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This chapter considers financial instability as a phenomenon endogenous to the functioning of capitalism. Consequently …, it seeks to identify the main sources and different forms of the latter in financialised capitalism. According to Keynes … capitalism: the long-term financial cycle governed by the debt ratio of non-financial agents; the business cycle governed by the …
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This study examines the development of the US economy since the prolonged recession in the early 1980s. This period was characterised by a serious weakening in the bargaining position of waged workers and a major expansion of the financial sector. Most of the economic gains accrued to top...
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