A History of Financialization by Lars Ahnland HARDBACK 9781032999463

Taylor & Francis Ltd

A History of FinancializationInequality, Debt and Crisis from Liberalism to Neoliberalism\nAuthor(s): Lars Ahnland\nFormat: Hardback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9781032999463, 978-1032999463\nSynopsis\nAnalyzing long-cycle patterns during the twentieth century, this book presents novel findings on how core features of financialization are interconnected across advanced economies.\n\nIt proposes that, since the late nineteenth century, international macroeconomic policy regimes have favored either capital or labor, giving rise to corresponding cycles of financialization and de-financialization: a liberal phase of financialization [tel], a regulated phase of de-financialization [tel], and a neoliberal phase of financialization [tel]. The book argues that these cycles can be explained through underconsumption theory in 13 advanced economies. During financialization, the study suggests inequality created a savings glut that stimulate.