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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

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

The Old Economics

The Old Economics

POST-CRASH ECONOMICS SOCIETY

University of Manchester, UK

 

The Post-Crash Economics Society is determined to try and expand the range of economic theories taught to undergraduates. Following the 2008 recession we, like many people around the globe, feel that the economics taught cannot explain the world we live in, and so believe it is necessary to start looking at the alternatives. In February 2012, The Bank of England ran a conference subtitled ‘Are Graduate Economists Fit for Purpose?’ This society is about making sure economics graduates from the University of Manchester are fit for purpose and that we are able to explain how economics relates to the real world. If we can do this then we will be more employable, more competent and more confident that we can use what we learn in economics in our lives.

Our group does everything from organising events with dissenting economists, to trying to convince the University of Manchester’s economics department that they should change the syllabus. We want more critical theory and reflection to be included, because at the moment economics students are just told to accept a long list of supposedly self-evident truths, instead of being encouraged to truly understand the discipline.If you are also getting frustrated by the same old economics lectures, or just want to learn more about heterodox economics, then come along to one of our events and get involved!

Note – this society is not just for students studying purely economics. Those who are doing a joint honours including economics, or even those who do a totally different degree but still have a passion to understand these issues, are encouraged to get involved. For instance, if you wish to learn more about economic theory, why not come along to one of our self-education groups, where we meet and discuss some of the big questions within the discipline.

Statement of Aims

We are The Post-Crash Economics Society and we are a group of economics students at The University of Manchester who believe that the content of the economics syllabus and the way it is taught could and should be seriously rethought.

We were inspired to start this society when we heard about a Bank of England Conference called ‘Are Economics Graduates Fit for Purpose?’ At this event leading economists from the public and private sphere came together to discuss whether economics undergraduates were being taught the right things in the light of the 2008 Financial Crisis. This chimed with some of our frustrations about the economics we were learning and so we decided to set up a society that would through doing research, organising events and running workshops seek to bring this discussion to Manchester. That was at the start of the 2012/13 academic year.

As of today we have a fully-fledged society, a book club, an incredibly successful launch event lead by world class economists, many student and academic supporters, a petition that is constantly gaining signatures, links with a national network of economic societies and organisation and even more passion and determination to change the current state of economic education!

However, this is just the start. We will ensure that this society will become a permanent fixture on the Manchester economics landscape in the years to come, forever seeking to provoke discussion between students and staff about what economics is, what it should be and how it should be taught.

Society Constitution

1) The Post-Crash Economics Society has been set up to try and broaden the range of perspectives and the teaching methods used by the Manchester Economics Department.

2) We will run a campaign to build student support and engage in dialogue with the economics department.

3) We will run events, workshops and other activities.

4) We aim to be a society that is accessible to all students and staff with an interest in economics whatever their economic and political beliefs.

 

Contact – post.crasheconomics@gmail.com

Facebook – http://www.facebook.com/groups/220428964756799/?fref=ts

Post-Crash Economics Society: http://manchesterstudentsunion.com/groups/post-crash-economics

Report in ‘The Guardian’: http://www.theguardian.com/business/2013/oct/24/students-post-crash-economics

Post-Crash Economics website: http://www.post-crasheconomics.com/

 

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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

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