Political Economy of Financialization in the United States: A Historical-Institutional Balance-Sheet Approach
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Product details
| Management number | 201822935 | Release Date | 2025/10/08 | List Price | $23.81 | Model Number | 201822935 | ||
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This book explores the evolution of social sector financial balance sheets in the US from 1960 to 2018, combining balance sheet analysis with historical institutional analysis. It reveals that the displacement of households by banks has been a long-term process, contradicting widely accepted views about financialization. It offers an alternative explanation for the rise of finance and proposes new ways to think about averting financialization.
Format: Paperback / softback
Length: 316 pages
Publication date: 31 May 2023
Publisher: Taylor & Francis Ltd
Combining balance sheet analysis with historical institutional analysis, this comprehensive book delves into the evolution of social sector financial balance sheets in the United States from 1960 to 2018. By employing an innovative historical-institutional approach, spanning from the micro level of households to the macro level of the federal government, the author uncovers a profound truth: the displacement of households by banks has been a gradual and enduring process over the years. This gradual compounding of financialization stands in stark contrast to widely accepted views on financialization, contemporary banking theory, financial intermediation theory, and post-Keynesian and endogenous money approaches. The book reconnects with time-tested traditional principles of banking and reveals unexpected affinities between market failures in transaction cost economics, financial intermediation theory, and core ideas in classic modern political and social economy regarding economic moralities and social reactions of self-defense against unfettered markets. In doing so, it offers an alternative explanation for the rise of finance and presents fresh perspectives on mitigating the detrimental consequences of financialization. This book is a significant addition to the literature on financialization, social economics, banking, and the American political economy, offering valuable insights and perspectives for scholars and policymakers alike.
Weight: 453g
Dimension: 229 x 152 (mm)
ISBN-13: 9780367627188
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