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Books > Business & Economics > Economics > Financial crises & disasters
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Beyond Mainstream Explanations of the Financial Crisis - Parasitic Finance Capital (Paperback)
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Beyond Mainstream Explanations of the Financial Crisis - Parasitic Finance Capital (Paperback)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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This book provides a critique of the neoclassical explanations of
the 2008 financial collapse, of the ensuing long recession and of
the neoliberal austerity responses to it. The study argues that
while the prevailing views of deregulation and financialization as
instrumental culprits in the explosion and implosion of the
financial bubble are not false, they fail to point out that
financialization is essentially an indication of an advanced stage
of capitalist development. These standard explanations tend to
ignore the systemic dynamics of the accumulation of finance
capital, the inherent limits to that accumulation, production and
division of economic surplus, class relations, and the balance of
social forces that mold economic policy. Instead of simply blaming
the 'irrational behavior' of market players, as neoliberals do, or
lax public supervision, as Keynesians do, this book focuses on the
core dynamics of capitalist development that not only created the
financial bubble, but also fostered the 'irrational behavior' of
market players and subverted public policy. Due to its
interdisciplinary perspective, this book will be of interest to
students and researchers in economics, finance, politics and
sociology.
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