However, because they have tended to see the economy as a sphere of circulation, they have tended to see the threat to the economy in the banks' inability or unwillingness to provide the credit needed to keep the circulation of goods, services, and money going. Or they have turned the financial crisis into a sovereign debt crisis, as responsibility for the financial instability has been shifted from banks and financial institutions to governments having trouble making payments on their foreign debts, such as Greece, or with growing fiscal deficits, such as the UK. Never mind that these deficits have been exacerbated by the recession and by providing public or state guarantees for private investors in failed banks. The point is that as the problems of financial crisis are defined in terms of the liquidity needed for sustaining the circulation of commodities, the solutions focus on the institutions such as banks and government that affect that liquidity. Thus the arena for political computation is circumscribed by the debates about the effectiveness of these policies. Other discourse, indeed other voices, simply cannot be heard in these circles. But this doesn't mean other voices aren't speaking and disputing this way of framing the problems of financial crisis. As our short discussion of the Royal Society for the Encouragement of Arts, Manufacturers, and Commerce's (RSA) animation of David Harvey's explanation in the next section will show even more clearly, disagreement and computation that perceive the problems differently can come from unexpected directions. The actions of people not in these 'higher' circles of action and decision, which are focused on restoring liquidity as a solution to the crisis, appears as efforts to politicize finance. A few notable examples illustrate this.
However, because they have tended to see the economy as a sphere of circulation, they have tended to see the threat to the economy in the banks' inability or unwillingness to provide the credit needed to keep the circulation of goods, services, and money going. Or they have turned the financial crisis into a sovereign debt crisis, as responsibility for the financial instability has been shifted from banks and financial institutions to governments having trouble making payments on their foreign debts, such as Greece, or with growing fiscal deficits, such as the UK. Never mind that these deficits have been exacerbated by the recession and by providing public or state guarantees for private investors in failed banks. The point is that as the problems of financial crisis are defined in terms of the liquidity needed for sustaining the circulation of commodities, the solutions focus on the institutions such as banks and government that affect that liquidity. Thus the arena for political computation is circumscribed by the debates about the effectiveness of these policies. Other discourse, indeed other voices, simply cannot be heard in these circles. But this doesn't mean other voices aren't speaking and disputing this way of framing the problems of financial crisis. As our short discussion of the Royal Society for the Encouragement of Arts, Manufacturers, and Commerce's (RSA) animation of David Harvey's explanation in the next section will show even more clearly, disagreement and computation that perceive the problems differently can come from unexpected directions. The actions of people not in these 'higher' circles of action and decision, which are focused on restoring liquidity as a solution to the crisis, appears as efforts to politicize finance. A few notable examples illustrate this.
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