A political economy of contemporary capitalism and its crisis : demystifying finance

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Title:

A political economy of contemporary capitalism and its crisis : demystifying finance

Author:

Sotiropoulos, Dimitris, 1975-, author.

ISBN:

9780415684088

Personal Author:

Sotiropoulos, Dimitris, 1975-, author.

Publication Information:

New York : Routledge, 2013.

Physical Description:

xx, 266 pages : illustrations ; 24 cm.

Series:

Routledge frontiers of political economy ; 172

Routledge frontiers of political economy ; 172.

Contents:

Machine generated contents note: 1.The parasitic absentee owner in the Keynes-Veblen-Proudhon tradition -- 2.Ricardian Marxism and finance as unproductive activity -- 3.Is finance productive or "parasitic?" -- 4.Derivatives as money? -- 5.Finance, discipline, and social behavior: tracing the terms of a problem that was never properly stated -- 6.Episodes in finance -- 7.Fictitious capital and finance: an introduction to Marx's analysis (in the third volume of Capital) -- 8.Financialization as a technology of power: incorporating risk into the Marxian framework -- 9.Towards a political economy of monetary unions: revisiting the crisis of the Euro area -- 10.European governance and its contradictions.

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Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025594231	330.122 S717P 2013	1	Searching... Unknown

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Summary

The recent financial meltdown and the resulting global recession have rekindled debates regarding the nature of contemporary capitalism.

This book analyses the ongoing financialization of the economy as a development within capitalism, and explores the ways in which it has changed the organization of capitalist power. The authors offer an interpretation of the role of the financial sphere which displays a striking contrast to the majority of contemporary heterodox approaches. Their interpretation stresses the crucial role of financial derivatives in the contemporary organization of capitalist power relations, arguing that the process of financialization is in fact entirely unthinkable in the absence of derivatives.

The book also uses Marx's concepts and some of the arguments developed in the framework of the historic Marxist controversies on economic crises in order to gain an insight into the modern neoliberal form of capitalism and the recent financial crisis. Employing a series of international case studies, this book will be essential reading for all those with an interest in the financial crisis, and all those seeking to comprehend the workings of capitalism.