Trusts and Financialization

    Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

    Resumé

    This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth.
    This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth.
    SprogEngelsk
    TidsskriftSocio-Economic Review
    Vol/bind15
    Udgave nummer1
    Sider31-63
    Antal sider34
    ISSN1475-1461
    DOI
    StatusUdgivet - jan. 2017

    Emneord

    • Financialization
    • Wealth
    • Elites
    • Financial services

    Citer dette

    @article{0efebf694f8f414f941dbdd75e5c78ea,
    title = "Trusts and Financialization",
    abstract = "This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth.",
    keywords = "Financialization, Wealth , Elites, Financial services, Financialization, Wealth , Elites, Financial services",
    author = "Brooke Harrington",
    year = "2017",
    month = "1",
    doi = "10.1093/ser/mww014",
    language = "English",
    volume = "15",
    pages = "31--63",
    journal = "Socio-Economic Review",
    issn = "1475-1461",
    publisher = "Oxford University Press",
    number = "1",

    }

    Trusts and Financialization. / Harrington, Brooke.

    I: Socio-Economic Review, Bind 15, Nr. 1, 01.2017, s. 31-63.

    Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

    TY - JOUR

    T1 - Trusts and Financialization

    AU - Harrington,Brooke

    PY - 2017/1

    Y1 - 2017/1

    N2 - This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth.

    AB - This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth.

    KW - Financialization

    KW - Wealth

    KW - Elites

    KW - Financial services

    KW - Financialization

    KW - Wealth

    KW - Elites

    KW - Financial services

    UR - http://sfx-45cbs.hosted.exlibrisgroup.com/45cbs?url_ver=Z39.88-2004&url_ctx_fmt=info:ofi/fmt:kev:mtx:ctx&ctx_enc=info:ofi/enc:UTF-8&ctx_ver=Z39.88-2004&rfr_id=info:sid/sfxit.com:azlist&sfx.ignore_date_threshold=1&rft.object_id=111054307361010&rft.object_portfolio_id=&svc.holdings=yes&svc.fulltext=yes

    U2 - 10.1093/ser/mww014

    DO - 10.1093/ser/mww014

    M3 - Journal article

    VL - 15

    SP - 31

    EP - 63

    JO - Socio-Economic Review

    T2 - Socio-Economic Review

    JF - Socio-Economic Review

    SN - 1475-1461

    IS - 1

    ER -