Description
Book SynopsisThe authors show that, despite free market platitudes, neoliberalism was a planned effort by financial interests against the postwar Keynesian compromise, and the cluster of neoliberal policies is an expression of the power of finance in the world economy. The authors call for stabilizing the world economy to avert economic disaster.
Trade ReviewThis remarkable book offers a closely argued and persuasive interpretation of the political economy of Europe and the U.S. from 1970 to the present, based on a much wider discussion ranging in time from the late 19th century, and touching on the history of the industrializing countries of Asia and Latin America. The interpretation of contemporary political economy offers fresh and challenging perspectives to the ongoing debate about world economic policy. -- Duncan K. Foley, The New School for Social Research
Table of ContentsIntroduction Part I. Crisis and Neoliberalism 1. The Strange Dynamics of Change 2. Economic Crises and Social Orders Part II. Crisis and Unemployment 3. The Structural Crisis of the 1970s and 1980s 4. Technical Progress: Accelerating or Slowing? 5. America and Europe: The Creator of Jobs and the Creator of Unemployment 6. Controlling Labor Costs and Reining in the Welfare State 7. Unemployment: Historical Fate? 8. The End of the Crisis? Part III. The Law of Finance 9. The Interest Rate Shock and the Weight of Dividends 10. Keynesian State Indebtedness and Household Indebtedness 11. An Epidemic of Financial Crises 12. Globalization under Hegemony 13. Financialization: Myth or Reality? 14. Does Finance Feed the Economy? 15. Who Benefits from the Crime? Part IV. The Lessons of History 16. Historical Precedent: The Crisis at the End of the Nineteenth Century 17. The End of the Structural Crises: Does the Twentieth Century Resemble the Nineteenth? 18. Two Periods of Financial Hegemony: The Beginning and the End of the Twentieth Century 19. Inherent Risks: The 1929 Precedent 20. Capital Mobility and Stock Market Fever 21. Between Two Periods of Financial Hegemony: Thirty Years of Prosperity Part V. History on the March 22. A Keynesian Interpretation 23. The Dynamics of Capital Appendix A. Other Studies by the Authors Appendix B. Sources and Calculations Notes Index
