Entries by Martin Sokol

GEOFIN Blog #18 – Central banks should be fighting the climate crisis – here’s why (by Martin Sokol and Jennie. C. Stephens)

Central banks should be fighting the climate crisis – here’s why Martin Sokol, Trinity College Dublin and Jennie C. Stephens, Northeastern University Climate finance was a major focus at the recent COP28 summit, but one set of game-changing institutions remains largely missing in such conversations: central banks. Central banks are public institutions, charged with maintaining economic […]

GEOFIN Blog #17 – Why the Fed should treat climate change’s $150B economic toll like other national crises it’s helped fight (by Jennie C. Stephens and Martin Sokol)

Climate disasters are now costing the United States US$150 billion per year, and the economic harm is rising. The real estate market has been disrupted, as home insurance rates skyrocket as wildfire and flood risks rise with the warming climate. Food prices have gone up with disruptions in agriculture. Health care costs have increased as […]

GEOFIN Blog #16 – Central banks, the climate crisis and the need for a ‘creative disruption’ (by Martin Sokol and Jennie C. Stephens)

How should central banks respond to the worsening climate crisis that threatens to destabilise the economy and society? As climate disruptions become more frequent and intense, it seems clear that changes in central banks and their monetary policies are urgently needed. One bold, innovative approach is for central banks to create an intentional disruption of […]

GEOFIN Blog #9 – From a pandemic to a global financial meltdown? Preliminary thoughts on the economic consequences of Covid-19 (by Martin Sokol)

While fighting against Covid-19 continues and saving lives must remain the priority right now, some unavoidable questions are starting to bite: What will be the economic consequences of the pandemic? Are we heading for a wide-spread economic collapse? Is a global financial meltdown coming? In the current fast-evolving situation, with global infections and death toll […]

GEOFIN Blog #1 – What is GEOFIN about? (by Martin Sokol)

GEOFIN is a 5-year research project funded by the European Research Council (ERC) and titled “Western Banks in Eastern Europe: New Geographies of Financialisation”. As its name suggests, the project is concerned with ‘financialisation’ – a process that can be described simply as a growing power of finance over societies and economies. Financialisation is increasingly […]