Description
Book SynopsisThe on-going economic crisis commenced in the sphere of finance, spread into production lines and quickly became a global recession. In Financialisation in Crisis, several well-known political economists draw on the insights of Marxist and other heterodox economics to argue that the turmoil of 2007-2009 represents a crisis of financialised capitalism, and is thus systemic and unusual. The book puts the crisis in its appropriate context, drawing on Marxist and other unorthodox economics to cast light on the broader implications of financialisation for society.
Table of ContentsList of Tables and Figures Introduction: A Crisis of Financialisation, Costas Lapavitsas PART I: DOMESTIC FINANCIALISATION AND THE ROOTS OF THE CRISIS 1. Financialised Capitalism: Crisis and Financial Expropriation, Costas Lapavitsas 2. The Political Economy of the Subprime Meltdown, Gary Dymski 3. On the Content of Banking in Contemporary Capitalism, Paulo L. Dos Santos 4. Central Banking in Contemporary Capitalism: The Limits of Monetary Policy, Demophanos Papadatos PART II: INTERNATIONAL FINANCIALISATION AND THE GLOBAL IMPACT OF THE CRISIS 5. On the Historical Significance and Social Costs of the Subprime Financial Crisis: A Comparison with Japan, Makoto Itoh 6. Oil and Finance in the Global Markets, Carlos Morera Camacho and José Antonio Rojas Nieto 7. Developing Countries in the Era of Financialisation: From Deficit Accumulation to Reserve Accumulation, Juan Pablo Painceira 8. Global Integration of Middle-Income Developing Countries in the Era of Financialisation: The Case of Turkey, Nuray Ergünes References Notes on Contributors Index
