BOOK REVIEW: Disembedded: Regulation, Crisis, and Democracy in the Age of FinanceBy Basak Kus, Oxford: Oxford University Press, 2024, 200 pp. $29.95 (paperback). ISBN: 9780197764879

Abstract

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Basak Kus’s Disembedded examines how decades of financialization led to the 2008 Financial Crisis. She argues that deregulation, regulatory drift, and market-led governance detached financial markets from government oversight, creating systemic vulnerabilities. Drawing from Karl Polanyi, Kus highlights the shift from state protectionism to market self-regulation, exposing individuals to financial risks. She critiques neoliberal policies and suggests future research on post-crisis regulations, European parallels, and geopolitical influences on financialization. However, she overlooks the Cold War's role in shaping US financial policies.