Financialization and the future of the American economy

"Financialization is a set of processes which has led to a financially-driven and commodified economy with rising inequality, tax avoidance, the lack of investment in the physical and social infrastructure. Given the influence of money politics, and the secular increase in the burden of debt, f...

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1. Verfasser: Tabb, William K. 1942- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: New York ; London Routledge, Taylor & Francis Group 2024
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Datensatz im Suchindex

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spelling Tabb, William K. 1942- Verfasser (DE-588)131812548 aut
Financialization and the future of the American economy William K. Tabb
New York ; London Routledge, Taylor & Francis Group 2024
1 Online-Ressource (204 Seiten)
txt rdacontent
c rdamedia
cr rdacarrier
Literaturangaben. - Index
"Financialization is a set of processes which has led to a financially-driven and commodified economy with rising inequality, tax avoidance, the lack of investment in the physical and social infrastructure. Given the influence of money politics, and the secular increase in the burden of debt, financialization has led to a deeply flawed economic system which mainstream economists are unable to address. This book discusses the causes and costs of financial crises, how financialization produces inequality and instability and the patterns of value extraction it enables. It draws on key theoretical traditions, most prominently the writing of Marx, Keynes, and Minsky that illuminate much that is ignored and rejected in mainstream theorizing, including by many who identify as Keynesians. After decades of low interest rates and years of quantitative easing keeping borrowing costs near zero, many borrowers - households, businesses, banks, shadow banks, and governments - will not be able to finance their debt at higher interest rates initiated by central banks to address inflation. The resulting stagflation will be global and will bring on a severe downturn that may be postponed through still greater debt creation, but not avoided by conventional means. The book also explores the ways that standard financial criteria contribute to the climate emergency and the manner in which the commodification of nature proceeds from the desire to create new marketable derivative products. It concludes with a discussion of what needs to be done to move away from a harmful regime of accumulation premised on financialization and to adopt a far better one. This book is essential reading for any interested in the causes and consequences of financialization and its impact on the economy"--
Wirtschaftsentwicklung (DE-588)4066438-7 gnd rswk-swf
Wirtschaftliche Lage (DE-588)4248362-1 gnd rswk-swf
USA (DE-588)4078704-7 gnd rswk-swf
Financialization / United States
United States / Economic conditions / 2009-
United States / Economic policy / 2009-
USA (DE-588)4078704-7 g
Wirtschaftliche Lage (DE-588)4248362-1 s
Wirtschaftsentwicklung (DE-588)4066438-7 s
DE-604
Erscheint auch als Druck-Ausgabe, Hardcover 978-1-032-47247-8 (DE-604)BV049336119
Erscheint auch als Druck-Ausgabe, Paperback 978-1-032-47246-1 (DE-604)BV049336119
https://doi.org/10.4324/9781003385240 Verlag URL des Erstveröffentlichers Volltext
spellingShingle Tabb, William K. 1942-
Financialization and the future of the American economy
Wirtschaftsentwicklung (DE-588)4066438-7 gnd
Wirtschaftliche Lage (DE-588)4248362-1 gnd
subject_GND (DE-588)4066438-7
(DE-588)4248362-1
(DE-588)4078704-7
title Financialization and the future of the American economy
title_auth Financialization and the future of the American economy
title_exact_search Financialization and the future of the American economy
title_full Financialization and the future of the American economy William K. Tabb
title_fullStr Financialization and the future of the American economy William K. Tabb
title_full_unstemmed Financialization and the future of the American economy William K. Tabb
title_short Financialization and the future of the American economy
title_sort financialization and the future of the american economy
topic Wirtschaftsentwicklung (DE-588)4066438-7 gnd
Wirtschaftliche Lage (DE-588)4248362-1 gnd
topic_facet Wirtschaftsentwicklung
Wirtschaftliche Lage
USA
url https://doi.org/10.4324/9781003385240
work_keys_str_mv AT tabbwilliamk financializationandthefutureoftheamericaneconomy