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The Resource The great financial crisis : causes and consequences, John Bellamy Foster and Fred Magdoff

The great financial crisis : causes and consequences, John Bellamy Foster and Fred Magdoff

Creator
Contributor
Summary
In the fall of 2008, the United States was plunged into a financial crisis more severe than any since the Great Depression. As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, manyincluding economists and financial expertswere shocked by the speed at which events unfolded. In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and the implications for the future. They examine the specifics of the housing bubble and the credit crunch as well as situate current events within a broader crisis of monopoly-finance capitalismone that has been gestating for several decades. It is the "real" productive economy? tendency toward stagnation, they argue, that creates a need for capital to find ways to profitably invest its surplus. But rather than invest in socially useful projects that would benefit the vast majority, capital has constructed a financialized "casino" economy that neglects social needs and, as has become increasingly clear, is fatally unstable. Written over a two-year period immediately prior to the onset of the crisis, this timely and illuminating book is necessary reading for all those who wish to understand the current situation, how we got here, and where we are heading
Language
eng
Work
Publication
Extent
160 pages
Contents
  • Introduction
  • The household debt bubble
  • The explosion of debt and speculation
  • Monopoly-finance capital
  • The financialization of capitalism
  • The financialization of capital and the crisis
Isbn
9781583671849
Instance
Label
The great financial crisis : causes and consequences
Title
The great financial crisis
Title remainder
causes and consequences
Statement of responsibility
John Bellamy Foster and Fred Magdoff
Creator
Contributor
Subject
Genre
Language
eng
Summary
In the fall of 2008, the United States was plunged into a financial crisis more severe than any since the Great Depression. As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, manyincluding economists and financial expertswere shocked by the speed at which events unfolded. In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and the implications for the future. They examine the specifics of the housing bubble and the credit crunch as well as situate current events within a broader crisis of monopoly-finance capitalismone that has been gestating for several decades. It is the "real" productive economy? tendency toward stagnation, they argue, that creates a need for capital to find ways to profitably invest its surplus. But rather than invest in socially useful projects that would benefit the vast majority, capital has constructed a financialized "casino" economy that neglects social needs and, as has become increasingly clear, is fatally unstable. Written over a two-year period immediately prior to the onset of the crisis, this timely and illuminating book is necessary reading for all those who wish to understand the current situation, how we got here, and where we are heading
Cataloging source
DLC
http://library.link/vocab/creatorName
Foster, John Bellamy
Dewey number
330.9/0511
Index
index present
LC call number
HB3722
LC item number
.F66 2009
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorDate
1942-
http://library.link/vocab/relatedWorkOrContributorName
Magdoff, Fred
http://library.link/vocab/subjectName
  • Financial crises
  • Debt
  • Monopolies
  • Capitalism
  • Capitalism
  • Debt
  • Financial crises
  • Monopolies
  • Finanzkrise
  • Finanskriser
Label
The great financial crisis : causes and consequences, John Bellamy Foster and Fred Magdoff
Instantiates
Publication
Bibliography note
Includes bibliographical references (pages 141-156) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Introduction -- The household debt bubble -- The explosion of debt and speculation -- Monopoly-finance capital -- The financialization of capitalism -- The financialization of capital and the crisis
Control code
ocn270230550
Dimensions
21 cm
Extent
160 pages
Isbn
9781583671849
Lccn
2008044449
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
  • (Sirsi) o270230550
  • (OCoLC)270230550
Label
The great financial crisis : causes and consequences, John Bellamy Foster and Fred Magdoff
Publication
Bibliography note
Includes bibliographical references (pages 141-156) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Introduction -- The household debt bubble -- The explosion of debt and speculation -- Monopoly-finance capital -- The financialization of capitalism -- The financialization of capital and the crisis
Control code
ocn270230550
Dimensions
21 cm
Extent
160 pages
Isbn
9781583671849
Lccn
2008044449
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
  • (Sirsi) o270230550
  • (OCoLC)270230550

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