Its Not Over: Structural Drivers of the Global Economic Crisis

Hardcover | January 24, 2013

EditorRohit

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The current economic crisis also resulted in a crisis of sorts, within the discipline of economics. The mainstream supply-side theories failed spectacularly to predict the crisis. This calls for alternative theoretical structures which would explain the causes of the same. This book is anattempt towards this very goal. The volume provides both a theoretical analysis along with a very convincing empirical substantiation, giving a novel perspective of the current and continuing crisis. It provides an alternative interpretation of the trend in growth that the United States haswitnessed over the last three decades. The reasons for the crisis are traced in the real economy, instead of the financial. The volume examines, theoretically and empirically, whether increased income and wealth inequality contributed to instability in the US economy. The argument is that crisis in capitalism, including the very recentone, are not mere happenstance, but they are an inherent part of it. The book explains that the crisis is a result of two components, business cycles as well as the underlying trend. Thus, it explores the current crisis with respect to both these issues and places it in a historical context. Thisbook is immensely relevant and topical.

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The current economic crisis also resulted in a crisis of sorts, within the discipline of economics. The mainstream supply-side theories failed spectacularly to predict the crisis. This calls for alternative theoretical structures which would explain the causes of the same. This book is anattempt towards this very goal. The volume provi...

Dr. Rohit is Assistant Professor, Faculty of Economics, South Asian University, Delhi.

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Format:HardcoverDimensions:320 pages, 8.46 × 5.51 × 0.01 inPublished:January 24, 2013Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198088418

ISBN - 13:9780198088417

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Table of Contents

Introduction1. Class Conflict and Inequality2. Weakened Workers and Resurgent Capital3. Did Concentration Increase Inequality?4. Models on Concentration and Growth5. The Wealth Effect6. The Debt Effect7. An Overview of the US Economy8. Consumption Behaviour in the US9. Investment Behaviour of US Corporations10. Two Booms Since 1990ConclusionIndex