Jump to ContentJump to Main Navigation
Show Summary Details
In This Section

Accounting, Economics, and Law: A Convivium

Ed. by Avi-Yonah, Reuven S. / Biondi, Yuri / Sunder, Shyam

3 Issues per year

See all formats and pricing
In This Section

The Power of Inaction or Elite Failure? A Comment on Woll’s “The Power of Inaction”

Matthias Thiemann
  • Corresponding author
  • Department of Sociology of Money, Banking and Finance, Goethe University Frankfurt am Main, Germany
  • Email:
Published Online: 2016-01-12 | DOI: https://doi.org/10.1515/ael-2015-0011


This Review article discusses the book by Cornelia Woll, titled “The power of Inaction”.

Keywords: financial stability; bail-outs; state-finance nexus


  • Arrighi, G. (1994). The Long Twentieth Century: Money, Power, and the Origins of Our Times. Verso: London.

  • Barnett, M., & Duval, R. (2005). Power in international politics. International Organization, 59(1), 39–75. [Crossref] [Web of Science]

  • Bell, S. (2012). The power of ideas: The ideational shaping of the structural power of business. International Studies Quarterly, 56(4), 661–673, December 2012. [Crossref] [Web of Science]

  • Biondi, Y. (2014). The Strange Case of Doctor Jekyll (Alias the UK HM Treasury) and Mr Hyde (Alias its Public Debt Management) in the Aftermath of the Global Financial Crisis. 12th World Congress of the International Association for Accounting Education and Research (IAAER), November 13–15, Firenze, Italy

  • Butzbach, O., & von Mettenheim, K. E. (2015). Alternative banking theory and theory. Accounting, Economics and the Law, 5(2), 105–171.

  • Carruthers, B. (2015). Regulation writ large: A comment on Huault and Richard’ “The discreet regulator. Accounting, Economics and the Law Volume, 5(2), 227–232.

  • Culpepper, P., & Reinke, R. (2014, December). Structural power and bank bailouts in the United Kingdom and the United States, Politics & Society, 42(4), 427–454.

  • Engelen, E., Erturk, I., Froud, J, J., Johal, S., Leaver, A., Moran, M., Nilsson, A. & Williams, K. (2011). After the great complacency. Financial Crisis and the Politics of Reform. Oxford: Oxford University Press.

  • Etienne, J. (2013). Ambiguity and relational signals in regulator-regulatee relationships, Regulation and Governance, 7, 30–47.

  • Fourcade, M. (2009). Economists and Societies. Princeton: Princeton University Press.

  • Gowan, P. (1999). The global gamble: Washington’s Faustian bid for world. New York: Verso.

  • Hardie, I., Howarth, D., Maxfield, S., & Verdun, A. (2013a, October). Banks and the false dichotomy in the comparative political economy of finance. World Politics, 65(4), 691−728. [Crossref]

  • Hardie, I., Howarth, D., Maxfield, S., & Verdun, A. (2013b). Introduction: towards a political economy of banking. In I. Hardie & D. Howarth (Eds.), Market-based banking and the international financial crisis (pp. 1−21). Oxford: Oxford University Press.

  • Huault, I., & Richard, C. (2012). Finance: The discreet regulator: How financial activities shape and transform the world. London: Palgrave MacMillan.

  • Jabko, N. & Massoc, E. (2012). French Capitalism under Stress: How Nicolas Sarkozy Rescued the Banks. Review of International Political Economy, 19(4), 562–585. [Crossref] [Web of Science]

  • Mayntz, R. (ed.) (2012). Crisis and control. Institutional change in financial market regulation. Frankfurt/M: Campus.

  • Mizruchi, M. S. (2013). The fracturing of the American corporate elite. Cambridge, MA: Harvard University Press.

  • Moran, M. (1991). Politics of the financial services revolution: The U.S.A., U.K. and Japan. Palgrave-MacMillan.

  • Moran, M. (2002). Politics, banks, and financial market governance in the Euro-zone. In K. Dyson (Ed.), European States and the Euro (pp. 257–277). Oxford: Oxford University Press.

  • Pechberthy, M. (2010). Natixis. Enquête sur une faillite d’Etat. Paris: First editions.

  • Seabrooke, L. (2001). US power in international finance: The victory of dividends. London: Palgrave.

  • Slager, A. (2004). Banking across borders. Rotterdam: Erasmus Research Institute of Management.

  • Schmidt, V. A. (2003). French capitalism transformed, yet still a third variety of capitalism. Economy and Society, 32(4), 526–554. [Crossref]

  • Spiegel-Online. 18th of October 2008. Folgen der Finanzkrise: Deutsche Bank rückt von Renditeziel ab. Retrieved from http://www.spiegel.de/wirtschaft/folgen-der-finanzkrise-deutsche-bank-rueckt-von-renditeziel-ab-a-584925.html.

  • Streeck, W. (2010). Re-Forming Capitalism: Institutional Change in the German Political Economy. Oxford: Oxford University Press. [Web of Science]

  • Stolleis, M. (2012). Staats- und Verwaltungsrechtswissenschaft in West und Ost 1945–1990. München: Beck.

  • Thiemann, M. (2012a). Out of the shadows: Accounting for Special Purpose Entities in European Banking Systems. Dissertation Columbia University.

  • Thiemann, M. (2012b, February). Out of the shadows: Accounting for Special Purpose Entities in European Banking Systems. Competition and Change, 16(1), 37–55.

  • Thiemann, M. (2014). In the shadow of Basel-How competitive politics bred the crisis. Review of International Political Economy, 21(6), 1203–1239. [Crossref] [Web of Science]

  • Woll, C. (2014). The Power of Inaction − Bank Bailouts in Comparison. Ithaca, NY: Cornell University Press.

About the article

Published Online: 2016-01-12

Published in Print: 2016-03-01

Citation Information: Accounting, Economics and Law - A Convivium, ISSN (Online) 2152-2820, ISSN (Print) 2194-6051, DOI: https://doi.org/10.1515/ael-2015-0011. Export Citation

Comments (0)

Please log in or register to comment.
Log in