Debt Dynamics, Financialization and Shared Prosperity

This accessible book analyzes some of the key economic issues of our time through a structural Keynesian lens. Bringing together leading heterodox economists to honor the work of Thomas I. Palley, it demonstrates how financialization and neoliberal policy have reshaped capitalism, weakened shared prosperity and increased economic fragility.Using theoretical and empirical perspectives, contributors explore contemporary economic challenges such as inflation, financial instability, debt and stagnation. The book draws on evidence from both advanced and emerging economies, evaluating central concepts and the role of industrial structure in creating chronic instability to highlight that conventional policies, particularly austerity and deregulation, are inadequate. Examining structural Keynesian alternatives that emphasize the importance of employment, financial regulation, productive investment and broadly shared economic gains, alternative approaches are also proposed to macroeconomic policy.Debt Dynamics, Financialization and Shared Prosperity is an essential resource for scholars and students of economics, heterodox, post-Keynesian, structural Keynesian and political economy traditions. Macroeconomists, monetary economists, development economists and policymakers will similarly benefit from its highly relevant insights into policy reform.