Money, Finance and Capitalist Development

By
Philip Arestis (Contributor) Malcolm Sawyer (Contributor)  

Hardback

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In the past thirty years the financial sector has seen unparalleled growth and has exerted increased economic and political influence and significance. This growth has come hand-in-hand with several serious economic crises and greater monetary instability. Set against this background, this important book offers a wide ranging, critical analysis of the financial sector.Each of the chapters explores a different theme under the general topic of money, finance and capitalist development. The performance of capitalist economies is first analysed from a Keynesian evolutionary perspective before moving to a focus on the East Asian crisis and asking the question of whether the global neo-liberal regime can survive in Asia. The rapid growth of the financial sector has involved, amongst other changes, a dramatic growth in the sale of financial derivatives. This activity is examined and found to increase uncertainty rather than decrease risk. The nature of money, and in particular the nature of endogenous credit money, is thoroughly discussed, and the political economy of central banks and their operations is reviewed. The book concludes with a critical assessment of the non-accelerating inflation rate of unemployment. Money, Finance and Capitalist Development will be of great value and interest to financial and monetary economists, as well as students and scholars of macroeconomics and finance.
Edited by Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK and Malcolm Sawyer, Emeritus Professor of Economics, University of Leeds, UK
  • Contributor: Philip Arestis
  • Imprint: Edward Elgar Publishing Ltd
  • ISBN13: 9781840645989
  • Number of Pages: 288
  • Packaged Dimensions: 156x234mm
  • Format: Hardback
  • Publisher: Edward Elgar Publishing Ltd
  • Release Date: 2001-09-26
  • Binding: Hardback
  • Biography: Edited by Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK and Malcolm Sawyer, Emeritus Professor of Economics, University of Leeds, UK

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