After the Financial Crisis : Shifting Legal, Economic and Political Paradigms

This international collection studies how the financial crisis of 2007 and the ensuing economicand political crises in Europe and North America have triggered a process ofchange in the field of economics, law andpolitics. Contributors to this book argue that both elites and citizens havehad to rethink the nature of the market, the role of the state as a marketregulator and as a provider of welfare, the role of political parties inrepresenting society''s main political and social cleavages, the role of civilsociety in voicing the concerns of citizens, and the role of the citizen as theultimate source of power in a democracy but also as a fundamentally powerlesssubject in a global economy.

The book studies the actors, the areas and the processesthat have carried forward the change and proposes the notion of ''incompleteparadigm shift'' to analyse this change. Its authors explore the multipledimensions of paradigm shifts and their differentiated evolution, arguing thattoday we witness an incomplete paradigm shift of financial regulations,economic models and welfare systems, but a stillbirth of a new political andeconomic paradigm.