- Paperback: 456 pages
- Publisher: Edward Elgar Publishing (November 27, 2006)
- Language: English
- ISBN-10: 1845429656
- ISBN-13: 978-1845429652
- Product Dimensions: 6.2 x 1 x 9.2 inches
- Shipping Weight: 1.5 pounds (View shipping rates and policies)
- Average Customer Review: 2 customer reviews
- Amazon Best Sellers Rank: #2,115,049 in Books (See Top 100 in Books)
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Financialization and the World Economy
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. . . the book's combination of breadth and depth suggests it will remain a standard work for heterodox students for some time. It quite correctly puts financialization at the center of the political economy of our time. I highly recommend Financialization and the World Economy to scholars in the field.' -- William K. Tabb, Queens College, CUNY, US `We are all acutely aware of the increasing role in economic life of financial markets, institutions and operations and the pursuit of financial rewards, that is financialization. This book helps us to understand this dominant feature of neo-liberalism by examining the distributional implications, the effects of financialization on the US economy, international dimensions and monetary system, financial crises and policy responses. The breadth and depth of the analyses in this book will make it a most important contribution to the awareness of the problems raised by financialization and to the development of policy responses.' -- Malcolm Sawyer, University of Leeds, UK `This is a valuable collection of articles on financial globalisation from leading unorthodox economists. Edward Elgar are to be commended for bringing together these diverse writings in one volume. This will surely become a standard reference on the subject, even for those with orthodox perspectives.' -- Ajit Singh, University of Cambridge, UK `One of the most important economic developments of the last quarter century has been the growth of the financial sector. In almost every country there has been a large increase in the share of profits that go to finance. This growth in the financial sector's profits has not been an accident; it is the result of conscious government policies. Remarkably, the economics profession has mostly viewed the growth of the financial sector as being of no special consequence, regarding its expansion as no different from growth in any other industry. This book takes an important step towards addressing this gap in research, examining the causes and consequences of an enlarged financial sector. The need for such work will become more evident as the world economy confronts more financial crises, like the stock market crash of 2000-2002.' -- Dean Baker, Center for Economic and Policy Research, Washington, DC, US `Financialization is a central and shaping feature of the world economy in the current period of liberalization of financial markets and trade. Financialization and the World Economy offers a series of expert, well-informed, critical studies of this phenomenon which explore its risks and costs. Readers who seek a balanced understanding of globalization will find this book an invaluable resource.' -- Duncan Foley, New School University, New York, US
About the Author
Edited by Gerald A. Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts-Amherst, US
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We use 40 times as much energy per person as we did in 1900 and the technology to utilize it has grown beyond all imagination. There is no theoretical reason why properly applied and improved classical political economy could not reduce our work week to 4 hours and eradicate poverty worldwide without little signs of resource limitation. Financialization that began in earnest with Reagan/Thatcher (listen to Paul Mason's, "radical economics part 2" BBC) has been a major blow to progress.
As Dr Hudson shows in his thesis, the America's Pershine Smith was not completely accepted here even as he was starting to get his economic thinking extremely correct, so he moved to Japan where the Meiji Government listened in earnest and is cited as one of the 2 great economic success stories in C. Owen Paepke's "Evolution of Progress".