Political Economy Of Financialization In The United States
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Political Economy Of Financialization In The United States
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Author : Kurt Mettenheim
language : en
Publisher: Routledge
Release Date : 2021-09-23
Political Economy Of Financialization In The United States written by Kurt Mettenheim and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-23 with Business & Economics categories.
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.
Financialization Of The Economy Business And Household Inequality In The United States
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Author : Kurt Mettenheim
language : en
Publisher: Routledge
Release Date : 2021-11-17
Financialization Of The Economy Business And Household Inequality In The United States written by Kurt Mettenheim and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-17 with Business & Economics categories.
This second volume on the political and social economy of financialization in the US focuses on the consequences of the rise of finance for the American macroeconomy, household inequality, and the management of nonfinancial business enterprises. A historical–institutional balance-sheet approach to long-term trends and recent change in the US reveals a series of anomalies and provisos for critical, heterodox, and mainstream economic approaches and provides new perspectives on debates about political economic change in advanced economies since the 2007–2008 financial crisis. This book marks a significant contribution to the literature on financialization and studies in social economics, household economics, the structure and management of nonfinancial business enterprises, and American political economy.
The Political Economy Of Housing Financialization
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Author : Gregory W. Fuller
language : en
Publisher:
Release Date : 2019
The Political Economy Of Housing Financialization written by Gregory W. Fuller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Finance, Public categories.
The Financialization Of Housing
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Author : Manuel B. Aalbers
language : en
Publisher: Routledge
Release Date : 2016-05-05
The Financialization Of Housing written by Manuel B. Aalbers and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-05 with Business & Economics categories.
Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.
Capitalizing On Crisis
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Author : Greta R. Krippner
language : en
Publisher: Harvard University Press
Release Date : 2012-09-10
Capitalizing On Crisis written by Greta R. Krippner and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-10 with Social Science categories.
In the context of the recent financial crisis, the extent to which the U.S. economy has become dependent on financial activities has been made abundantly clear. In Capitalizing on Crisis, Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.S. economy than is suggested by the current preoccupation with financial speculation. Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state’s attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979. Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.
Financialization And The Us Economy
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Author : È Orhangazi
language : en
Publisher: Edward Elgar Publishing
Release Date : 2008-01-01
Financialization And The Us Economy written by È Orhangazi and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-01 with Business & Economics categories.
Profound transformations have taken place both in the US and the global economy, most especially in the realm of finance. This title brings together a comprehensive analysis of financialization in the US economy that encompasses historical, theoretical, and empirical sides of the issues.
The Political Economy Of Housing Financialization
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Author : Gregory W. Fuller
language : en
Publisher:
Release Date : 2019
The Political Economy Of Housing Financialization written by Gregory W. Fuller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Finance, Public categories.
Fuller explores the growing role of mortgage markets in the macroeconomy and provides a comparative analysis of housing finance and its growth across a number of European economies and the U.S. The book offers an insightful and timely discussion of the key political-economic consequences of household mortgage debt expansion.
The Political Economy Of The Special Relationship
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Author : Jeremy Green
language : en
Publisher: Princeton University Press
Release Date : 2020-07-28
The Political Economy Of The Special Relationship written by Jeremy Green 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 2020-07-28 with Political Science categories.
How America's global financial power was created and shaped through its special relationship with Britain The rise of global finance in the latter half of the twentieth century has long been understood as one chapter in a larger story about the postwar growth of the United States. The Political Economy of the Special Relationship challenges this popular narrative. Revealing the Anglo-American origins of financial globalization, Jeremy Green sheds new light on Britain’s hugely significant, but often overlooked, role in remaking international capitalism alongside America. Drawing from new archival research, Green questions the conventional view of international economic history as a series of cyclical transitions among hegemonic powers. Instead, he explores the longstanding interactive role of private and public financial institutions in Britain and the United States—most notably the close links between their financial markets, central banks, and monetary and fiscal policies. He shows that America’s unparalleled post-WWII financial power was facilitated, and in important ways constrained, by British capitalism, as the United States often had to work with and through British politicians, officials, and bankers to achieve its vision of a liberal economic order. Transatlantic integration and competition spurred the rise of the financial sector, an increased reliance on debt, a global easing of regulation, the ascendance of monetarism, and the transition to neoliberalism. From the gold standard to the recent global financial crisis and beyond, The Political Economy of the Special Relationship recasts the history of global finance through the prism of Anglo-American development.
Financialization
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Author : T. Palley
language : en
Publisher: Palgrave Macmillan
Release Date : 2013-05-28
Financialization written by T. Palley and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-28 with Business & Economics categories.
The term financialization is a term that has become popular to describe developments within the global economy, and particularly within developed industrialized economies, over the past thirty years. The book is divided into four sections, which together give a comprehensive treatment of the economics and political economy of financialization.
The Political Economy Of Food And Finance
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Author : Ted P. Schmidt
language : en
Publisher: Routledge
Release Date : 2015-12-14
The Political Economy Of Food And Finance written by Ted P. Schmidt and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-14 with Business & Economics categories.
The financialization, globalization and industrialization of our food systems make it increasingly difficult to access quality fresh food. In fact, the industrialized global food system is creating products that are less food-like, engendering growing questions about the health and safety of our food supply. In addition, the bio-engineering of food commodities is another factor influencing the growth of industrial farming for an increasingly homogenized, globalized market. This book describes the financialization process in commodity futures markets which transformed commodities into an asset class. Incorporated into the portfolio decisions of investors, commodity prices now behave like all asset prices, becoming more volatile and subject to periodic bubbles. As commodity prices were driven higher in the 2000s, farmland became more valuable, setting off a global land grab by investors, nations, and corporations. More recently, under the financialization food regime, slow growth and low returns encouraged merger activity driven by private equity firms, with food industry corporations as prime targets, leading to increased industry concentration. With government policy focused on supporting corporate interests, there has been a global reaction to the current food system. The food sovereignty movement is taking on the interests behind the global land grab, and the regional food movement in cities across the U.S. is hitting corporations at the bottom line. Food corporations are listening. Is the food movement winning? This book is of interest to those who study political economy, financialization and agriculture and related studies, as well as food systems and commodity future markets.