Understanding Financial Crises: 1st Edition (Hardback) book cover

Understanding Financial Crises

1st Edition

By Ensar Yılmaz

Routledge

272 pages | 47 B/W Illus.

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Hardback: 9780367480677
pub: 2020-07-31
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Description

Incorporating a broad range of economic approaches, Understanding Financial Crises explores the merits of various arguments and theories which have been used to explain the causes of financial crises.

The book explores eight of these different explanations: under-consumption, debt accumulation, financialization, income inequality, financial fragility, tendency of rate of profit to fall, human behavior and global imbalances. The introduction provides a brief overview of each argument along with a comparison of their relative merits. Each chapter then introduces one of the arguments, explores a historical case, and focuses on the insights that can be gleaned into the global crisis in 2007-2008. The book draws on insights from various schools of thought including post-Keynesian economics, Marxist economics, behavioral economics, neoclassical economics, and more, to provide a pluralist overview of the causes of economic crises in general and the Great Recession in particular.

This book marks a significant contribution to the literature on economic and financial crises, political economy and heterodox economics. It is well suited to academicians, practitioners, and financial analysts working within the relevant fields.

Table of Contents

Introduction

(1) Underconsumption, Overproduction and Disproportionality

(2) Debt Accumulation

(3) Financialization and Neoliberalism

(4) Income Inequality

(5) Financial Instability Hypothesis

(6) Tendency of Rate of Profit to Fall

(7) Human Behavior

(8) Global Imbalances and Crises

About the Author

Ensar Yılmaz is a professor at Yıldız Technical University, Istanbul, Turkey, where he teaches in the Department of Economics. He is the author of several articles in the subjects of macroeconomics, financial regulation, income distribution and game theory.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUS023000
BUSINESS & ECONOMICS / Economic History
BUS069000
BUSINESS & ECONOMICS / Economics / General
BUS069030
BUSINESS & ECONOMICS / Economics / Theory