The crisis of risk : subprime debt and us financial power from 1944 to present
Author(s)
Bibliographic Information
The crisis of risk : subprime debt and us financial power from 1944 to present
Edward Elgar, c2021
- : hbk
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Note
Includes bibliographical references (p. 159-174) and index
Description and Table of Contents
Description
For the last decade, progressive scholars determined to understand the 2008 financial crisis have examined the growth of US subprime mortgage debt in the period leading up to the collapse and how government policy supported this accumulation. However, the long history of the subprime crisis, its connection to the patterns of financial risk designated by the postwar international monetary system, has been all too often overlooked.
Subsequently, the literature has considered the financial crisis as somehow disconnected from the specific evolution of the Bretton Woods financial system and the perceived safety of US Treasury bonds. With this, an important opportunity has been lost to develop critical political economy literature on financial markets. This book explores the long history of the subprime crisis through an original theoretic lens that sheds light on the institutional basis of global debt markets and the role of US Treasury debt in the international financial system.
This book will introduce new ideas and appeal to university students and faculty interested in learning more about US financial power and the origins of the subprime crisis.
Table of Contents
Contents: Preface 1. Subprime markets in global capitalism: history and contradictions PART I ABSTRACT RISK AND US FINANCIAL POWER 2. Risking finance 3. The power of debt PART II THE DEEP HISTORY OF THE SUBPRIME CRISIS 4. International bonds and the Bretton Woods era 5. Volcker and the dollar standard 6. Bonding global markets 7. Regulating risk PART III THE SUBPRIME CRISIS AS THE CRISIS OF RISK 8. The risk crisis 9. Management renewed 10. The future of risk in the era of authoritarian capitalism References Index
by "Nielsen BookData"