Synopses & Reviews
Research economists explore and review the literature on the long-runtransition towards finance-dominated capitalism and the implications for macroeconomic and financial stability--particularly for therecent global financial and economic crises. These recent crises indicate the demise of finance dominated capitalism, they argue, notin the sense that it will vanish, but that in the future it will not be able to generate sustainable high growth rates in the maturecapitalist economies. Among the topics are an overview of theories of financial crises as cumulative processes, five explanations forthe international financial crisis, and financial deregulation and the 2007-08 US financial crisis.Annotation ©2015 Ringgold, Inc., Portland, OR (protoview.com)
This book provides an overview of different theoretical perspectives on the long-run transition towards finance-dominated capitalism, on the implications for macroeconomic and financial stability, and ultimately on the recent global financial and economic crisis. In the first part, the macroeconomics of finance-dominated capitalism, the theories of financial crisis and important past crises are reviewed. The second part deals with the 2007-09 financial and economic crisis in particular. The special focus is on the long-run problems and inconsistencies of finance-dominated capitalism which played a key role in the crisis and its level of severity.