SHC Post-doctoral Fellow, 2017-2019
Onur is currently working on a book manuscript entitled Fractals of Governance: Governing Systemic Risk at the Limits of Neoliberalism, 1922-2010. This work examines the emergence of systemic risk in finance to explain the transformation of macroeconomic governance and the state in the United States since the New Deal. Using the archives of government agencies, papers of influential policy-oriented economists, and the reports of government commissions that set the agenda for policymaking, this book shows that systemic risk is both an old and a new problem. It is old because it points to the tendency in capitalist economies to generate inter-sectoral imbalances that periodically trigger economic collapse. Its contemporary conception as a financial imbalance, however, is novel because the efforts to govern economic instability through monetary government from the Federal Reserve in the 1970s mapped such imbalances onto a new object-domain, the monetary economy, in the 1970s. This reframing construed systemic risk as a new feedback loop between the financial system and the economy, transforming catastrophic disruptions in short-term interbank lending markets, such as the money and capital markets, into depressions. The book further argues that the ascendance of new systemic risk regulation regimes after the global financial crisis marks the decisive transition in the history of macroeconomic governance as this new these regimes equip monetary governance with the systemic central planning tools that were abandoned with the demise of the New Deal. Systemic risk regulation, thus, rearticulates monetary governance in a systemic mode so that the Federal Reserve can continue to govern systemic risk, and the economy, at a distance without intervening in its messy, internal dynamics.
Onur teaches two courses in the Department of Sociology and Science in Human Culture."Sociology of Expertise: Experts & Society" (Winter) examines how experts and expert-knowlege shape poiltics, power and subjectively in modern societies. "Economists and the Construction of the Economy" explores the ways in which economists not only theorized but also built the ntaional and global economies in the 20th century.