Financialization and the World Economy
Annotation 'We are all acutely aware of the increasing role in economic life of financial markets, institutions and operations and the pursuit of financial rewards, that is financialization. This book helps us to understand this dominant feature of neo-liberalism by examining the distributional implications, the effects of financialization on the US economy, international dimensions and monetary system, financial crises and policy responses. the breadth and depth of the analyses in this book will make it a most important contribution to the awareness of the problems raised by financialization and to the development of policy responses.' - Malcolm Sawyer, University of Leeds, UK Financialization - the increasing importance of financial markets, institutions and motives in the world economy - is described and analyzed in this rigorously researched volume. the contributors, top scholars in their fields, explore the quantitative and qualitative dimensions of financialization and tally its costs and benefits for society as a whole. They explore the puzzling promotion of financial liberalization by governments despite its enormous costs, and describe what can be done to alter the destructive path toward excessive financialization that most countries are taking.
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