This challenging book examines the origins and dynamics of financialeconomic crises. Its wide theoretical scope incorporates the theories of Marx, Keynes and various other Post Keynesian scholars of endogenous money, and provides a grand synthesis of these theoretical lineages, as well as a powerful critique of prevailing neoclassical/monetarist theories of money. Bill Lucarelli provides detailed historical analyses of the causes of the current international financial crisis, and offers alternative heterodox theories with more coherent and rigorous theoretical frameworks than existing economic orthodoxies. He illustrates that the very assumptions of neoclassical theory - informed by the efficient markets hypothesis - tend to rule out the very possibility of endogenous financial crises. Consequently, he argues, the endogenous causes of these crises are either ignored or simply treated as random, extraneous historical events. In stark contrast to these neoclassical/monetarist views, this book seeks to explain the recurrence of these financial crises as a result of the inner workings of the capitalist system.Asimakopulos, A. (1983), a#39;Kalecki and Keynes on finance, investment and savinga#39; , Cambridge Journal of Economics, 7, 221a33. ... Bell, John R. (2009), Capitalism and the Dialectic, New York: Pluto Press. ... Bellofiore, Riccardo and Piero Ferri ( 2001b), a#39;Things fall apart, the 156 The economics of financial turbulence.
|Title||:||The Economics of Financial Turbulence|
|Publisher||:||Edward Elgar Publishing - 2011-01-01|