000			02668nam a22002057a 4500
999			_c5185 _d5185
005			20230314170817.0
008			230314b ||||| |||| 00| 0 eng d
020			_a9781032121321
082			_a330 _bSCA
100			_aScarano, Giovanni _911983
245			_aFinancialization and macroeconomics: _bthe impact on social welfare in advanced economies
260			_bRoutledge _aNew York _c2023
300			_aviii, 203 p.
365			_aGBP _b34.99
504			_aTable of Contents Introduction. 1.Post-Keynesian approaches. 2.The French Regulation School and the Social Structures of Accumulation approach. 3.Classical Marxist approaches. 4.Interest bearing capital vs industrial capital. 5.Financial rentiers and the revenant conflict between rent and profit. 6.Corporate saving glut and liquidity holding. 7.Financialisation of NFCs, globalisation and growth. 8.Conclusion
520			_aFinancialisation has become a widely discussed and debated term leading to a plurality of perspectives, but no fixed definition or single reading. This book presents a critical exploration and review of the current literature on financialisation, focusing on the financialisation of NFCs and its possible implications for the macroeconomic and financial stability of advanced countries. Starting from this critical analysis, it proposes some new readings of the process of financialisation, linking it directly, on the one hand, to the evolution of interest-bearing capital and the credit system, and, on the other hand, to the historical tendencies of monopoly capital towards financial arrangements to manage corporate control. Finally, a conceptual scheme for interpretation and a mathematical model of corporate portfolio choice is developed to explain how the tendency in developed countries to place growing shares of social surplus in speculative financial channels can contribute to their long-term real stagnation. The book also underlines the excessive attention usually being paid to some micro-epiphenomena that show a fallacy of composition at the macroeconomic level and can lead to some misunderstandings of the general trends in capitalist evolution. Moreover, some doubts are raised about the extent to which financialisation actually represents a change to the present regime of accumulation. The book targets all the scholars who are interested in better understanding whether financialisation constitutes a profound change in the functioning of capitalist economic systems and what effects it can produce in social welfare in the advanced countries.
650			_aAdvanced economies _912245
650			_aSocial welfare _912246
942			_2ddc _cBK