Beyond Mainstream Explanations of the Financial Crisis

 

While there is a consensus that the main source of the 2008 financial collapse was the accumulation of too much toxic debt, there is little agreement on the factors that precipitated the buildup of all that unsustainable debt. Focusing on superficial descriptions or symptomatic factors such as deregulation, securitization, greed, and the like, mainstream economics falls way short of providing a satisfactory explanation for the collapse, or the ensuing long recession. Beyond Mainstream Explanations of the Financial Crisis skillfully fills this theoretical void as it provides an alternative explanation of the 2008 financial collapse, of the ensuing long recession and of the neoliberal austerity responses to it. Instead of simply blaming the “irrational behavior” of market players, as neoliberals do, or lax public supervision, as Keynesians do, the study focuses on the core dynamics of capitalist development that not only created the financial bubble, but also fostered the “irrational behavior” of market players and subverted public policy. 

 

Introduction   (Portuguese Translation of the Introduction)

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Reviews of the Book

Contents 

Introduction to Chapter 1 

Introduction to Chapter 2 

Introduction to Chapter 4 

Introduction to Chapter 8 

Index 

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