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Financing the Apocalypse

Drivers for Economic and Political Instability

  • Joel Magnuson

Part of the Palgrave Insights into Apocalypse Economics book series (PIAE)

Table of contents

  1. Front Matter
    Pages i-ix
  2. Joel Magnuson
    Pages 1-15
  3. Joel Magnuson
    Pages 17-41
  4. Joel Magnuson
    Pages 43-73
  5. Joel Magnuson
    Pages 113-143
  6. Joel Magnuson
    Pages 145-164
  7. Joel Magnuson
    Pages 193-215
  8. Joel Magnuson
    Pages 217-241
  9. Joel Magnuson
    Pages 243-264
  10. Joel Magnuson
    Pages 283-305
  11. Joel Magnuson
    Pages 307-315
  12. Back Matter
    Pages 317-328

About this book

Introduction

As we tour the 400 year history of capitalism through its various phases of development, financial system instability is always there lurking in the shadows. The historical record attests that the processes of aggregating capital for real investment are inescapably vulnerable to risk, manic speculation, unserviceable debt, and crises; and with each episode of instability, a trail of devastation follows. Economic historians such as Hyman Minsky, Charles Kindleberger and others have studied this history and have exposed certain boom-bust patterns that have a way of stubbornly repeating themselves.

This book posits that the large-scale financial crises that the world has experienced over the last 30 years are more or less the latest segments in this narrative, but with some distinct characteristics. In the period spanning the stock market crash of 1987 to the banking crisis of 2008 and its aftermath – the Greenspan Era – there were key institutional and ideological developments rooted in contemporary neoliberalism that have reshaped the historic rise-and-fall patterns to become more severe and widespread. In this important volume, Magnuson suggests the next episode will be a massive financial cyclone that will send us all tumbling toward a perilous future.

Keywords

Apocalypse economics Financial crises Institutional economics Contemporary neoliberalism The Mutual Support Network The Washington Consensus The Dotcom Crash The Great Recession Microfinance Equity crowdfunding Neoliberal Non-Alternatives Alan Greenspan green capitalism corporate hegemony Greenspan era Financial instability Political economy of economic crises

Authors and affiliations

  • Joel Magnuson
    • 1
  1. 1.Independent ResearcherTualatinUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-030-04720-7
  • Copyright Information The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG, part of Springer Nature 2018
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-030-04719-1
  • Online ISBN 978-3-030-04720-7
  • Series Print ISSN 2523-8108
  • Series Online ISSN 2523-8116
  • Buy this book on publisher's site