Negative interest rates : the black hole of financial capitalism
著者
書誌事項
Negative interest rates : the black hole of financial capitalism
(Critical studies on corporate responsibility, governance and sustainability, v. 13)
Emerald, 2021
- タイトル別名
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Taux d'intérêt négatifs : le trou noir du capitalisme financier
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注記
Includes bibliographical references (p. 163-166) and indexes
内容説明・目次
内容説明
Are the unconventional accommodative monetary policies in place since 2008 pulling Western economies into a black hole?
Jacques Ninet asks precisely this question of these policies as he investigates their origins, effectiveness and permanency. Starting with the neoliberal revolution of the 1980s, Ninet shows how growing wealth disparities and their counterpart, growing indebtedness, have created financial instability and triggered recurring crises. Central banks have become the only game in town, but as they have reached the zero-lower bound in the US and even crossed it in Europe and Japan, they are now in great danger, and they are carrying with them the whole house of cards.
Ideally suited for researchers, professionals and students of finance and economics, this book shows that very little would be needed to restore economic order, and it demonstrates how such efforts could be carried out in conjunction with efforts towards ecological transition and the restoration of social justice.
目次
Part 1. Financial Capitalism: from the Neoliberal Revolution to the Multifaceted Crisis of the 21st Century
Chapter 1. The Great Turn
Chapter 2. Neoliberalism and the Revenge of Rentier Capitalists
Chapter 3. The Underpinnings of Hyper-Financialization
Chapter 4. The poor economic and financial record of thirty-five years of neoliberalism
Part 2. Anatomy of a Crisis
Chapter 5. The Single Crisis of the Asset-Based Economy
Chapter 6. A foreseeable but not foreseen crisis
Chapter 7. Deficit and debt trap
Chapter 8. A Useless Crisis?
Part 3. In the Hands of Central Banks
Chapter 9. Central Bank. A Standard Reading
Chapter 10. Some Facts About the Monetary Economy... To Better Understand the True Role of Central Banks
Chapter 11. The Short History of Central Banks in the Long History of Money.
Chapter 12. Theoretical Foundations of Central Banking. From Monetarism to Dynamic Stochastic General Equilibrium (DSGE) Models.
Chapter 13. Does Independence Guarantee Infallibility?
Chapter 14. Are Central Bankers Truly Independent?
Chapter 15. An Astonishing Confession
Part 4. Who will save the central banks?
Chapter 16. The Black Hole
Chapter 17. Economic and Financial Consequences of NIRP and ZIRP
Chapter 18. Tina (There Is No Alternative)?
Chapter 19. The Central Banks: At the Core of The Next Crisis of Confidence
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