(Routledge Frontiers of Political Economy) 1st Edition
by Ensar Yılmaz (Author)
Incorporating a broad range of economic approaches, Understanding Financial Crises explores the merits of various arguments and theories which have been used to explain the causes of financial crises.
The
book explores eight of these different explanations: underconsumption,
debt accumulation, financialization, income inequality, financial
fragility, tendency of rate of profit to fall, human behavior, and
global imbalances. The introduction provides a brief overview of each
argument along with a comparison of their relative merits. Each chapter
then introduces one of the arguments, explores a historical case, and
focuses on the insights that can be gleaned into the global crisis in
2007–2008. The book draws on insights from various schools of thought
including post-Keynesian economics, Marxist economics, behavioral
economics, neoclassical economics, and more, to provide a pluralist
overview of the causes of economic crises in general and the Great
Recession in particular.
This book marks a significant
contribution to the literature on economic and financial crises,
political economy and heterodox economics. It is well suited to
academicians, practitioners, and financial analysts working within the
relevant fields.
