A Reflection on the documentary “Inside Job” by Charles Ferguson Understanding the financial crisis of 2008 from the Theory of Accounting and Regulation
DOI:
https://doi.org/10.21501/2500-669X.2320Keywords:
Accounting Theory, financial crisis, accounting regulation, economic globalization.Abstract
The current reflection emerges from the pedagogical motivation to interpret real phenomena of the global economy, such as the 2008 crisis, from theoretical benchmarks like those by Macintosh (2000), elements of the Onion Model Reality Mattessich (2003) and specific aspects of the Regulation Theory (Mitnick, 2002). We want to find an approach from these theoretical constructs, socialized on high-impact journals to students of Accounting Sciences, so that they relate their great academic potential. The paper starts by revealing the conditions that led to the crisis, according to Inside Job documentary, where phenomena such as deregulation of the financial economy are showed up, and the capture of the political system. Subsequently, it is addressed how through “falsification” of the reality allowed by accounting signs, according to Macintosh, the institutional conditions previously described for the creation of debt instruments are exploited. Finally, some consequences that derived from the well-known crisis are stated, in order to close with some lessons.Downloads
References
Bolsa de Valores de Colombia. (2008). Derivados Financieros (en línea). Recuperado de http://www.bvc.com.co/pps/tibco/portalbvc/Home/Mercados/descripciongeneral/derivados?action=dummy
BusinessDictionary.com. (2017). Chief executive officer. Obtenido de http://www.businessdictionary.com/definition/chief-executive-officer-CEO.html
Ferguson, Ch. (Productor y Director). (2010). Inside Job [Película]. Estados Unidos: Charles Ferguson Audrey Marrs productores.
Macintosh, N. (2000). Accounting as simulacrum and hyperreality: perspectives on income and capital. Accounting, Organization and society, (25) 13-50.
Mattessich, R. (2003). La Representación Contable y el Modelo de Capas-Cebolla de la Realidad: Una Comparación con las `Ordenes de Simulacro’ de Baudrillard y su Hiperrealidad (en línea). AECA Monografía Especial.
Mitnick, B. (2002). La economía política de la regulación. Méjico Fondo de la Cultura Económica.
Muñoz Restrepo, C. (2014). La relación de referencia y el signo contable. II Encuentro Nacional de Pensamiento Contable Universidad de Manizales.
Raghuram G. Rajan, 2005. “ ¿El desarrollo financiero ha hecho que el mundo sea más riesgoso? “, Proceedings–Economic Policy Symposium–Jackson Hole , Banco de la Reserva Federal de Kansas City, edición Aug, páginas 313-369.
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