Financialization is one of the most innovative concepts to emerge in the
field of political economy in the last three decades, although there is
no agreement on what exactly it is. Profiting Without Producing defines
financialization in terms of the fundamental conduct of non-financial
enterprises, banks and households. Its most prominent feature is the
rise of financial profit, in part extracted directly from households
through financial expropriation.
Financialized capitalism is prone to crises, none greater than the gigantic turmoil that began in 2007. Using abundant empirical data, the book establishes the causes of the crisis and discusses the options broadly available for controlling finance.
“This book is a profound and panoramic study of the most powerful but destructive economic force of our time – financialization. Based on a sophisticated modern reinterpretation of Marxist theories and in depth empirical analysis, the book comes up with bold and fundamental reform proposals. It is a must-read for anyone who is committed to progressive economic and social transformation.”
Profiting without Producing : How Finance Exploits Us All - Costas Lapavitsas
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