Crisis and Inequality

The Political Economy of Advanced Capitalism

Inbunden, Engelska, 2021

AvMattias Vermeiren

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Spiralling inequality since the 1970s and the global financial crisis of 2008 have been the two most important challenges to democratic capitalism since the Great Depression. To understand the political economy of contemporary Europe and America we must, therefore, put inequality and crisis at the heart of the picture.In this innovative new textbook Mattias Vermeiren does just this, demonstrating that both the global financial crisis and the European sovereign debt crisis resulted from a mutually reinforcing but ultimately unsustainable relationship between countries with debt-led and export-led growth models, models fundamentally shaped by soaring income and wealth inequality. He traces the emergence of these two growth models by giving a comprehensive overview, deeply informed by the comparative and international political economy literature, of recent developments in the four key domains that have shaped the dynamics of crisis and inequality: macroeconomic policy, social policy, corporate governance and financial policy. He goes on to assess the prospects for the emergence of a more egalitarian and sustainable form of democratic capitalism.This fresh and insightful overview of contemporary Western capitalism will be essential reading for all students and scholars of international and comparative political economy.

Produktinformation

Utgivningsdatum2021-01-22
Mått175 x 246 x 28 mm
Vikt703 g
FormatInbunden
SpråkEngelska
Antal sidor304
FörlagJohn Wiley and Sons Ltd
ISBN9781509537686

Tillhör följande kategorier

Ekonomisk politik inom Ekonomi och Ledarskap

List of Figures, Tables and BoxesIntroductionChapter 1 Rising inequality in advanced capitalismChapter 2 The rise and fall of egalitarian capitalismChapter 3 Macroeconomic policy: From “full employment” to “sound money”Chapter 4 Social policy: Globalisation, deindustrialisation and liberalisationChapter 5 Corporate governance: The rise of shareholder capitalismChapter 6 Financial policy: Market-based banking and the global financial crisisChapter 7 Macroeconomic imbalances before and after the crisisChapter 8 The future of egalitarian capitalismNotesReferences

"Vermeiren's Crisis and Inequality is a lucid book that analyses the shift from Keynesianism to neoliberalism and the resulting bifurcation of debt-driven and export-driven growth models, the global financial crisis and the ensuing secular stagnation. It offers a clear examination of the impact of rising inequality and economic instability. This is an important book that demonstrates the vitality of the growth models approach to political economy."Engelbert Stockhammer, King's College London"A must-read on inequality, firmly anchored where it should be, in the politics of macroeconomic policy regimes."Daniela Gabor, University of the West of England, Bristol"Erudite, comprehensive, and stimulating, Crisis and Inequality is the best introduction to economic issues for political science students that I have read... It is an invaluable service to the discipline."Scott Lavery, Sheffield Political Economy Research Institute (SPERI)