The Dialectics of Liquidity Crisis: An Interpretation of Explanations of the Financial Crisis of 2007-08

ISBN-13: 9781032179216 / Angielski / Miękka / 2021 / 148 str.

Chris Jefferis

Opis

This book analyses the logic of applying the American Post-Keynesian economist Hyman Minsky’s Financial Instability Hypothesis (FIH) to the financial crisis of 2007-08. In conducting a historicizing critique of Minsky’s work this book seeks to illustrate how the abstraction of financial "risk" which conditions trade in financial instruments such

Spis treści

1. Introduction: historicizing economic theories of financial crisis

2. Minsky in context: a critique of "liquidity crisis" as an explanatory concept

3. Minsky contrary to Monetarism

4. Liquidity and abstraction

5. Arbitrage as a historical structure shaping the US financial system

6. Sociological interlude: calculation or commensuration

7. Recent financial instability in the US mortgage market: the three phases of risk

8. Economics, regulation and capital: an assessment of some proposed reforms

9. Conclusion

10. Bibliography

O autorze

Chris Jefferis is post-doctoral research fellow in the Department of Political Science at Freie Universität’s John F. Kennedy Institute for North American Studies. He is also a joint recipient of an Institute for New Economic Thinking (INET) research grant analysing 'Financial Innovation and Central Banking in China: A Money View'.