Edited by Gerald A. Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts-Amherst, US

’. . . the book's combination of breadth and depth suggests it will remain a standard work for heterodox students for some time. It quite correctly puts financialization at the center of the political economy of our time. I highly recommend Financialization and the World Economy to scholars in the field.'

• Contents: Preface PART I: INTRODUCTION AND DISTRIBUTIONAL IMPLICATIONS 1. Introduction: Financialization and the World Economy Gerald A. Epstein2. Costs and Benefits of Neoliberalism: A Class Analysis Gérard Duménil and Dominique Lévy3. The Rise of Rentier Incomes in OECD Countries: Financialization, Central Bank Policy and Labor Solidarity Gerald A. Epstein and Arjun JayadevPART II: FINANCIALIZATION AND THE US ECONOMY 4. The Neoliberal Paradox: The Impact of Destructive Product Market Competition and ‘Modern’ Financial Markets on Nonfinancial Corporation Performance in the Neoliberal Era James Crotty5. The Late 1990s’ US Bubble: Financialization in the Extreme Robert W. Parenteau6. Derivatives Markets: Sources of Vulnerability in US Financial Markets Randall DoddPART III: FINANCIALIZATION AND THE INTERNATIONAL MONETARY SYSTEM 7. Financial Globalization, Exchange Rates and International Trade Robert A. Blecker8. The Eurodollar Market and the New Era of Global Financialization Edwin Dickens9. The Role of the International Monetary System in Financialization Jane D’AristaPART IV: CASE STUDIES OF FINANCIALIZATION AND ECONOMIC CRISIS 10. The Rise of the New Money Doctors in Mexico Sarah Babb11. The Making of the Turkish Financial Crisis Yilmaz Akyüz and Korkut Boratav12. The Recent Crisis – and Recovery – of the Argentine Economy: Some Elements and Background Arturo O’Connell13. International Liquidity and Growth Fluctuations in Brazil Nelson H. Barbosa-Filho14. The Causes and Consequences of Neoliberal Restructuring in Post-Crisis Korea James Crotty and Kang-Kook LeePART IV: POLICY PERSPECTIVES 15. Averting Crisis? Assessing Measures to Manage Financial Integration in Emerging Economies Ilene Grabel16. Why International Capital Mobility Should be Curbed and How it Could be Done David Felix17. Applying a Securities Transactions Tax to the US: Design Issues, Market Impact and Revenue Estimates Robert PollinIndex

Edited by Gerald A. Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts-Amherst, US

’. . . the book's combination of breadth and depth suggests it will remain a standard work for heterodox students for some time. It quite correctly puts financialization at the center of the political economy of our time. I highly recommend Financialization and the World Economy to scholars in the field.'

• Contents: Preface PART I: INTRODUCTION AND DISTRIBUTIONAL IMPLICATIONS 1. Introduction: Financialization and the World Economy Gerald A. Epstein2. Costs and Benefits of Neoliberalism: A Class Analysis Gérard Duménil and Dominique Lévy3. The Rise of Rentier Incomes in OECD Countries: Financialization, Central Bank Policy and Labor Solidarity Gerald A. Epstein and Arjun JayadevPART II: FINANCIALIZATION AND THE US ECONOMY 4. The Neoliberal Paradox: The Impact of Destructive Product Market Competition and ‘Modern’ Financial Markets on Nonfinancial Corporation Performance in the Neoliberal Era James Crotty5. The Late 1990s’ US Bubble: Financialization in the Extreme Robert W. Parenteau6. Derivatives Markets: Sources of Vulnerability in US Financial Markets Randall DoddPART III: FINANCIALIZATION AND THE INTERNATIONAL MONETARY SYSTEM 7. Financial Globalization, Exchange Rates and International Trade Robert A. Blecker8. The Eurodollar Market and the New Era of Global Financialization Edwin Dickens9. The Role of the International Monetary System in Financialization Jane D’AristaPART IV: CASE STUDIES OF FINANCIALIZATION AND ECONOMIC CRISIS 10. The Rise of the New Money Doctors in Mexico Sarah Babb11. The Making of the Turkish Financial Crisis Yilmaz Akyüz and Korkut Boratav12. The Recent Crisis – and Recovery – of the Argentine Economy: Some Elements and Background Arturo O’Connell13. International Liquidity and Growth Fluctuations in Brazil Nelson H. Barbosa-Filho14. The Causes and Consequences of Neoliberal Restructuring in Post-Crisis Korea James Crotty and Kang-Kook LeePART IV: POLICY PERSPECTIVES 15. Averting Crisis? Assessing Measures to Manage Financial Integration in Emerging Economies Ilene Grabel16. Why International Capital Mobility Should be Curbed and How it Could be Done David Felix17. Applying a Securities Transactions Tax to the US: Design Issues, Market Impact and Revenue Estimates Robert PollinIndex

Edited by Gerald A. Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts-Amherst, US

’. . . the book's combination of breadth and depth suggests it will remain a standard work for heterodox students for some time. It quite correctly puts financialization at the center of the political economy of our time. I highly recommend Financialization and the World Economy to scholars in the field.'

• Contents: Preface PART I: INTRODUCTION AND DISTRIBUTIONAL IMPLICATIONS 1. Introduction: Financialization and the World Economy Gerald A. Epstein2. Costs and Benefits of Neoliberalism: A Class Analysis Gérard Duménil and Dominique Lévy3. The Rise of Rentier Incomes in OECD Countries: Financialization, Central Bank Policy and Labor Solidarity Gerald A. Epstein and Arjun JayadevPART II: FINANCIALIZATION AND THE US ECONOMY 4. The Neoliberal Paradox: The Impact of Destructive Product Market Competition and ‘Modern’ Financial Markets on Nonfinancial Corporation Performance in the Neoliberal Era James Crotty5. The Late 1990s’ US Bubble: Financialization in the Extreme Robert W. Parenteau6. Derivatives Markets: Sources of Vulnerability in US Financial Markets Randall DoddPART III: FINANCIALIZATION AND THE INTERNATIONAL MONETARY SYSTEM 7. Financial Globalization, Exchange Rates and International Trade Robert A. Blecker8. The Eurodollar Market and the New Era of Global Financialization Edwin Dickens9. The Role of the International Monetary System in Financialization Jane D’AristaPART IV: CASE STUDIES OF FINANCIALIZATION AND ECONOMIC CRISIS 10. The Rise of the New Money Doctors in Mexico Sarah Babb11. The Making of the Turkish Financial Crisis Yilmaz Akyüz and Korkut Boratav12. The Recent Crisis – and Recovery – of the Argentine Economy: Some Elements and Background Arturo O’Connell13. International Liquidity and Growth Fluctuations in Brazil Nelson H. Barbosa-Filho14. The Causes and Consequences of Neoliberal Restructuring in Post-Crisis Korea James Crotty and Kang-Kook LeePART IV: POLICY PERSPECTIVES 15. Averting Crisis? Assessing Measures to Manage Financial Integration in Emerging Economies Ilene Grabel16. Why International Capital Mobility Should be Curbed and How it Could be Done David Felix17. Applying a Securities Transactions Tax to the US: Design Issues, Market Impact and Revenue Estimates Robert PollinIndex