Schlagwort-Archive: financialization

Kees van der Pijl: The Financial Crisis and the War for Global Governance

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This paper argues that in the transition from corporate liberalism to neoliberalism, the projection of global governance by the West replaces the previous recognition of bloc formation of non-Western states. The military build-up and counterrevolutionary interventions  under Reagan, and the revolt of the capital markets against Keynesianism coupled with unregulated finance, were the relays in this projection. In the same period the Israeli Far Right and their supporters in the United States re-baptised national liberation as terrorism. This made it possible to continue with record defence outlays and arms exports to Middle East and Asian clients. In the early nineties the US military-industrial complex  More

Daniela Gabor: The Romanian Financial System: From Central Bank-Led to Dependent Financialisation

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This study argues that financialisation is not a phenomenon exclusively associated with complex innovation in highly developed financial markets. Financialisation also affects countries with „shallow“ financial markets but with a significant presence of transnational financial actors that become a powerpul economic and political force able to navigate and shape uneven regulatory and institutional terrains in order to sustain new modes of profit generation. The study distinguishes two stages in the financialisation of the Romanian economy. The first, central bank dominated. Weiterlesen →

Jan Toporowski: Debt, Class and Asset Inflation

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The mainstream view of household consumption and saving is based on the idea of a ‘representative’ household endowed with more or less perfect foresight, according to whether the theory is New Classical or New Keynesian. The traditional Keynesian view had household saving and consumption determined by income, with Post-Keynesian innovations in the form of differentiated propensities to consume on the part of workers or capitalists and, following Minsky, increasing indebtedness of firms. More

Jan Toporowski: Eastern Europe: Post-Communist Assets in Crisis

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During the 1980s, in the final years of communism, Eastern European economists and politicians were easily persuaded by the myth that removal of the petty restrictions on private business would allow private enterprise to flourish. The idea of a permanent state of capitalist dynamism is rooted in the notion that finance spontaneously backs industrial enterprise.                                                                                                         Many economists assume, at least in their abstract theories More

 

Jan Toporowski: The Wisdom of Property and the Politics of the Middle Classes

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At the end of the twentieth century, while financial economists satisfied their intellectual pretensions to useful knowledge by conjuring up visions of a world peopled with materialistic consumer-investors optimizing rationally in accordance with their willingness to hazard their wealth, the propertied classes themselves were succumbing to new delusions fostered by the financial markets. The reasoned response of propertied individuals to their experience of the world of speculative finance More

 

Jorge Garcia-Arias, Eduardo Fernandez-Huerga, Ana Salvador: European Periphery Crises, International Financial Markets, and Democracy: Moving Towards a Globalized Neofeudalism?

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This paper analyzes the origin and causes of the recent economic and financial crises, mainly for the countries located in the periphery of the European Union (EU), as well as their evolution and transformation into social, political, and institutional crises.
After explaining the differential impact of the crises on EU member economies mand critically analysing the unsuccessful orthodox neoclassical policies more

Workshop Organisers: „Wrap Up“

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1. A short introduction

We have used and use our international RLF Conference on Rosa Luxemburgs “Accumulation of Capital” http://kapacc.blog.rosalux.de/2013/05/19/100th-anniversary-of-the-accumulation-of-capital-a-contribution-to-an-economic-explanation-of-imperialism-a-century-old-work-remains-current-provocative-and-eminal/ for the preparation process of the 4th EU experts’ discussion. More

Andrea Lagna: American Power in the Age of Financialisation: An Appreciation of Peter Gowan’s Contribution to the Field of International Political Economy

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According to a recent report published by the European Commission (2013:14), the global financial crisis has only temporarily stopped the economic growth of the United States (US). In fact, the average per-capita income in this country will return to pre-crisis levels during the period 2014-2023. These figures contrast strikingly with the dim forecast concerning European economies. More

Workshop Organizers: Some Elementary Remarks and Suggestions

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Starting by reminding you on our „First Thoughts“ from December 2013 we should like to repeat (or to explain) the following points:

1. The workshop in October 2014 will be the fourth in a series of EU experts’ discussions oriented towards elaborating political-economic analyzes which can help us to understand current societal reality More