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Costas Lapavitsas

Costas Lapavitsas

PROFITING WITHOUT PRODUCING: HOW FINANCE EXPLOITS US ALL

By Costas Lapavitsas

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AVAILABLE NOW: http://www.versobooks.com/books/1506-profiting-without-producing

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“This book is a profound and panoramic study of the most powerful but destructive economic force of our time – financialization. Based on a sophisticated modern reinterpretation of Marxist theories and in depth empirical analysis, the book comes up with bold and fundamental reform proposals. It is a must-read for anyone who is committed to progressive economic and social transformation.” – Ha-Joon Chang, Author of 23 THINGS THEY DON’T TELL YOU ABOUT CAPITALISM

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Financialization is one of the most innovative concepts to emerge in the field of political economy in the last three decades, although there is no agreement on what exactly it is. PROFITING WITHOUT PRODUCING defines financialization in terms of the fundamental conduct of non-financial enterprises, banks and households. Its most prominent feature is the rise of financial profit, in part extracted directly from households through financial expropriation. 

Financialized capitalism is prone to crises, none greater than the gigantic turmoil that began in 2007. Using abundant empirical data, the book establishes the causes of the crisis and discusses the options broadly available for controlling finance.

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HOW TO DO POST-CRASH ECONOMICS? Read Costas Lapavitsas’ outline for the future of economics here: http://www.versobooks.com/blogs/1441-how-to-do-post-crash-economics

VERSO POST-CRASH ECONOMICS READING LIST –

Neoliberal economics isn’t working and students are demanding more from their course reading than the 8th edition of Macroeconomics can provide. Following the news that Economics students in Manchester have formed the Post-Crash Economics Society and Aditya Chakrabortty’s excoriating and controversial commentary in the Guardian on the state of contemporary economics, Verso presents a reading list of economics titles which challenge the mainstream neoliberal consensus and offer powerful alternative models in contemporary economics: http://www.versobooks.com/blogs/1433-post-crash-economics-a-reading-list

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“The growing dominance of global finance over the past generation ushered in the Wall Street crisis of 2007–09, and, along with it, mass unemployment and punishing austerity policies throughout the world. Building from his command of both the Marxian tradition and alternative theoretical perspectives, Costas Lapavitsas provides both a wide panorama and fresh insights as to how “finance exploits us all”. PROFITING WITHOUT PRODUCING is a major contribution to our understanding of financialization and its discontents. – Robert Pollin, Political Economy Research Institute, University of Massachusetts-Amherst

“Costas Lapavitsas has provided an original account of the difficulties that economies will face recovering from the 2008 economic crisis. It is not an optimistic picture, but one that people should struggle with.” – Dean Baker, Center for Economic and Policy Research

“This work is clearly a masterpiece on the financialized capitalism of our age.” – Makoto Itoh, Professor Emeritus, University of Tokyo

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Costas Lapavitsas is a Professor of Economics at the School of Oriental and African Studies, University of London. He is a member of Research on Money and Finance (RMF). He is the lead author of the new RMF report “Breaking Up? A Route Out of the Eurozone Crisis.” His previous publications include SOCIAL FOUNDATIONS OF MARKETS, MONEY AND CREDIT and POLITICAL ECONOMY OF MONEY AND FINANCE.

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Paperback Original / ISBN: 9781781681411 / $29.95 / £20.00 / $34.95CAN/ 352 pages

 

Hardback / ISBN: 9781781682463 / 95.00 / £55.00 / $108.00CAN / 352 pages

 

For more information on PROFITING WITHOUT PRODUCING: HOW FINANCE EXPLOITS US ALL or to buy the book visit: http://www.versobooks.com/books/1506-profiting-without-producing

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Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.youtube.com/watch?v=YkP_Mi5ideo  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Rikowski Point: http://rikowskipoint.blogspot.com

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Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Costas Lapavitsas

Costas Lapavitsas

FINANCIALIZATION IN CRISIS

Edited by COSTAS LAPAVITSAS

AVAILABLE NOW FROM HAYMARKET

A TITLE IN THE HISTORICAL MATERIALISM BOOK SERIES

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In this important and timely volume, a number of well-known political economists draw on the insights of Marxist and other heterodox economists to argue that the turmoil of 2007 to 2009 represents a crisis of financialized capitalism that can only be understood through tracing out the structural changes in the modern global economy. Carefully examining domestic and international aspects of the financialization of capitalism over the past thirty years, the contributors persuasively demonstrate that the ongoing economic crisis commenced in the sphere of finance, spread to production, and then became a world recession.
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Costas Lapavitsas is Professor of Economics at the School of Oriental and African Studies. He has published extensively on the political economy of money and finance. His publications include Social Foundations of Markets, Money and Credit. 
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With Contributions From:
Carlos Morera Camacho • Paulo L. Dos Santos • Gary Dymski • Nuray Ergüneş • Makoto Itoh • Costas Lapavitsas • Juan Pablo Painceira • Demophanos Papadatos • José Antonio Rojas Nieto
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$28 / Paperback / 260 pages
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For more information or to buy the book visit: www.haymarketbooks.org

First published in http://www.historicalmaterialism.org/news/distributed/new-in-paperback-from-haymarket-financialization-in-crisis-by-costas-lapavitsas

 

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Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.youtube.com/watch?v=YkP_Mi5ideo (new remix, and new video, 2012)  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Rikowski Point: http://rikowskipoint.blogspot.com

Volumizer: http://glennrikowski.blogspot.com

Glenn Rikowski on Facebook at: http://www.facebook.com/glenn.rikowski

Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Costas Lapavitsas

Costas Lapavitsas

FINANCIALISATION IN CRISIS

http://www.brill.nl/financialisation-crisis

Financialisation in Crisis
Edited by Costas Lapavitsas

The turmoil of 2007-2009 is a crisis of financialised capitalism, and for this reason it is systemic and unusual. The crisis commenced in the sphere of finance, spread to production, and then became a world recession. Its unusual character is apparent since never before has a global economic crisis been triggered by banks lending to workers to buy houses. Moreover, state intervention to forestall the crisis becoming a major depression has been unprecedented. This book brings together several well-known political economists to analyse the domestic and international aspects of financialisation, thus putting the crisis in its appropriate context. It draws on Marxist and other heterodox economics to cast light on the broader implications of financialisation and crisis for society.

Biographical note
Costas Lapavitsas is Professor of Economics at the School of Oriental and African Studies. He has published extensively on the political economy of money and finance. His publications include Social Foundations of Markets, Money and Credit (Routledge, 2003).

Readership
Academic libraries, institutes, university courses, policy centres and political/social activists. Those interested in radical explanations of the rise of finance, the transformation of the economy and the recurrence of crisis.

Table of contents
List of Tables and Figures
Introduction: A Crisis of Financialisation, Costas Lapavitsas

PART I: DOMESTIC FINANCIALISATION AND THE ROOTS OF THE CRISIS

1. Financialised Capitalism: Crisis and Financial Expropriation, Costas Lapavitsas

2. The Political Economy of the Subprime Meltdown, Gary Dymski

3. On the Content of Banking in Contemporary Capitalism, Paulo L. Dos Santos

4. Central Banking in Contemporary Capitalism: The Limits of Monetary Policy, Demophanos Papadatos

PART II: INTERNATIONAL FINANCIALISATION AND THE GLOBAL IMPACT OF THE CRISIS

5. On the Historical Significance and Social Costs of the Subprime Financial Crisis: A Comparison with Japan, Makoto Itoh

6. Oil and Finance in the Global Markets, Carlos Morera Camacho and José Antonio Rojas Nieto

7. Developing Countries in the Era of Financialisation: From Deficit Accumulation to Reserve Accumulation, Juan Pablo Painceira

8. Global Integration of Middle-Income Developing Countries in the Era of Financialisation: The Case of Turkey, Nuray Ergüneş

References
Notes on Contributors
Index

 

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‘Stagnant’ – a new remix and new video by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=YkP_Mi5ideo  

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

MySpace Profile: http://www.myspace.com/glennrikowski

Cold Hands & Quarter Moon: http://www.myspace.com/coldhandsmusic