Political Economy of Financialization in the United States

Political Economy of Financialization in the United States
Author :
Publisher : Routledge
Total Pages : 243
Release :
ISBN-10 : 9781000449679
ISBN-13 : 100044967X
Rating : 4/5 (79 Downloads)

Book Synopsis Political Economy of Financialization in the United States by : Kurt Mettenheim

Download or read book Political Economy of Financialization in the United States written by Kurt Mettenheim and published by Routledge. This book was released on 2021-09-23 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining balance sheet analysis with historical institutional analysis, this book traces the evolution of social sector financial balance sheets in the US from 1960 to 2018. This innovative historical-institutional approach, ranging from the micro level of households to the macro level of the federal government, reveals that the displacement of households by banks has been a long-term process. This gradual compounding of financialization is at odds with widely accepted views about financialization, contemporary banking theory, financial intermediation theory, and post-Keynesian and endogenous money approaches. The book returns to time-tested traditional principles of banking and taps unexpected affinities about market failures in transaction cost economics, financial intermediation theory, and core ideas in classic modern political and social economy about economic moralities and social reactions of self-defense against unfettered markets. This book provides an alternative explanation for the rise of finance and new ways to think about averting financialization and its devastating consequences. This book marks a significant contribution to the literature on financialization, social economics, banking, and the American political economy.


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The final section offers ideas for policy responses, including capital controls and securities transaction taxes."--BOOK JACKET.