Verfasst von:	Tabb, William K. [VerfasserIn]
Titel:	Financialization and the future of the American economy
Verf.angabe:	William K. Tabb
Verlagsort:	London ; New York
Verlag:	Routledge Taylor & Francis Group
Jahr:	2024
Umfang:	204 Seiten
Fussnoten:	Literaturangaben. - Index
ISBN:	978-1-032-47247-8
	978-1-032-47246-1
Abstract:	"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."
DOI:	doi:10.4324/9781003385240
URL:	Inhaltsverzeichnis: https://www.gbv.de/dms/zbw/1847784887.pdf
	DOI: https://doi.org/10.4324/9781003385240
Schlagwörter:	(g)USA    / (s)Wirtschaftliche Lage    / (s)Wirtschaftsentwicklung
Sprache:	eng
Bibliogr. Hinweis:	Erscheint auch als : Online-Ausgabe: Tabb, William K: Financialization and the future of the American economy. - Abingdon, Oxon : Routledge, 2023
	Erscheint auch als : Online-Ausgabe: Tabb, William K., 1942 - : Financialization and the future of the American economy. - London : Routledge, Taylor & Francis Group, 2024. - 1 online resource
RVK-Notation:	QK 010
	QG 620
K10plus-PPN:	1847784887