Losing the storyline: The hard-edged struggle to shape the post-crisis agenda
Before the financial crisis, write Julie Froud, Adriana Nilsson, Michael Moran and Karel Williams, the governing agenda was shaped by “reassuring liturgies” about the defeat of inflationary pressures and the benefits of financial innovation. But the crisis itself has led to a period of intensified conflict in which rival interests offer “competing stories” about the nature of the crisis and appropriate responses. “So long as no story wins out,” the authors argue, “group identity, institutional affiliation, and crude calculations of interest become more important.” Post-crisis politics, they argue, “is ‘turf wars’ writ large.” Open access to the article: Stories and Interests in Finance: Agendas of Governance Before and After the Financial Crisis.
