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Introduction: Neglecting, Rediscovering and Thinking Again about Power in Finance

  • Michael Moran and Anthony Payne

The articles in this special issue survey comparatively the shape of power and finance. The introduction sketches the history of the study of the political role of financial markets and examines the reasons for the comparative neglect of the subject by the discipline of political science.

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Michael Moran is Emeritus Professor of Government at the University of Manchester Business School. Contact email: Anthony Payne is Co-director of the Sheffield Political Economy Research Institute (SPERI) at the University of Sheffield. Contact email:

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Bailey, F.G. (1970), Strategems and Spoils: A Social Anthropology of Politics (New York: Schocken Book).
Bell, S. and Hindmoor, A. (2014), ‘The Ideational Shaping of State Power and Capacity: Winning Battles but Losing the War over Bank Reform in the US and UK’, Government and Opposition, 49(3): 342368.
Datz, G. (2014), ‘Varieties of Power in Latin American Pension Finance: Pension Fund Capitalism, Developmentalism and Statism’, Government and Opposition, 49(3): 483510.
Engelen, E., Ertürk, I., Froud, J., Johal, S., Leaver, A., Moran, M., Nilsson, A. and Williams, K. (2011), After the Great Complacence: Financial Crisis and the Politics of Reform (Oxford: Oxford University Press).
Germain, R.D. (1997), The International Organization of Credit: States and Global Finance in the World-Economy (Cambridge: Cambridge University Press).
Goodin, R. (2009), ‘The State of the Discipline, the Discipline of the State’, in R. Goodin (ed.), The Oxford Handbook of Political Science (Oxford: Oxford University Press): 357.
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Johal, S., Moran, M. and Williams, K. (2014), ‘Power, Politics and the City of London after the Great Financial Crash’, Government and Opposition, 49(3): 400425.
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Langley, P. (2008), The Everyday Life of Global Finance: Saving and Borrowing in Anglo-America (Oxford: Oxford University Press).
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Nesvetailova, A. (2014), ‘Innovations, Fragility and Complexity: Understanding the Power of Finance’, Government and Opposition, 49(3): 542568.
Pagoulatos, G. (2014), ‘State-driven in Boom and in Bust: Structural Limitations of Financial Power in Greece’, Government and Opposition, 49(3): 452482.
Panitch, L. and Gindin, S. (2014), ‘Political Economy and Political Power: The American State and Finance in the Neoliberal Era’, Government and Opposition, 49(3): 369399.
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Wright Mills, C. (1956), The Power Elite (New York: Oxford University Press).
Zhang, X. (2014), ‘Coalitional Dynamics, Power Structure and Financial Markets in East Asia’, Government and Opposition, 49(3): 511541.
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Government and Opposition
  • ISSN: 0017-257X
  • EISSN: 1477-7053
  • URL: /core/journals/government-and-opposition
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