GEOG 216 Lecture Notes - Price Floor, Mania, Predatory Pricing
8 May 2013
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Document Summary
The local geographies of the financial crisis: from the. Recent financial crisis originated in the collapse of the sub-prime mortgage boom and house price bubble in the usa. Example of glocalization with locally varying origins and global consequences. By the middle of the decade of the 2000s, people were predicting that the enormous build up of housing and consumer debt would end in a massive downward financial correction. Economic theories and models such as the dynamic stochastic general equilibrium (dsge) and the efficient market hypothesis (emh) failed to detect emerging instabilities and even suggested they couldn"t occur. Economic analyses of the crisis focused on the failures of the banking system, but analysis of the geographies of the crisis are less developed. Most geographical accounts focus mainly on the uneven consequences of the crisis globally, but this paper"s author wants to focus instead on the local geographies of the crisis, focusing mainly on the us but comparing to uk also.
