the Sovereign Crisis and the Sociology of Finance