Globalized Finance and Varieties of Capitalism

by H. van Zon & Hans van Zon
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eBook

Publisher: Palgrave Macmillan UK

Series: International Political Economy Series

Publication Date: May 26, 2016

ISBN: 9781137560278

Binding: Kobo eBook

Availability: eBook

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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 the EU.