【2013】 of Finance-Dominated Capitalism and its Crisis
Book 图书名称:The Macroeconomics of Finance-Dominated Capitalism and its Crisis
Author 作者: Eckhard Hein
Publisher 出版社: Edward Elgar
Page 页数:231
Publishing Date 出版时间: Oct 31, 2013
Language 语言: English
Size 大小: 5 MB
Format 格式: pdf 文字版
ISBN: 9781781005545
Edition: 第1版 搜索过论坛,没有该文档
In this timely and thought-provoking book, Eckhard Hein illustrates that the Great Recession, which hit the world economy in 2008/09, is rooted in the contradictions of finance-dominated capitalism. The author provides an in-depth exploration of the macroeconomics of finance-dominated capitalism, its problems and its crisis, and presents economic policy lessons and alternatives. In particular, he shows that since the early 1980s, finance-dominated capitalism has affected long-run economic developments via three distinct channels:
• the re-distribution of income at the expense of low labour incomes,
• the dampening of investment in real capital stock,
• and an increasing potential for wealth-based and debt-financed consumption.
The author concludes that against the background of these basic macroeconomic tendencies, increasing instability potentials at the national economy levels and rising current account imbalances at both global and European levels have developed and have contributed to the severity of the Great Recession.
This systematic study of finance-dominated capitalism presented from a macroeconomic perspective will prove a thought-provoking read for academics, researchers, graduate students and economic policy consultants with an interest in macroeconomics, financial economics, economic policies, and distribution and growth.