Janine Wedel - Behind the Scenes of International Banking Regulation

 

Five years into the Great Recession, discussion and political fights continue about the right approach to international banking supervision. How to avert the next financial crisis or at the very least lessen its damage?

Given the topic's importance, surprising little research exists on the two institutions that actually set banking standards in practice: the Basel Committee and the International Swaps and Derivatives Association (ISDA) operate at the heart of the system, setting capital requirements and standardizing derivative contracts.

Janine Wedel, Professor in the School of Public Policy at George Mason University, sets out to fill this gap. Her research takes an anthropological approach to examine the inner workings of these critical institutions. Through fieldwork and interviews, she paints a picture of informal practices and social networks that permeate international finance -- an investigation into how real banking regulation is done.

 

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In my opinion Prof. Wedel's addition to the INET team has been the most important and most significant of its history to date. Current economics cannot be understood without majorly considering the power and influence of Shadow Elites and how they operate. Thank you INET for taking economics to the next level:

TEDxBerlin 11/15/10 - Janine Wedel - Shadow Elites

Video link: https://www.youtube.com/watch?v=SiXGcEpI-sI

'' Uploaded on Dec 7, 2010

Janine R. Wedel writes about power, influence, and governing through the unique lens of a social anthropologist. A professor in the School of Public Policy at George Mason University and senior research fellow at the New America Foundation, Wedel is the first anthropologist to win the Grawemeyer Award for Ideas Improving World Order.

Her new book Shadow Elite: How the World's New Power Brokers Undermine Democracy, Government, and the Free Market (Basic Books 2009) was named Book of the Month by The Huffington Post in January.

Wedel has contributed congressional testimony and articles and opinion pieces to more than a dozen major outlets, including The New York Times, The Financial Times, The Washington Post, The Wall Street Journal Europe. She writes a featured weekly shadow elite column in The Huffington Post.

Wedel developed and directs the initiative on Outsourcing National Security at the New America Foundation. She is co-founder and convener of the Interest Group for the Anthropology of Public Policy (IGAPP).

She received a B.A. from Bethel College, an M.A. from Indiana University, and a Ph.D. from the University of California, Berkeley.''

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