The Political Economy of Independent Ukraine analyses the reasons for the abysmal economic performance of Ukraine during the 1990s. The main thesis is that economic development was blocked by a set of parasitic mechanisms at all levels of the economy that prevented the development of value-added economic activities. These parasitic mechanisms already developed under Soviet rule ('beating the system' by redistributing goods and services while disregarding formal rules) became a widespread practice.

Hans van Zon analyzes the financialization of developed capitalism, and argues that the emergence of finance as a dominant force has contributed to the relative decline of the West. He demonstrates that the neo-liberal model is inherently unstable and undermines capitalist economies, which can only function if they are embedded in institutions that are non- or even pre-capitalist. He shows how a toxic combination of financialization, corporate globalization, and a deregulated and parasitic financial industry have led to structural economic stagnation in both the USA and the greater part of...