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The Dialectics of Liquidity Crisis: An interpretation of explanations of the financial crisis of 2007-08 book cover

1st Edition

The Dialectics of Liquidity Crisis An interpretation of explanations of the financial crisis of 2007-08

By Chris Jefferis Copyright 2017
148 Pages 1 B/W Illustrations
by Routledge

148 Pages 1 B/W Illustrations
by Routledge

148 Pages 1 B/W Illustrations
by Routledge
Also available as eBook on:
This book analyses the logic of applying the American Post-Keynesian economist Hyman Minsky’s Financial Instability Hypothesis (FIH) to the financial crisis of 2007–08. Arguing that most theories of financial crisis, including Minsky’s own, only describe events, but do not actually explain them, the book surveys theories of financial crisis that have been developed to describe instability in the... Read more

1. Introduction: historicizing economic theories of financial crisis

2. Minsky in context: a critique of "liquidity crisis" as an explanatory concept

3. Minsky contrary to Monetarism

4. Liquidity and abstraction

5. Arbitrage as a historical structure shaping the US financial system

6. Sociological interlude: calculation or commensuration

7. Recent financial instability in the US mortgage market: the three phases of risk

8. Economics, regulation and capital: an assessment of some proposed reforms

9. Conclusion

10. Bibliography

Biography

Chris Jefferis is post-doctoral research fellow in the Department of Political Science at Freie Universität’s John F. Kennedy Institute for North American Studies. He is also a joint recipient of an Institute for New Economic Thinking (INET) research grant analysing 'Financial Innovation and Central Banking in China: A Money View'.

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