Overview
- Expands on the established work of economic historians and integrates these new developments into a holistic, institutional framework
- Argues that contemporary neoliberalism in the USA from the Greenspan Era to the present has shaped our institutions and ideologies in ways that have had a profound and deleterious effect
- Raises the concern that these institutional and ideological developments are deepening the crisis conditions of our financial system
Part of the book series: Palgrave Insights into Apocalypse Economics (PIAE)
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Table of contents (13 chapters)
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Front Matter
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Back Matter
Keywords
- Apocalypse economics
- Financial crises
- Institutional economics
- Contemporary neoliberalism
- The Mutual Support Network
- The Washington Consensus
- The Dotcom Crash
- The Great Recession
- Microfinance
- Equity crowdfunding
- Neoliberal Non-Alternatives
- Alan Greenspan
- green capitalism
- corporate hegemony
- Greenspan era
- Financial instability
- Political economy of economic crises
About this book
As we tour the 400 year history of capitalism through its various phases of development, financial system instability is always there lurking in the shadows. The historical record attests that the processes of aggregating capital for real investment are inescapably vulnerable to risk, manic speculation, unserviceable debt, and crises; and with each episode of instability, a trail of devastation follows. Economic historians such as Hyman Minsky, Charles Kindleberger and others have studied this history and have exposed certain boom-bust patterns that have a way of stubbornly repeating themselves.
This book posits that the large-scale financial crises that the world has experienced over the last 30 years are more or less the latest segments in this narrative, but with some distinct characteristics. In the period spanning the stock market crash of 1987 to the banking crisis of 2008 and its aftermath – the Greenspan Era – there were key institutional and ideological developments rooted in contemporary neoliberalism that have reshaped the historic rise-and-fall patterns to become more severe and widespread. In this important volume, Magnuson suggests the next episode will be a massive financial cyclone that will send us all tumbling toward a perilous future.Reviews
Authors and Affiliations
About the author
Bibliographic Information
Book Title: Financing the Apocalypse
Book Subtitle: Drivers for Economic and Political Instability
Authors: Joel Magnuson
Series Title: Palgrave Insights into Apocalypse Economics
DOI: https://doi.org/10.1007/978-3-030-04720-7
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2018
Hardcover ISBN: 978-3-030-04719-1Published: 12 January 2019
Softcover ISBN: 978-3-030-40517-5Published: 20 February 2020
eBook ISBN: 978-3-030-04720-7Published: 30 December 2018
Series ISSN: 2523-8108
Series E-ISSN: 2523-8116
Edition Number: 1
Number of Pages: IX, 328
Number of Illustrations: 1 b/w illustrations, 11 illustrations in colour
Topics: Macroeconomics/Monetary Economics//Financial Economics, Economic Policy, Financial Crises, Institutional/Evolutionary Economics, Economic History