Capitalizing on Crisis: The Political Origins of the Rise of Finance
In the context of the recent financial crisis, the extent to which the U. S. economy has become dependent on financial activities has happened generously clear. In "Capitalizing on Crisis, " Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a much wider transformation of the Circumstance. S. economy than is recommended by the current preoccupation with financial supposition.
Krippner states that state policies that created conditions conducive to financialization allowed the point out to avoid a series of economic, social, and political dilemmas that challenged policymakers as postwar abundance stalled from the later 1960s and 1970s. Found in this regard, the financialization of the economy has not been a deliberate outcome desired by policymakers, but alternatively an inadvertent result of the state's attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and nineteen eighties, encouragement of foreign capital into the U. S i9000. economy in the situation of large fiscal instability in the early nineteen eighties, and within monetary insurance plan following the shift to high interest levels in lates 1970s.
Exhaustively searched, the book brings comprehensive new empirical evidence to bear on debates regarding recent developments in financial markets and the much wider choose the market that has characterized U. S i9000. society over the previous several decades.