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The Restructuring of Capitalism in Our Time / William Tabb.

By: Material type: TextTextPublisher: New York, NY : Columbia University Press, [2012]Copyright date: ©2012Description: 1 online resource (352 p.)Content type:
Media type:
Carrier type:
ISBN:
  • 9780231158428
  • 9780231528030
Subject(s): DDC classification:
  • 332 23
LOC classification:
  • HB501 .T313 2012
  • HB501 .T313 2015
Other classification:
  • online - DeGruyter
Online resources: Available additional physical forms:
  • Issued also in print.
Contents:
Frontmatter -- Contents -- Acknowledgments -- 1. The Centrality of Finance -- 2. Financialization and Social Structures of Accumulation -- 3. Realism in Financial Markets -- 4. The Shadow of the Financial System -- 5. The Coming Apart -- 6. Rescue and the Limits of Regulation -- 7. Nations, Globalization, and Financialization -- 8. The Present in History -- References -- Index
Summary: Actions taken by the United States and other countries during the Great Recession focused on restoring the viability of major financial institutions while guaranteeing debt and stimulating growth. Once the markets stabilized, the United States enacted regulatory reforms that ultimately left basic economic structures unchanged. At the same time, the political class pursued austerity measures to curb the growing national debt. Drawing on the economic theories of Keynes and Minsky and applying them to the modern evolution of American banking and finance, William K. Tabb offers a chilling prediction about future crises and the structural factors inhibiting true reform.Tabb follows the rise of banking practices and financial motives in America over the past thirty years and the simultaneous growth of a shadow industry of hedge funds, private equity firms, and financial innovations such as derivatives. He marks the shift from an American economy based primarily on the production of goods and nonfinancial services to one characterized by financialization, then shows how these developments, perspectives, and approaches not only contributed to the recent financial crisis but also prevented the enactment of effective regulatory reform. He incisively analyzes the damage that increasing unsustainable debt and excessive risk-taking has done to our financial system and expands his critique to a discussion of world systems and globalization. Revealing the willful blind spots of mainstream finance theory, Tabb moves beyond an economic model reliant on debt expansion and dangerous levels of leverage, proposing instead a social structure of accumulation that places economic justice over profit and, more practically, institutes an inclusive, sustainable model for growth.
Holdings
Item type Current library Call number URL Status Notes Barcode
eBook eBook Biblioteca "Angelicum" Pont. Univ. S.Tommaso d'Aquino Nuvola online online - DeGruyter (Browse shelf(Opens below)) Online access Not for loan (Accesso limitato) Accesso per gli utenti autorizzati / Access for authorized users (dgr)9780231528030

Frontmatter -- Contents -- Acknowledgments -- 1. The Centrality of Finance -- 2. Financialization and Social Structures of Accumulation -- 3. Realism in Financial Markets -- 4. The Shadow of the Financial System -- 5. The Coming Apart -- 6. Rescue and the Limits of Regulation -- 7. Nations, Globalization, and Financialization -- 8. The Present in History -- References -- Index

restricted access online access with authorization star

http://purl.org/coar/access_right/c_16ec

Actions taken by the United States and other countries during the Great Recession focused on restoring the viability of major financial institutions while guaranteeing debt and stimulating growth. Once the markets stabilized, the United States enacted regulatory reforms that ultimately left basic economic structures unchanged. At the same time, the political class pursued austerity measures to curb the growing national debt. Drawing on the economic theories of Keynes and Minsky and applying them to the modern evolution of American banking and finance, William K. Tabb offers a chilling prediction about future crises and the structural factors inhibiting true reform.Tabb follows the rise of banking practices and financial motives in America over the past thirty years and the simultaneous growth of a shadow industry of hedge funds, private equity firms, and financial innovations such as derivatives. He marks the shift from an American economy based primarily on the production of goods and nonfinancial services to one characterized by financialization, then shows how these developments, perspectives, and approaches not only contributed to the recent financial crisis but also prevented the enactment of effective regulatory reform. He incisively analyzes the damage that increasing unsustainable debt and excessive risk-taking has done to our financial system and expands his critique to a discussion of world systems and globalization. Revealing the willful blind spots of mainstream finance theory, Tabb moves beyond an economic model reliant on debt expansion and dangerous levels of leverage, proposing instead a social structure of accumulation that places economic justice over profit and, more practically, institutes an inclusive, sustainable model for growth.

Issued also in print.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022)