98 research outputs found

    The Role of the State in the Financialisation of the UK Economy

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    This article looks at the role of UK governments in the financialisation of the British economy and its industry. It argues two things. First, the UK state has had a rather more active role here than most observers have acknowledged. Successive governments since the 1970s have not merely abandoned industry, they have handed much of its control to the financial sector. Second, a key part of this policy shift was linked to the rising power of the Treasury and its reshaping of the former Department of Trade and Industry in its own ideal economic policy image. This both boosted the City and disadvantaged industry, thus propelling the UK towards financialisation at a faster pace than almost all rival economies. The arguments are based on evidence from a mix of interviews with central actors, published insider accounts and an analysis of budget statements in the period 1976–2010

    A Factor Graph Nested Effects Model To Identify Networks from Genetic Perturbations

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    Complex phenotypes such as the transformation of a normal population of cells into cancerous tissue result from a series of molecular triggers gone awry. We describe a method that searches for a genetic network consistent with expression changes observed under the knock-down of a set of genes that share a common role in the cell, such as a disease phenotype. The method extends the Nested Effects Model of Markowetz et al. (2005) by using a probabilistic factor graph to search for a network representing interactions among these silenced genes. The method also expands the network by attaching new genes at specific downstream points, providing candidates for subsequent perturbations to further characterize the pathway. We investigated an extension provided by the factor graph approach in which the model distinguishes between inhibitory and stimulatory interactions. We found that the extension yielded significant improvements in recovering the structure of simulated and Saccharomyces cerevisae networks. We applied the approach to discover a signaling network among genes involved in a human colon cancer cell invasiveness pathway. The method predicts several genes with new roles in the invasiveness process. We knocked down two genes identified by our approach and found that both knock-downs produce loss of invasive potential in a colon cancer cell line. Nested effects models may be a powerful tool for inferring regulatory connections and genes that operate in normal and disease-related processes

    The financialisation of housing land supply in England

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    The aim of this article is to identify the calculative practices that turn urban development planning into the supply-side of land financialisation. My focus is on the statutory planning of housing supply and the accounting procedures, or market devices, that normalise the practices of land speculation in the earliest stage of the urban development process. I provide an analysis of the accountancy regime used by planning authorities in England to evidence a 5-year supply of housing land. Drawing on the work of Michel Callon on market framing, I assess the activities of economic agents in performing or ‘formatting’ this supply, its boundaries, externalities and rules of operation. I evidence the effect of this formatting in normalising the treatment of land as a financial asset and in orienting the statutory regulation of land supply to the provision of opportunities for the capture of increased ground rent at a cost to the delivery of new homes

    Whatever happened to compassionate Conservatism under the Coalition government?

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    Following David Cameron’s election as leader of the Conservative Party in late 2005, a series of initiatives suggested that he was seeking to reposition the Conservative Party, or perhaps to introduce some new thinking to the Party and to align it with interests and issues that it had not been linked with since at least the start of the Thatcher period. At the time, views among commentators varied about whether this was a genuine attempt to change the Conservative Party, including through a more compassionate approach to some social groups and problems, or whether it was simply designed to ‘detoxify’ the Party and to make it electable once more. However, many observers were unconvinced that the five years of the Coalition government saw significant evidence of the ‘compassionate’ ideas that Cameron and others sought to highlight prior to the 2010 general election. This article explores a number of possible reasons for the apparent disappearance of compassionate Conservatism in relation to social policies under the Coalition government. It suggests that rather than any one explanation, drawing upon a number of interpretations may provide the best understanding of the role and impact of compassionate Conservative ideas from 2010 to 2015
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