The End of Finance - Capital Market Inflation, Financial Derivatives and Pension Fund Capitalism (Hardcover)

This volume develops a critique of the belief that the present era of finance, where finance markets dominate contemporary capitalist economies, represents the best possible way of organizing economic affairs. In fact, it is argued, the ensuing economic instability and inefficiency create the preconditions for the end of the dominance of finance. The text develops a theory of capital market inflation rooted in the work of Veblen, Kalecki, Keynes and Minsky, demonstrating how it disinclines productive activity on the part of firms, provides only short-term conditions that are propitious for privatization and distorts monetary policy in the long-term. The author examines the role of pension fund schemes and financial derivatives in transmitting capital market inflation and provides a nuanced analysis of the contradictory role they play in the financial system. Capital market inflation is also examined in its historical context and compared with past inflations, in particular the South Sea and Mississippi Bubbles, which spawned the first financial derivatives, and the first privatizations. This broad historical vision allows us to see these forms of inflation as temporary and provisio

General

Imprint:	Routledge
Country of origin:	United Kingdom
Series:	Routledge Frontiers of Political Economy
Release date:	October 1999
First published:	2000
Authors:	Jan Toporowski
Dimensions:	234 x 156 x 12mm (L x W x T)
Format:	Hardcover
Pages:	176
ISBN-13:	978-0-415-20881-9
Categories:	Books > Business & Economics > Economics > Political economy Books > Business & Economics > Finance & accounting > Finance > Pensions Books > Money & Finance > Pensions Promotions
LSN:	0-415-20881-5
Barcode:	9780415208819

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