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Crises of Global Economy and the Future of Capitalism

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Asset Price Inflation
brothers
Capital Accumulation Regime
Capital Accumulation System
Category=GTM
Category=KCA
Category=KCB
Category=KCL
Category=KFFL
Category=KFFM
Category=KJ
collateralized
crisis
currency
Current Global Financial Crisis
debt
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Federal Reserve
Financial Instability Hypothesis
Gdp Growth
Global Imbalances
IFS Database
IMF Database
lehman
managed
Managed Currency System
marx's
MBS
Minsky's Financial Instability Hypothesis
Minsky’s Financial Instability Hypothesis
Non-financial Business Sectors
Pe Rc
Real Estate Market Bubble
Real Gdp
Real Gdp Growth
Southern EU Country
Sub-prime Loans
Subprime Borrowers
Subprime Crisis
Subprime Loan
Subprime Loan Crisis
Surplus Money Capital
system
theory

Product details

  • ISBN 9780415687331
  • Weight: 810g
  • Dimensions: 156 x 234mm
  • Publication Date: 10 Dec 2012
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Hardback
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Description

Recent events in the global financial markets and macro economies have served as a strong reminder for a need of a coherent theory of capitalist crisis and analysis. This book helps to fill the gap with well-grounded alternative articulations of the forces which move today's economic dynamics, how they interact and how ideas of foundational figures in economic theory can be used to make sense of the current predicament. The book presents a comprehensive collection of reflections on the origins, dynamics and implications of the interlinked crises of the U.S. and global economies.

The book is a thoughtful collaboration between Japanese heterodox economists of the Japan Society of Political Economy (JSPE) and non-Japanese scholars. It provides a unique immersion in different, sophisticated approaches to political economy and to the crisis. The book illustrates with the understanding of Marx's crisis theory and how it can serve as a powerful framework for analyzing the contemporary sub-prime world crisis. The book explains the subprime loan crisis as a crisis in a specific phase of the capitalist world system and concludes that it is a structural one which destroys the existing capital accumulation regime. It pays attention to structural changes and to how these changes beget profound and controversial consequences.

The result is a must-read - one which truly contributes to the resurgence of radical analyses of the political economy, free from the market optimism of the main-stream economics.
About
Kiichiro Yagi is Vice President and Professor in Economics at Setsunan University, Japan. He was educated in the University of Tokyo and Nagoya University. He received his Ph. D. from Kyoto University. He taught political economy and history of economics at Kyoto University for a quarter of century. Since the mid of nineteen-nineties he made efforts to integrate the ideas of evolutionary and institutional economics with classical political economy including Marxian economics. He is Chief Representative of the JSPE. Nobuharu Yokokawa is Professor of Economics at Musashi University, Tokyo Japan. He was educated at Shiga University (BA), the University of Tokyo (MSc) and Cambridge University (PhD). His publications include Value, Employment and Crisis (in Japanese, Shakai Hyouron Sya). He had co-edited Capitalism in Evolution (Edward Elgar), Industrialization of China and India and its Impact on World Economy (Routledge, forthcoming). Since 2007 he has been editor of the Uno Theory Newsletter. He is chairman of the JSPE Committee for International Communication and Exchange Shinjiro Hagiwara is Professor of Economics at Yokohama National University, Japan. He was educated at Fukushima University and at the University of Tokyo. His publications include US Multinationals in the World Economy (Ohtsuki 2005 in Japanese) and The Rise and Demise of the Keynesian Coalition (Yuhikaku 1996 in Japanese). He is a member of the executive board of the JSPE. Gary Dymski is Chair in Applied Economics at the Leeds University Business School, University of Leeds, and is on leave as Professor of Economics at the University of California, Riverside. He received his BA in urban studies from the University of Pennsylvania, graduating Phi Beta Kappa in 1975. He received a doctorate in economics from the University of Massachusetts, Amherst in 1987. He has published books, articles, chapters, and studies on banking, financial fragility, urban development, credit-market discrimination, the Latin American and Asian financial crises, exploitation, housing finance, the subprime lending crisis, financial regulation, the Eurozone crisis, and economic policy. He is an academic adviser of the JSPE.