Inequality In Financial Capitalism
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Inequality In Financial Capitalism
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Author : Pasquale Tridico
language : en
Publisher: Taylor & Francis
Release Date : 2017-03-16
Inequality In Financial Capitalism written by Pasquale Tridico and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-16 with Business & Economics categories.
Recently, the issue of inequality has regained attention in the economic and political debate. This is due to both an increase in income inequality, in particular among rich countries, and an increasing interest in this issue by researchers and politicians. In the last three decades, income inequality among rich countries increased. This period also witnessed the growth of "financial capitalism", characterised by the strong dependency of economies on the financial sector, by the globalisation and intensification of international trade and capital mobility, and by the "flexibilisation" of labour markets and the reduction of wage shares. From the 1980s to the present day, this book considers the theoretical aspects of inequality (its foundations, definitions, approaches and origins) and examines empirical evidence of income inequality in a wide range of advanced economies. The key arguments in this volume are that income inequality increased during this period because labour and welfare became seen as costs to be compressed in "financial capitalism" rather than as a fundamental part of aggregate demand to be expanded. However, the welfare state is not a drain on economic performance and competitiveness, nor is it a barrier to economic efficiency. Instead, it is demonstrated that in countries that adopt "welfare capitalism", welfare state expenditure not only contributes to a reduction in inequality but also fosters economic growth. Inequality in Financial Capitalism is of great importance to those who study economics, political economy, labour economics and globalisation.
Finance Capitalism And Income Inequality In The Contemporary Global Economy
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Author : Kuat B. Akizhanov
language : en
Publisher: Springer Nature
Release Date : 2023-02-15
Finance Capitalism And Income Inequality In The Contemporary Global Economy written by Kuat B. Akizhanov and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-15 with Political Science categories.
This book explores the causes of rising income inequality within industrialised, developing, and emerging economies. The development of finance capitalism over the last 40 years is charted to highlight how the neoliberal restructuring of national and global economies has driven income inequality. With case studies from the USA, South Korea, Argentina, and Sweden, a comparative analysis is presented to reveal how financialisation facilitates uneven capital accumulation and generates conditions that increase income inequality. This book aims to outline an analytical framework for a financialisation-induced income inequality nexus. It will be relevant to students and researchers interested in the political economy and financial economics.
Crisis And Inequality
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Author : Mattias Vermeiren
language : en
Publisher: John Wiley & Sons
Release Date : 2021-02-11
Crisis And Inequality written by Mattias Vermeiren and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-11 with Political Science categories.
Spiralling inequality since the 1970s and the global financial crisis of 2008 have been the two most important challenges to democratic capitalism since the Great Depression. To understand the political economy of contemporary Europe and America we must, therefore, put inequality and crisis at the heart of the picture. In this innovative new textbook Mattias Vermeiren does just this, demonstrating that both the global financial crisis and the European sovereign debt crisis resulted from a mutually reinforcing but ultimately unsustainable relationship between countries with debt-led and export-led growth models, models fundamentally shaped by soaring income and wealth inequality. He traces the emergence of these two growth models by giving a comprehensive overview, deeply informed by the comparative and international political economy literature, of recent developments in the four key domains that have shaped the dynamics of crisis and inequality: macroeconomic policy, social policy, corporate governance and financial policy. He goes on to assess the prospects for the emergence of a more egalitarian and sustainable form of democratic capitalism. This fresh and insightful overview of contemporary Western capitalism will be essential reading for all students and scholars of international and comparative political economy.
Growth Without Inequality
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Author : Henry K. H. Woo
language : en
Publisher: Routledge
Release Date : 2017-03-27
Growth Without Inequality written by Henry K. H. Woo and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-27 with Business & Economics categories.
Many years on after the 2007–8 financial crisis, most developed nations still find themselves in a state of weak recovery, high debt pile-up and distributive disparity. The intriguing question that we face is whether the golden days of modern capitalism are over, or if capitalism is just undergoing another period of adjustment characteristic of its past. What is disheartening is that the twin economic goals of sustainable growth and equality, which the world has now come to recognise as of paramount importance but mutually conflicting, remain, more now than ever, illusive and unattainable. Growth Without Inequality attempts to address this issue and to provide a pragmatic solution especially for nations in the current policy gridlock. By offering a unified framework of factors that drive growth, it shows how growth also gives rise to an array of "anomalous market forms" (defined by different degrees of value and risk visibility) that subvert distributive equity between labour and capital. It debunks both the pure free market solution and the mixed economy approach on the ground that they fail to arrest the growth propelling yet subversive power inherent in the "corporate forms" under the present capitalistic regime. Having shown that effective reform can hardly take place within the system itself, this book proposes to build a separate sector (Economy II) and partition it from the existing system (Economy I). The solution is easy to implement and quick to take effect. By one single stroke, this "Non-Marxist" solution can happily achieve the ideals of both "competitive capitalism" and "egalitarian socialism".
Inequality Boom And Bust
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Author : Howard J. Sherman
language : en
Publisher: Routledge
Release Date : 2018-02-19
Inequality Boom And Bust written by Howard J. Sherman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-19 with Business & Economics categories.
There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily due to characteristics inherent in the standard operation of capitalist institutions. Furthermore, the authors seek to explain the cycle of boom and bust by considering political and social factors often overlooked by conservative economists. This book also explores how wealth influences political policies in a way that increases economic inequality even more than its present level. Through analysis of American political and economic institutions, Inequality, Boom, and Bust presents concrete steps for an activist, progressive policy to greatly reduce inequality through free healthcare, free higher education, and reduced unemployment.
Global Capitalism In Disarray
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Author : Andrés Solimano
language : en
Publisher: Oxford University Press
Release Date : 2017
Global Capitalism In Disarray written by Andrés Solimano and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Business & Economics categories.
Global capitalism is affected by the malaises of stagnation, financial fragility, increased income inequality, growing wealth concentration at the top, and a vanishing fair social contract. This book focuses on the incidence of these phenomena in the US, UK, Greece, Spain, Chile, South Africa, Australia, China, and other countries. The book looks at the effects of IMF-ECB led austerity policies in Europe. The book examines concrete country and global conditions combining theory, country studies, historical evidence, and international comparative analysis. The book also proposes new policy priorities to restore stability, reduce inequality, and consolidate democracy in 21st century capitalism.
Capitalism Perverted
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Author : Wayne D. Armitstead
language : en
Publisher: FriesenPress
Release Date : 2020
Capitalism Perverted written by Wayne D. Armitstead and has been published by FriesenPress this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Business & Economics categories.
We all heard so much about the Global Financial Crisis in 2008—it was in the news every day for many months. Some countries, like Greece and Portugal, were nearly bankrupted, and we heard a lot about Americans losing their homes. • Do you wonder why that happened? • Do you ever wonder why none of the greedy bankers and stockbrokers are in jail? • Do you wonder what all the fuss is about with income inequality, and the furor over the 1%? And why do CEOs of large companies make so much money?! • Would you like to be able to understand which of our politicians really understand the root problems, and are willing to work on them? In this book, Wayne Armitstead describes the history that set us up for the financial crisis, who some of the players were, and what they did or didn’t do that made the crisis much worse than it needed to be. Most importantly, using the lessons of the American economist Hyman Minsky, Armitstead describes the steps our governments and central bankers need to take to prevent a repeat financial crisis.
Finance And The Good Society
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Author : Robert J. Shiller
language : en
Publisher: Princeton University Press
Release Date : 2013-04-21
Finance And The Good Society written by Robert J. Shiller and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-21 with Business & Economics categories.
Argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets, and that new ways to rechannel financial creativity to benefit society as a whole are needed.
Keystroke Capitalism
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Author : Aaron Sahr
language : en
Publisher: Verso Books
Release Date : 2022-03-01
Keystroke Capitalism written by Aaron Sahr and has been published by Verso Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-01 with Political Science categories.
Why society needs to reclaim the power to create money At the heart of capitalism lies the ability of private banks to create money at the stroke of a key. Why have we ignored this unique privilege for so long – and at what cost? Aaron Sahr attributes the lack of attention paid to money creation to the core of popular theories of capitalism, which equate economic power with capital ownership. This conceptual framework obscures the real drivers of capitalist dynamics as well as the causes of increasing inequality. By exploring the transformation of banking over the last half century, Sahr shows how the creation of money has driven the rise of finance as well as splitting incomes from wealth. As a result, the real economy of ordinary people has become a debt supplier to a monetary system whose returns accumulate at the top. It is not simply the markets but money itself that transfers wealth from the masses to a minority. Increasing financial inequality can therefore only be remedied by addressing predistribution – the modalities of money creation – as well as the distributive effects of the markets. By mapping this hidden regime of ‘keystroke capitalism’, Sahr makes an essential contribution to our understanding of economic inequality and capitalist dynamics.
Songs Of Profit Songs Of Loss
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Author : Daniel Scott Souleles
language : en
Publisher:
Release Date : 2019
Songs Of Profit Songs Of Loss written by Daniel Scott Souleles and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Since the early 1980s, private equity investors have heralded and shepherded massive changes in American capitalism. From outsourcing to excessive debt taking, private equity investment helped normalize once-taboo business strategies while growing into an over $3 trillion industry in control of thousands of companies and millions of workers. Daniel Scott Souleles opens a window into the rarefied world of private equity investing through ethnographic fieldwork on private equity financiers. Songs of Profit, Songs of Loss documents how and why investors buy, manage, and sell the companies that they do; presents the ins and outs of private equity deals, management, and valuation; and explains the historical context that gave rise to private equity and other forms of investor-led capitalism. In addition to providing invaluable ethnographic insight, Songs of Profit, Songs of Loss is also an anthropological study of inequality as Souleles connects the core components of financial capitalism to economic disparities. Souleles uses local ideas of "value" and "time" to frame the ways private equity investors comprehend their work and to show how they justify the prosperity and poverty they create. Throughout, Souleles argues that understanding private equity investors as contrasted with others in society writ large is essential to fully understanding private equity within the larger context of capitalism in the United States