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Political Economy of Financialization in the United States - A Historical-Institutional Balance-Sheet Approach (Hardcover)
Loot Price: R4,159
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Political Economy of Financialization in the United States - A Historical-Institutional Balance-Sheet Approach (Hardcover)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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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.
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