The University of Southampton
University of Southampton Institutional Repository

In the aftermath of the financial crisis: risk governance and the emergence of pre-emptive surveillance

In the aftermath of the financial crisis: risk governance and the emergence of pre-emptive surveillance
In the aftermath of the financial crisis: risk governance and the emergence of pre-emptive surveillance
This article examines the financial reforms that have been undertaken through two perspectives on risk: that of Beck's world risk society and an alternative Foucauldian approach. The former argues that, catastrophes such as the recent financial crisis will induce a political shift towards a cosmopolitan form of statehood. Yet, the lack of radical reform since the financial crisis would suggest otherwise. The article therefore argues that what we are witnessing is best understood in terms of reflexive governance in which the various rationalities of risk are reassessed and strengthened in order to avoid a similar occurrence in the future. Moreover, in response to the uncertainty that surrounds such rare events, more intense forms of surveillance have been adopted with the objective of pre-empting any future crisis. Yet, for various reasons, the reforms remain rather limited and the new rationality of pre-emption is unlikely to prevent further crises from occurring in the future.
0260-2105
227-246
Glenn, John
d843e423-d1f9-4be5-b667-8e44a42efff2
Glenn, John
d843e423-d1f9-4be5-b667-8e44a42efff2

Glenn, John (2014) In the aftermath of the financial crisis: risk governance and the emergence of pre-emptive surveillance. Review of International Studies, 40 (2), 227-246. (doi:10.1017/S0260210513000132).

Record type: Article

Abstract

This article examines the financial reforms that have been undertaken through two perspectives on risk: that of Beck's world risk society and an alternative Foucauldian approach. The former argues that, catastrophes such as the recent financial crisis will induce a political shift towards a cosmopolitan form of statehood. Yet, the lack of radical reform since the financial crisis would suggest otherwise. The article therefore argues that what we are witnessing is best understood in terms of reflexive governance in which the various rationalities of risk are reassessed and strengthened in order to avoid a similar occurrence in the future. Moreover, in response to the uncertainty that surrounds such rare events, more intense forms of surveillance have been adopted with the objective of pre-empting any future crisis. Yet, for various reasons, the reforms remain rather limited and the new rationality of pre-emption is unlikely to prevent further crises from occurring in the future.

Text
JG - Pre-emptive_state_RIS_Revision_Feb2013.doc - Accepted Manuscript
Download (187kB)

More information

e-pub ahead of print date: 3 July 2013
Published date: April 2014
Organisations: Politics & International Relations

Identifiers

Local EPrints ID: 381958
URI: http://eprints.soton.ac.uk/id/eprint/381958
ISSN: 0260-2105
PURE UUID: f88a7810-400c-4809-9df9-f6967092dd7e
ORCID for John Glenn: ORCID iD orcid.org/0000-0001-9694-8282

Catalogue record

Date deposited: 26 Oct 2015 10:04
Last modified: 09 Jan 2022 02:52

Export record

Altmetrics

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×