Download or read book Financialization and the World Economy written by Gerald A. Epstein and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: The final section offers ideas for policy responses, including capital controls and securities transaction taxes."--BOOK JACKET.
Download or read book The Financialization of Housing written by Manuel B. Aalbers and published by Routledge. This book was released on 2016-05-05 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.
Download or read book Financialization and the Economy written by Agata Gemzik-Salwach and published by Taylor & Francis. This book was released on 2017-07-14 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: There can be no doubt that the influence of the financial sphere has intensified rapidly in recent years, but there is much debate about the effect of that influence. The aftermath of the Financial Crisis has led to numerous discussions of the phenomenon of so-called financialization: the increasing impact of financial institutions on the activity of all business entities; emerging threats related with dynamically developing financial markets and the growing importance of financial themes. In light of these issues, which appear in all economies and touch all entities and every area of economic activity, there is a need for a summary and evaluation of the role of financialization in the world today. This monograph presents the role of financialization in the modern world. It shows positive as well as negative effects of financialization on the stability of the whole economy, the functioning of different types of markets, activity of enterprises, state institutions and behaviours of households. Written by expert contributors, this book plays an important role in the debate concerning future directions of development of the financial sector and financial markets. Financialization and the Economy is of great importance to those who study political economy, macroeconomics and banking.
Download or read book Financialization of the Economy Business and Household Inequality in the United States written by Kurt Mettenheim and published by Routledge. This book was released on 2021-11-17 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second volume on the political and social economy of financialization in the US focuses on the consequences of the rise of finance for the American macroeconomy, household inequality, and the management of nonfinancial business enterprises. A historical–institutional balance-sheet approach to long-term trends and recent change in the US reveals a series of anomalies and provisos for critical, heterodox, and mainstream economic approaches and provides new perspectives on debates about political economic change in advanced economies since the 2007–2008 financial crisis. This book marks a significant contribution to the literature on financialization and studies in social economics, household economics, the structure and management of nonfinancial business enterprises, and American political economy.
Download or read book Financialization written by T. Palley and published by Springer. This book was released on 2016-04-30 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term financialization is a term that has become popular to describe developments within the global economy, and particularly within developed industrialized economies, over the past thirty years. The book is divided into four sections, which together give a comprehensive treatment of the economics and political economy of financialization.
Download or read book Makers and Takers written by Rana Foroohar and published by Currency. This book was released on 2017-09-12 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is Wall Street bad for Main Street America? "A well-told exploration of why our current economy is leaving too many behind." —The New York Times In looking at the forces that shaped the 2016 presidential election, one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum. A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the “financialization of America”—the phenomenon by which finance and its way of thinking have come to dominate every corner of business—is threatening the American Dream. Now updated with new material explaining how our corrupted financial system propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to forty years of bad policy decisions, she shows why so many Americans have lost trust in the system, and why it matters urgently to us all. Through colorful stories of both “Takers,” those stifling job creation while lining their own pockets, and “Makers,” businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward.
Download or read book Political Economy of Financialization in the United States written by Kurt Mettenheim and published by Routledge. This book was released on 2021-09-23 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining balance sheet analysis with historical institutional analysis, this book traces the evolution of social sector financial balance sheets in the US from 1960 to 2018. This innovative historical-institutional approach, ranging from the micro level of households to the macro level of the federal government, reveals that the displacement of households by banks has been a long-term process. This gradual compounding of financialization is at odds with widely accepted views about financialization, contemporary banking theory, financial intermediation theory, and post-Keynesian and endogenous money approaches. The book returns to time-tested traditional principles of banking and taps unexpected affinities about market failures in transaction cost economics, financial intermediation theory, and core ideas in classic modern political and social economy about economic moralities and social reactions of self-defense against unfettered markets. This book provides an alternative explanation for the rise of finance and new ways to think about averting financialization and its devastating consequences. This book marks a significant contribution to the literature on financialization, social economics, banking, and the American political economy.
Download or read book Leveraged written by Moritz Schularick and published by University of Chicago Press. This book was released on 2022-12-13 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative guide to the new economics of our crisis-filled century. Published in collaboration with the Institute for New Economic Thinking. The 2008 financial crisis was a seismic event that laid bare how financial institutions’ instabilities can have devastating effects on societies and economies. COVID-19 brought similar financial devastation at the beginning of 2020 and once more massive interventions by central banks were needed to heed off the collapse of the financial system. All of which begs the question: why is our financial system so fragile and vulnerable that it needs government support so often? For a generation of economists who have risen to prominence since 2008, these events have defined not only how they view financial instability, but financial markets more broadly. Leveraged brings together these voices to take stock of what we have learned about the costs and causes of financial fragility and to offer a new canonical framework for understanding it. Their message: the origins of financial instability in modern economies run deeper than the technical debates around banking regulation, countercyclical capital buffers, or living wills for financial institutions. Leveraged offers a fundamentally new picture of how financial institutions and societies coexist, for better or worse. The essays here mark a new starting point for research in financial economics. As we muddle through the effects of a second financial crisis in this young century, Leveraged provides a road map and a research agenda for the future.
Download or read book The Financialization of GDP written by Jacob Assa and published by Taylor & Francis. This book was released on 2016-08-12 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gross Domestic Product (GDP) and other statistics based on national income accounting are ubiquitous but rarely understood today. GDP has been criticized for many reasons, including not reflecting well-being, leaving out the costs of environmental pollution, and not counting unpaid work, but on purely economic terms it has been mostly accepted as an indicator of economic performance. In recent decades, however, GDP has diverged dramatically from economic trends such as employment and median income. This book argues that GDP is flawed even as a narrow economic indicator, and traces the problem to the way financial services are measured. The first part of the book is a political history of the practice of national accounting from its beginning in the mid-17th century to present day, and explores how such income estimates were constructed for political reasons. The Financialization of GDP presents the practice of estimating national income as a historically and political contingent craft - driven by power and not only theory - culminating in the rise of the financial sector and the concomitant inclusion of financial services in GDP in 1993.. The second part of the book focuses on the treatment of financial services in national accounting and develops an adjusted measure of output (Final Domestic Product or FDP) – which treats financial revenues as intermediate inputs (or costs) to the economy as a whole. The final part of the book explores the empirical and policy implications of treating finance as an overall cost to the economy. This volume shows that the Great Moderation of volatility was a statistical artefact; Okun’s Law (relating changes in output and unemployment) never died, and even provides early signs for the Great Recession which analysts using standard GDP did not see. This book is of great interest to those who study political economy and macroeconomics.
Download or read book The American Economy written by Kim Masters Evans and published by Information Plus. This book was released on 2007 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A compilation of current and historical statistics with analysis on the American economy, including a comprehensive summary of up-to-date research on the topic. Data are compiled from reports generated by branches of the U.S. government, information collected by major independent polling organizations and authoritative associations, and from professional journals, newspapers, pamphlets, and other reliable sources related to the subject."--Thomson Gale description
Download or read book Financialization and the US Economy written by È Orhangazi and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Profound transformations have taken place both in the US and the global economy, most especially in the realm of finance. This title brings together a comprehensive analysis of financialization in the US economy that encompasses historical, theoretical, and empirical sides of the issues.
Download or read book Financialization and the World Economy written by Gerald A. Epstein and published by Edward Elgar Publishing. This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financialization, described in the 17 papers collected here as the awareness of increasing importance of financial markets, institutions and motives in the world economy, can be expressed both quantitatively and qualitatively to find its costs and benefits to developing and developed nations. The contributors describe the neoliberalism of financi
Download or read book The New Oxford Handbook of Economic Geography written by Dariusz Wójcik and published by Oxford University Press. This book was released on 2018-01-04 with total page 1145 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first fifteen years of the 21st century have thrown into sharp relief the challenges of growth, equity, stability, and sustainability facing the world economy. In addition, they have exposed the inadequacies of mainstream economics in providing answers to these challenges. This volume gathers over 50 leading scholars from around the world to offer a forward-looking perspective of economic geography to understanding the various building blocks, relationships, and trajectories in the world economy. The perspective is at the same time grounded in theory and in the experiences of particular places. Reviewing state-of-the-art of economic geography, setting agendas, and with illustrations and empirical evidence from all over the world, the book should be an essential reference for students, researchers, as well as strategists and policy makers. Building on the success of the first edition, this volume offers a radically revised, updated, and broader approach to economic geography. With the backdrop of the global financial crisis, finance is investigated in chapters on financial stability, financial innovation, global financial networks, the global map of savings and investments, and financialization. Environmental challenges are addressed in chapters on resource economies, vulnerability of regions to climate change, carbon markets, and energy transitions. Distribution and consumption feature alongside more established topics on the firm, innovation, and work. The handbook also captures the theoretical and conceptual innovations of the last fifteen years, including evolutionary economic geography and the global production networks approach. Addressing the dangers of inequality, instability, and environmental crisis head-on, the volume concludes with strategies for growth and new ways of envisioning the spatiality of economy for the future.
Download or read book The Routledge International Handbook of Financialization written by Philip Mader and published by Routledge. This book was released on 2020-02-05 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financialization has become the go-to term for scholars grappling with the growth of finance. This Handbook offers the first comprehensive survey of the scholarship on financialization, connecting finance with changes in politics, technology, culture, society and the economy. It takes stock of the diverse avenues of research that comprise financialization studies and the contributions they have made to understanding the changes in contemporary societies driven by the rise of finance. The chapters chart the field’s evolution from research describing and critiquing the manifestations of financialization towards scholarship that pinpoints the driving forces, mechanisms and boundaries of financialization. Written for researchers and students not only in economics but from across the social sciences and the humanities, this book offers a decidedly global and pluri-disciplinary view on financialization for those who are looking to understand the changing face of finance and its consequences.
Download or read book Cultures of Financialization written by M. Haiven and published by Springer. This book was released on 2014-10-10 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on a wide range of case studies, Cultures of Financialization argues that, in our age of crisis, the global economy is more invested than ever in culture and the imagination. We must take the idea of 'fictitious capital' seriously as a way to understand the power of finance, and what might be done to stop it.
Download or read book Capitalizing on Crisis written by Greta R. Krippner and published by Harvard University Press. This book was released on 2011-02-15 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the context of the recent financial crisis, the extent to which the U.S. economy has become dependent on financial activities has been made abundantly clear. In Capitalizing on Crisis, Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.S. economy than is suggested by the current preoccupation with financial speculation. Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state’s attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979. Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.
Download or read book Faith Finance and Economy written by Tanweer Akram and published by Springer Nature. This book was released on 2020-03-10 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book seeks to foster a multidisciplinary understanding of the ties between faith, financial intermediation, and economic progress by drawing on research across economics, finance, history, philosophy, ethics, theology, public policy, law, and other disciplines. Chapters in this edited volume examine themes as consequential as economic opportunities, real world outcomes and faith; values and consumerism; faith, financial intermediation and economic development in Western and Islamic societies; and the impact of faith issues on US workers, on the workplace and religion, and on the characteristics of good wealth. Though engaging with difficult questions, this book is written in an accessible style to be enjoyed by laypeople and scholars alike.
