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Palgrave Macmillan

Finance Capitalism and Income Inequality in the Contemporary Global Economy

A Comparative Study of the USA, South Korea, Argentina and Sweden

  • Book
  • © 2023

Overview

Authors:
  1. Kuat B. Akizhanov

    1. Institute of Applied Research, Academy of Public Administration under the President of Kazakhstan, Astana, Kazakhstan

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  • Presents a methodology for how income inequality and disparity can be analysed

  • Highlights how financial liberalisation and deregulation exacerbates levels of private and public debt

  • Brings together insights from a number of different heterodox schools of thought

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xxiv
    Download chapter PDF

  2. Introduction: The Political Economy of Rising Income Inequality

    • Kuat B. Akizhanov
    Pages 1-20

  3. The Global Debate on Finance Capitalism

    • Kuat B. Akizhanov
    Pages 21-44

  4. How to Study Inequality of the Finance Capitalism Era

    • Kuat B. Akizhanov
    Pages 45-67

  5. USA: The Birth of Finance Capitalism

    • Kuat B. Akizhanov
    Pages 69-94

  6. South Korea: Transforming National Model

    • Kuat B. Akizhanov
    Pages 95-123

  7. Argentina: Entrenching Income Inequality

    • Kuat B. Akizhanov
    Pages 125-152

  8. Sweden: Defending Economic Democracy

    • Kuat B. Akizhanov
    Pages 153-188

  9. Conclusion: Rethinking Finance Capitalism and Income Inequality Nexus

    • Kuat B. Akizhanov
    Pages 189-216

  10. Back Matter

    Pages 217-228
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Keywords

About this book

This book explores the causes of rising income inequality within industrialised, developing, and emerging economies. The development of finance capitalism over the last 40 years is charted to highlight how the neoliberal restructuring of national and global economies has driven income inequality. With case studies from the USA, South Korea, Argentina, and Sweden, a comparative analysis is presented to reveal how financialisation facilitates uneven capital accumulation and generates conditions that increase income inequality.


This book aims to outline an analytical framework for a financialisation-induced income inequality nexus. It will be relevant to students and researchers interested in the political economy and financial economics.


Reviews

This book represents a breakthrough in understanding the relationship between inequality and the dominating form of capitalism, financialization. In a comparative study of the USA, South Korea, Argentina and Sweden the links that create income inequality are systematically identified. They are not all uniform, with national political economies mediating. In turn, this study shows how the unequal effects of financialization may be addressed. The book should be read by all those interested in the global economy and its impact on national economies. — (Hugh Lauder, Professor of Education and Political Economy, University of Bath, UK.)

Authors and Affiliations

  • Institute of Applied Research, Academy of Public Administration under the President of Kazakhstan, Astana, Kazakhstan

    Kuat B. Akizhanov

About the author

Dr. Kuat B. Akizhanov is Director of the Institute of Applied Research of Academy of Public Administration under the President of the Republic of Kazakhstan and a Teaching Fellow at the CERGE-EI Foundation. He also lectures at the KazGUU University and OCSE Academy in Bishkek. He has previously held positions at the University of Birmingham and at the University of Bath.

Bibliographic Information

  • Book Title: Finance Capitalism and Income Inequality in the Contemporary Global Economy

  • Book Subtitle: A Comparative Study of the USA, South Korea, Argentina and Sweden

  • Authors: Kuat B. Akizhanov

  • DOI: https://doi.org/10.1007/978-3-031-21768-5

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023

  • Hardcover ISBN: 978-3-031-21767-8Published: 16 February 2023

  • Softcover ISBN: 978-3-031-21770-8Published: 16 February 2024

  • eBook ISBN: 978-3-031-21768-5Published: 15 February 2023

  • Edition Number: 1

  • Number of Pages: XXIV, 228

  • Number of Illustrations: 12 b/w illustrations

  • Topics: Political Economy/Economic Systems, Macroeconomics/Monetary Economics//Financial Economics, Development Economics

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