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The Economics of Financial Turbulence - Alternative Theories of Money and Finance (Hardcover)
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The Economics of Financial Turbulence - Alternative Theories of Money and Finance (Hardcover)
Series: New Directions in Modern Economics series
Expected to ship within 12 - 17 working days
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This challenging book examines the origins and dynamics of
financial-economic crises. Its wide theoretical scope incorporates
the theories of Marx, Keynes and various other Post Keynesian
scholars of endogenous money, and provides a grand synthesis of
these theoretical lineages, as well as a powerful critique of
prevailing neoclassical/monetarist theories of money. Bill
Lucarelli provides detailed historical analyses of the causes of
the current international financial crisis, and offers alternative
heterodox theories with more coherent and rigorous theoretical
frameworks than existing economic orthodoxies. He illustrates that
the very assumptions of neoclassical theory - informed by the
efficient markets hypothesis - tend to rule out the very
possibility of endogenous financial crises. Consequently, he
argues, the endogenous causes of these crises are either ignored or
simply treated as random, extraneous historical events. In stark
contrast to these neoclassical/monetarist views, this book seeks to
explain the recurrence of these financial crises as a result of the
inner workings of the capitalist system. The Economics of Financial
Turbulence will prove an invaluable contribution to modern
heterodox theories of endogenous money, and as such will be
essential reading for academics and students with an interest in
economics, heterodox economics and money, finance and banking.
Economic and financial policymakers will also find the book to be a
fascinating read. Contents: Introduction; Part I: Marxian
Perspectives; 1. A Monetary Theory of Production; 2. A Marxian
Theory of Money, Credit and Crisis; Part II: Heterodox Theories of
Endogenous Money; 3. Money and Keynesian Uncertainty; 4. Endogenous
Money: Heterodox Controversies; 5. Towards a Theory of Endogenous
Financial Instability and Debt-Deflation; Part III: The Roots of
the Current Crisis; 6. Financialization: Prelude to Crisis; 7.
Faustian Finance and the American Dream; Conclusion; Bibliography
General
Imprint: |
Edward Elgar Publishing Ltd
|
Country of origin: |
United Kingdom |
Series: |
New Directions in Modern Economics series |
Release date: |
March 2011 |
Authors: |
Bill Lucarelli
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Dimensions: |
216 x 138 x 19mm (L x W x T) |
Format: |
Hardcover
|
Pages: |
192 |
ISBN-13: |
978-1-84980-878-1 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
1-84980-878-3 |
Barcode: |
9781849808781 |
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