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The Handbook of the Political Economy of Financial Crises (Paperback)
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The Handbook of the Political Economy of Financial Crises (Paperback)
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The Great Financial Crisis that began in 2007 reminds us with
devastating force that financial instability and crises are endemic
to capitalist economies, and that it is only strong and
dynamically-changing financial regulations that can keep the damage
caused by these crises within bounds. The international financial
system and individual national economies, including that of the
United States, are suffering from the aftermath of the worst
financial crisis since the Great Depression. Economists are
struggling to understand the origins and implications of the
crisis. The Handbook of the Political Economy of Financial Crises
uses a political economy theoretical framework to analyze the
crisis. After an opening chapter that describes the dimensions of
the current crisis, the next section provides relevant theoretical
frameworks. Subsequent sections apply these theoretical frameworks
to analyze the background, dimensions, and implications of the
crisis for the world economy. Leading scholars push forward our
understanding of how and why our international and domestic
economies are susceptible to financial breakdown and what can be
done to mitigate this problem in the future. The methodology
throughout applies theoretical concepts in the context of an
historical and institutional understanding of the real world. By
emphasizing the historical and institutional aspects of financial
crises, the authors advance economic knowledge and provide insights
into how we can manage our financial system to improve the lives of
ordinary people.
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