Print page

Finance, Growth and Inequality

Post-Keynesian Perspectives Edited by Louis-Philippe Rochon, Full Professor of Economics, Laurentian University, Canada and Founding Editor Emeritus, Review of Keynesian Economics, and co-editor, Review of Political Economy and Virginie Monvoisin, Associate Professor, Grenoble Ecole de Management, France
This book brings together some leading and emerging scholars who bring an alternative view on some of the most pressing issues of today. In addition to key concepts in post-Keynesian and heterodox economics, the authors also explore financialization, debt, income distribution, and policies, and the emerging threat of dualism. Policy makers and scholars alike will find the book a much need addition to the field.
Extent: c 336 pp
Hardback Price: $155.00 Web: $139.50
Publication Date: September 2019
ISBN: 978 1 78897 368 7
Availability: Not yet published
$0.00

Buy the E-Book @ paperback price

  • eISBN: 978 1 78897 369 4

Join our mailing list

  • Economics and Finance
  • Financial Economics and Regulation
  • Post-Keynesian Economics
This book introduces readers to some key concepts in post-Keynesian and heterodox economics, in particular the importance of finance in relation to income distribution and growth. The book explores various aspects of financialization, such as its role in pension funds, and explores its consequences especially in developing economies.

Readers will recognize other key concepts such as the role of banks, and the effectiveness of monetary policy and its transmission mechanism, and unconventional policies, such as quantitative easing. Considerable space is given to income inequality, a topic that has become increasingly important. Authors explore the growing importance of household debt, and policies that could address inequality. Finally, the book discusses the rising importance of dualism, a much under-researched topic in heterodox economics.

Policy makers and scholars alike, especially those in Heterodox Economics, will find the book a much need addition to the field.
‘This invaluable collection brings together the work of the world’s leading Post-Keynesian thinkers. With great verve and originality the contributors take on most of the pressing theoretical and policy issues or our time—finance and financialization, monetary policy, economic growth, distribution, and economic dualism. This book belongs on the shelf of academic macroeconomists, their students, and every politician seeking insight and inspiration that will help get us out of the present morass.’
– Ilene Grabel, University of Denver, US
Contributors include: A. Bhattacharjee, B. Bonizzi, P.G. Bortz, H. Cömert, H. de Largentaye, Ó. Dejuán, H. Delargentaye, R. du Tertre, C. Duarte, G. Dymski, A. Girón, D. Guevara, D. Leadbeater, J.S.L. McCombie, G. Michelena, V. Monvoisin, M. Nagel, J. Perraton, N. Perry, L.-P. Rochon, C. Schönerwald, M. Solorza, M. Spanò, H. Szymborska, M. Thiemann, F. Toledo


Contents:

Introduction
Louis-Philippe Rochon and Virginie Monvoisin

PART I POST-KEYNESIAN VIEWS ON FINANCE AND FINANCIALIZATION
1. Measuring finance for the economy and finance for finance
Marcello Spanò

2. Economic limits of the originate to distribute model of banking
Óscar Dejuán and John S. L. McCombie

3. Private pension funds in emerging economies: From broken promises to financialisation
Bruno Bonizzi and Diego Guevara

4. Financialization and bancarization of Argentina, Brazil and Mexico: the financial services transformations as from the post-crisis period
Alicia Girón and Marcia Solorza

PART II POST-KEYNESIAN VIEWS ON Distribution and Growth
5. Macroeconomic implications of inequality and household debt: European evidence
Jonathan Perraton

6. How can policy tackle inequality in 21st century?
Hanna Szymborska

7. Economic policies and growth regimes in France (1974-2016)
Hélène de Largentaye and Renaud du Tertre

8. Non-conventional fiscal rules in a Kaleckian model of growth and income distribution with external debt
Pablo G. Bortz, Gabriel Michelena, and Fernando Toledo

PART III POST-KEYNESIAN VIEWS ON Monetary Policy
9. The transmission of monetary policy in the US: Testing the credit channel and the role of endogenous money
Nathan Perry and Carlos Schönerwald

10. Corporate debt expansion in emerging countries after 2008: Profile, determinants and policy implications
Cristiano Duarte

11. From trillemma to dilemma: monetary policy after Bretton Woods
Hasan Cömert

12. Shifting frames of the expert debate: Quantitative Easing, international Macro-finance and the potential impact of Post-Keynesian Scholarship
Max Nagel and Matthias Thiemann


PART IV SOME NOTES ON THE DUAL ECONOMY
Introduction
Helene Delargentaye

13. Dualism: more or less?
David Leadbeater

14. Do the robots come to liberate us or to deepen our inequality? The uncertain macrostructural foundations of the robotic age
Arpita Bhattacharjee and Gary Dymski

Index