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Financialization

The Economics of Finance Capital Domination

  • Book
  • © 2013

Overview

Authors:
  1. Thomas I. Palley

    1. AFL-CIO, USA

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Table of contents (12 chapters)

  1. Front Matter

    Pages i-x
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  2. Overview: Financialization as Financial Neoliberalism

    1. Overview: Financialization as Financial Neoliberalism

      • Thomas I. Palley
      Pages 1-13

  3. The Macroeconomics of Financialization

    1. Front Matter

      Pages 15-15
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    2. Financialization: What It Is and Why It Matters

      • Thomas I. Palley
      Pages 17-40

    3. The Macroeconomics of Financialization: Stages of Development Approach

      • Thomas I. Palley
      Pages 41-61

    4. The Simple Analytics of Debt-driven Business Cycles

      • Thomas I. Palley
      Pages 62-81

    5. Deflation and Inflation Dynamics with Debt

      • Thomas I. Palley
      Pages 82-102

  4. Financialization and Instability

    1. Front Matter

      Pages 103-103
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    2. Herd Behavior: Safety in Numbers

      • Thomas I. Palley
      Pages 105-111

    3. Short-termism: The Problem of Managerial Turnover

      • Thomas I. Palley
      Pages 112-125

    4. A Theory of Minsky Super-cycles and Financial Crises

      • Thomas I. Palley
      Pages 126-142

  5. Financialization and Growth

    1. Front Matter

      Pages 143-143
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    2. Inside Debt and Economic Growth

      • Thomas I. Palley
      Pages 145-161

  6. Financialization and Policy

    1. Front Matter

      Pages 163-163
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    2. A Monetary Policy Framework for Asset Price Bubbles

      • Thomas I. Palley
      Pages 165-181

    3. Monetary Policy and Central Banking after the Crisis: The Implications of Rethinking Macroeconomic Theory

      • Thomas I. Palley
      Pages 182-200

    4. The Political Economy of Financialization

      • Thomas I. Palley
      Pages 201-213

  7. Back Matter

    Pages 214-234
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Keywords

About this book

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.

Authors and Affiliations

  • AFL-CIO, USA

    Thomas I. Palley

About the author

THOMAS PALLEY is an economist living in Washington DC, USA. He is currently Senior Economic Policy Adviser to the AFL-CIO in Washington DC. He was formerly chief economist with the US - China Economic and Security Review Commission. Prior to joining the Commission he served as director of the Open Society Institute's Globalization Reform Project and as assistant director of Public Policy at the AFL-CIO. He is the author of Plenty of Nothing: The Downsizing of the American Dream and the Case for Structural Keynesianism, Princeton University Press (1998); Post Keynesian Economics: Debt, Distribution and the Macro Economy, Macmillan/St.Martins Press (1996); From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics, Cambridge University Press (2012); and The Economic Crisis: Notes From the Underground, CreateSpace (2012). He has published in numerous academic journals, and written for The Atlantic Monthly, American Prospect and Nation magazines. His numerous op-eds are posted on his website www.thomaspalley.com. Dr. Palley holds a B.A. degree from Oxford University, UK and a M.A. degree in International Relations and Ph.D. in Economics, both from Yale University.

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