New Book: Capitalism, Macroeconomics & Reality – Understanding Globalization, Financialization, Competition & Crisis

By James Crotty. From Edward Elgar: The essays comprising this collection analyze the deep flaws in the methodological foundation of mainstream economic theory, and explain how these flaws make mainstream economics more ideology than sound social science. James Crotty develops alternative theories built on realistic assumptions that can explain most of the disastrous economic and … More New Book: Capitalism, Macroeconomics & Reality – Understanding Globalization, Financialization, Competition & Crisis

New Book by Harry Cleaver: Rupturing the Dialectic – The Struggle against Work, Money, and Financialization

From AK Press: Harry Cleaver’s pioneering Reading Capital Politically showed not only how capitalism seeks to structure every aspect of our lives through and around work but also how we endlessly fight back in ways that reshape capitalism itself. Rupturing the Dialectic skillfully brings this project up to date, interpreting capitalism’s most recent crises and … More New Book by Harry Cleaver: Rupturing the Dialectic – The Struggle against Work, Money, and Financialization

New Book by Costas Lapavitsas: Marxist Monetary Theory

From Brill: The collected papers of Costas Lapavitsas are a pathway to Marxist monetary theory, a field that continues to attract strong interest. The papers range far and wide, including markets and money, finance and the enterprise, power and money, the financialisation of capitalism, finance and profit, even money as art. Despite its breadth, the … More New Book by Costas Lapavitsas: Marxist Monetary Theory

Dirk Bezemer & Michael Hudson: Finance Is Not the Economy

By Dirk Bezemer and Michael Hudson Why have economies polarized so sharply since the 1980s, and especially since the 2008 crisis? How did we get so indebted without real wage and living standards rising, while cities, states, and entire nations are falling into default? Only when we answer these questions can we formulate policies to extract … More Dirk Bezemer & Michael Hudson: Finance Is Not the Economy

Evidence that financialisation increases income inequality

By Engelbert Stockhammer, Alexander Guschanski, & Karsten Köhler, The past four decades were characterised by drastic changes in the distribution of income between wages and profits. This can be observed through a decline in the wage share. In a sample of 14 OECD countries, the share of total national income going to wages fell, on … More Evidence that financialisation increases income inequality