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AbstractThis article will explore the geographical origins of Residential Mortgage Backed Securitization (RMBS) in the United States and map the subsequent migration of RMBS, as idea, technology and investment vehicle, to the United Kingdom and other nation‐states during the 1990s. It will illustrate how RMBS was used as a medium to circulate capital and construct urban space, and seek to interpret the development of RMBS and the contemporary credit crisis in the UK through a series of historical, political and sociological lenses. It argues that, despite travelling across the globe, this financial innovation has maintained a spatial sensitivity since the idea of securitization has been embodied and (re)interpreted in specific spaces to comply with local economic, political and social institutions. It also argues that this is an important primer to understanding the 'credit crunch' of 2007 and its repercussions. The article focuses particularly on how the current significance of securitization and RMBS can be traced back to the 'Big Bang' and the wider processes of the competitive re‐regulation of the City of London and the British financial system more generally during the mid‐1980s. It shows the differential evolution of securitization in the UK and US, and in so doing argues that such spatial variations have left different financial institutions in the two economies exposed to different forms of credit and market risk.Résumé Cet article revient sur les origines géographiques de la titrisation adossée à des crédits hypothécaires au logement (RMBS) aux États‐Unis, puis cartographie la migration ultérieure de cette titrisation, en tant que concept, technologie et véhicule d'investissement, vers le Royaume‐Uni et d'autres États‐nations, au cours des années 1990. Après avoir montré comment les titres RMBS ont servi de support pour faire circuler les capitaux et construire l'espace urbain, il expliquera l'évolution des RMBS et de la crise du crédit contemporaine au Royaume‐Uni selon plusieurs angles (historique, politique et sociologique). Malgré sa migration planétaire, cette innovation financière a conservé une sensibilité spatiale, l'idée de titrisation ayant été concrétisée et (ré)interprétée dans des espaces particuliers en adéquation avec des institutions économiques, politiques et sociales locales. Ce point est important pour comprendre le 'resserrement du crédit' de 2007 et ses répercussions. Toutefois, on peut déterminer que l'importance actuelle de la titrisation et des RMBS est due au 'Big Bang' et aux vastes processus de rerégulation par la concurrence de la City de Londres et, de façon plus générale, du système financier britannique au milieu des années 1980. On constate des divergences d'évolution de la titrisation entre Royaume‐Uni et États‐Unis, ces variations exposant différentes institutions financières des deux économies à différentes formes de risques liés au crédit et au marché.

Scholars have drawn attention to educational spaces as sites of contestation and struggle. Researchers have increasingly scrutinised the power structures and relations that shape educational spaces, particularly in the mobilisation of education to further the economic competitiveness of nation-states. Adopting a dispositif lens, our ethnographic study examines digital business education in a North Korean university. In doing so, we uncover the unstable interplay between a dispositif of paternalist care and a dispositif of discipline, which are both required by the regime to control the development of new digital capabilities, examining the techniques used to develop and restrict digital education. In conclusion, our paper develops new understanding of how digital capabilities, through education, are simultaneously enabled and constrained, and how dispositifs differentially unfold across space.

The recent geographies of education literature has drawn attention to the role of elite business education in circulating new ideas. Our paper presents an ethnography based in North Korea to examine the introduction of an international business education for young generations of North Korean elites ('donjus'). Drawing on extant literatures on translation, our study shows how the translation of entrepreneurial ideas between market-orientated economies and North Korea's political economy creates different legitimacy tensions within teaching space, and how those tensions are managed to help translate ideas, making them relevant for the local economy. In conclusion, we introduce new understanding of how business schools function as a hub of idea translation and foster the (re-)production of economic elites in an institutional space where commercial entrepreneurship is still illegal.