Accounting For Crises A Marxist History Of American Accounting Theory C1929 2007

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Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007

Author : Rob Bryer
Publisher : World Scientific
ISBN 13 : 9811267081
Total Pages : 481 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007 by : Rob Bryer

Download or read book Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007 written by Rob Bryer and published by World Scientific. This book was released on 2023-07-07 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Historians have not convincingly explained modern capitalism's two major economic crises, the Great Depression of the 1930s, and the Global Financial Crisis (GFC) of 2008-2009. Accounting for Crises offers a new explanation, why both began and were more severe in the USA ('America'), based on an accounting interpretation of Marx's theory of crises. It explains their origins in capitalists' control of accumulation, which reveals important overlooked roles for Irving Fisher's accounting theory. This theory, by allowing discretion in accounts, in the context of falling rates of profit, encouraged 'swindling', overstating reported profits, and understating their risk, which facilitated and aggravated both crises. Framed by Fisher's theory, during the 1920s American accounting theorists justified discretion, which Creating the 'Big Mess' (the companion volume) concluded it management used to conservatively smooth earnings. Accounting for Crises shows that Fisher's theory , also underlays the popular new theory of investment that justified valuing shares using reported earnings, which encouraged their manipulation and legitimized 'speculation'. This, it argues, underlays America's exceptional late-1920s stock market boom, the 1929 Great Crash, and the depth and length of its Great Depression. Prominently associated with the boom, Fisher became unpopular after the crash, his name disappearing from public debate. Nevertheless, the book concludes, his theory hindered economic recovery, weakened 1930s reforms, undermined accounting regulation from the late-1930s, and following his rehabilitation from the late-1950s, underlies the Financial Accounting Standards Board's conceptual framework, which by allowing off-balance-sheet accounting for securitization-SPEs, fostered the 2007 'credit crunch' that triggered the 2008-2009 Global Financial Crisis (GFC).

Creating The "Big Mess": A Marxist History Of American Accounting Theory, C.1900-1929

Author : Rob Bryer
Publisher : World Scientific
ISBN 13 : 981124040X
Total Pages : 491 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Creating The "Big Mess": A Marxist History Of American Accounting Theory, C.1900-1929 by : Rob Bryer

Download or read book Creating The "Big Mess": A Marxist History Of American Accounting Theory, C.1900-1929 written by Rob Bryer and published by World Scientific. This book was released on 2021-07-15 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creating the 'Big Mess' and its sequel Accounting for Crises use Marx's theory of capitalism to explain why there is no generally accepted theory of financial accounting, and explore the consequences, by studying the history of American accounting theory from c.1900 to 2007. The answer, Creating the 'Big Mess', is first that while late-19th century British accounting principles, founded on the going-concern concept, provided an objective basis for holding management accountable to shareholders for its stewardship of capital, and were accepted by the nascent American profession, they are inchoate. Second, Irving Fisher's economic theory of accounting, based on the assertion that present value is the accountants' measurement ideal, which is subjective, framed early-20th century American accounting theory, which undermined British principles, making them incoherent. In an unregulated, pro-business environment, leading theorists, particularly Henry Rand Hatfield and William A. Paton, Jr., became authorities for management discretion, creating the 'big mess' Hatfield saw in late-1920s American accounting. Accounting for Crises examines the roles of Fisher's theory in promoting the speculation leading to the 1929 Great Crash, aggravating the Great Depression, hindering accounting regulation from the 1930s, producing the Financial Accounting Standard Board's conceptual framework, and facilitating the 2007-2008 Global Financial Crisis.

War On Wealth, The: Fact And Fiction In British Finance Since 1800

Author : Ranald Michie
Publisher : World Scientific
ISBN 13 : 9811270740
Total Pages : 376 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis War On Wealth, The: Fact And Fiction In British Finance Since 1800 by : Ranald Michie

Download or read book War On Wealth, The: Fact And Fiction In British Finance Since 1800 written by Ranald Michie and published by World Scientific. This book was released on 2023-03-21 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the divide that exists between the reality of finance and the image it projects. A functioning financial system is an essential feature of a modern economy, providing it with money, credit, capital, and investments. Conversely, those who provide this essential service are neither respected nor trusted. The causes and consequences of this divide is explored using the British experience from 1800 to the present, drawing upon a mixture of factual evidence and contemporary fiction. Nothing of this scale has been attempted before and this is the product of 50 years of research.

The Falling Rate of Profit and the Great Recession of 2007-2009

Author : Peter H. Jones
Publisher : BRILL
ISBN 13 : 9004398325
Total Pages : 272 pages
Book Rating : 4.0/5 (43 download)

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Book Synopsis The Falling Rate of Profit and the Great Recession of 2007-2009 by : Peter H. Jones

Download or read book The Falling Rate of Profit and the Great Recession of 2007-2009 written by Peter H. Jones and published by BRILL. This book was released on 2021-04-06 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Falling Rate of Profit and the Great Recession of 2007-2009, Peter H. Jones develops a new non-equilibrium interpretation of the labour theory of value Karl Marx builds in Capital. Applying this to US national accounting data, Jones shows that when measured correctly the profit rate falls in the lead up to the Great Recession, and for the main reason Marx identifies: the rising organic composition of capital. Jones also details a new theory of finance, which shows how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He discusses the implications of the analysis and Marx and Engels’ work generally for a democratic socialist strategy.

The Role of Accounting in the Stock Market Crash of 1929

Author : Gadis J. Dillon
Publisher :
ISBN 13 :
Total Pages : 296 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Role of Accounting in the Stock Market Crash of 1929 by : Gadis J. Dillon

Download or read book The Role of Accounting in the Stock Market Crash of 1929 written by Gadis J. Dillon and published by . This book was released on 1984 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Routledge Companion to Management and Organizational History

Author : Patricia Genoe McLaren
Publisher : Routledge
ISBN 13 : 1135918457
Total Pages : 414 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis The Routledge Companion to Management and Organizational History by : Patricia Genoe McLaren

Download or read book The Routledge Companion to Management and Organizational History written by Patricia Genoe McLaren and published by Routledge. This book was released on 2015-05-15 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of management and organizational history has reached a level of maturity that means an overview is long overdue. Written by a team of globally renowned scholars, this comprehensive companion analyses management and organizational history, reflecting on the most influential periods and highlighting gaps for future research. From the impact of the Cold War to Global Warming, it examines the field from a wide array of perspectives from humanities to the social sciences. Covering the entire spectrum of the field, this volume provides an essential resource for researchers of business and management.

Two Hundred Years of Accounting Research

Author : Richard Mattessich
Publisher : Routledge
ISBN 13 : 1135980586
Total Pages : 640 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis Two Hundred Years of Accounting Research by : Richard Mattessich

Download or read book Two Hundred Years of Accounting Research written by Richard Mattessich and published by Routledge. This book was released on 2007-11-15 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first and only book to offer a comprehensive survey of accounting research on a broad international scale for the last two centuries. Its main emphasis is on accounting research in the English, German, Italian, French and Spanish language areas; it also contains chapters dealing with research in Finland, the Netherlands, Scand

Accounting Theory

Author : William Andrew Paton
Publisher :
ISBN 13 :
Total Pages : 532 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Accounting Theory by : William Andrew Paton

Download or read book Accounting Theory written by William Andrew Paton and published by . This book was released on 1922 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Capital as Power

Author : Jonathan Nitzan
Publisher : Routledge
ISBN 13 : 1134022298
Total Pages : 853 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Capital as Power by : Jonathan Nitzan

Download or read book Capital as Power written by Jonathan Nitzan and published by Routledge. This book was released on 2009-06-02 with total page 853 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.

Reclaiming Marx's Capital

Author : Andrew Kliman
Publisher : Lexington Books
ISBN 13 : 9780739118528
Total Pages : 264 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Reclaiming Marx's Capital by : Andrew Kliman

Download or read book Reclaiming Marx's Capital written by Andrew Kliman and published by Lexington Books. This book was released on 2007 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Attempts to reclaim Marx's Capital from the myth of inconsistency. This book is intended for non-specialist readers, and shows that the inconsistencies are actually caused by misinterpretation; the temporal single-system interpretation eliminates all of the alleged inconsistencies.

Twilight Capitalism

Author : Murray E.G. Smith
Publisher : Fernwood Publishing
ISBN 13 : 1773634585
Total Pages : 305 pages
Book Rating : 4.7/5 (736 download)

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Book Synopsis Twilight Capitalism by : Murray E.G. Smith

Download or read book Twilight Capitalism written by Murray E.G. Smith and published by Fernwood Publishing. This book was released on 2021-04-01T00:00:00Z with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty-first-century capitalism has little more to offer than a menu of despair: pandemics, deepening inequality, worsening depression, runaway climate change, intensifying authoritarianism and escalating militarism. Twilight Capitalism offers a wide-ranging analysis of the origins, implications and scope of the “combined” social crisis of 2020 and beyond. A compelling case is made that Karl Marx’s critical analysis of capitalism, along with his program of class-struggle socialism, is essential to understanding and addressing the most important social, economic and ecological problems of our time.

Zombie Capitalism

Author : Chris Harman
Publisher : Haymarket Books
ISBN 13 : 1608461041
Total Pages : 426 pages
Book Rating : 4.6/5 (84 download)

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Book Synopsis Zombie Capitalism by : Chris Harman

Download or read book Zombie Capitalism written by Chris Harman and published by Haymarket Books. This book was released on 2010 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: We've been told for years that the capitalist free market is a self-correcting perpetual growth machine in which sellers always find buyers, precluding any major crisis in the system. Then the credit crunch of August 2007 turned into the great crash of September–October 2008, leading one apologist for the system, Willem Buiter, to write of "the end of capitalism as we knew it." As the crisis unfolded, the world witnessed the way in which the runaway speculation of the "shadow" banking system wreaked havoc on world markets, leaving real human devastation in its wake. Faced with the financial crisis, some economic commentators began to talk of "zombie banks"–financial institutions that were in an "undead state" and incapable of fulfilling any positive function but a threat to everything else. What they do not realize is that twenty-first century capitalism as a whole is a zombie system, seemingly dead when it comes to achieving human goals.

Invisible Leviathan

Author : Murray E. G. Smith
Publisher :
ISBN 13 : 9789004312197
Total Pages : 0 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Invisible Leviathan by : Murray E. G. Smith

Download or read book Invisible Leviathan written by Murray E. G. Smith and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Invisible Leviathan, Murray E.G. Smith refutes the main criticisms of Marx's theory of labour value and argues that human civilization is imperilled by the capitalist imperative to measure wealth in terms of 'abstract social labour' and money profit.

World in Crisis

Author : Guiglelmo Carchedi
Publisher : Haymarket Books
ISBN 13 : 1608461882
Total Pages : 507 pages
Book Rating : 4.6/5 (84 download)

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Book Synopsis World in Crisis by : Guiglelmo Carchedi

Download or read book World in Crisis written by Guiglelmo Carchedi and published by Haymarket Books. This book was released on 2018-10-01 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most mainstream economists view capitalism’s periodic breakdowns are nothing more than temporary aberrations from another wise unbroken path toward prosperity. For Marxists, this fundamental flaw has long been acknowledged as a central feature of the free market system. This groundbreaking volume brings together Marxist scholars from around the world to offer an empirically grounded defense of Marx’s law of profitability and its central role in explaining these capitalist crises. Gugliemo Carchedi has worked at the United Nations in New York and has taught at the University of Amsterdam. Michael Roberts has worked as an economist for over thirty years in the city of London financial center.

Mute Compulsion

Author : Søren Mau
Publisher : Verso Books
ISBN 13 : 1839763469
Total Pages : 353 pages
Book Rating : 4.8/5 (397 download)

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Book Synopsis Mute Compulsion by : Søren Mau

Download or read book Mute Compulsion written by Søren Mau and published by Verso Books. This book was released on 2023-01-31 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new Marxist theory of the abstract and impersonal forms of power in capitalism Despite insoluble contradictions, intense volatility and fierce resistance, the crisis-ridden capitalism of the 21st century lingers on. To understand capital’s paradoxical expansion and entrenchment amidst crisis and unrest, Mute Compulsion offers a novel theory of the historically unique forms of abstract and impersonal power set in motion by the subjection of social life to the profit imperative. Building on a critical reconstruction of Karl Marx’s unfinished critique of political economy and a wide range of contemporary Marxist theory, philosopher Søren Mau sets out to explain how the logic of capital tightens its stranglehold on the life of society by constantly remoulding the material conditions of social reproduction. In the course of doing so, Mau intervenes in classical and contemporary debates about the value form, crisis theory, biopolitics, social reproduction, humanism, logistics, agriculture, metabolism, the body, competition, technology and relative surplus populations.

Marxism and the Global Financial Crisis

Author : Hillel Ticktin
Publisher : Routledge
ISBN 13 : 1317985621
Total Pages : 182 pages
Book Rating : 4.3/5 (179 download)

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Book Synopsis Marxism and the Global Financial Crisis by : Hillel Ticktin

Download or read book Marxism and the Global Financial Crisis written by Hillel Ticktin and published by Routledge. This book was released on 2013-09-13 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book discusses the nature of Marxist theory of crisis and applies it to the global financial crisis which began in 2007. Is the contemporary crisis simply the usual periodic upturn and downturn or is there something more fundamental? Is there a structural crisis of capitalism, from which there is no immediate solution? Is capitalism managed and does it have a strategy? Is the financial crisis representative of a failure in capitalism itself to subject banks and other financial institutions to the overall economy? The book discusses Marx’s view on crises, as well as ideas on money and finance. It considers the different modern Marxist ideas on the causes of crises – falling rate of profit, disproportionality and underconsumption. It goes into detail as to the nature of the present crisis, its course and causes in a spirited and independent manner. Apart from the United States, it considers the situation in the two countries, in which protests erupted: Iran and Greece. They are taken as examples of the effect of the crisis on the country, the society and the economy as well as its politics. This book was originally published as a special issue of Critique.

Critical Theory

Author : Max Horkheimer
Publisher : A&C Black
ISBN 13 : 0826400833
Total Pages : 313 pages
Book Rating : 4.8/5 (264 download)

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Book Synopsis Critical Theory by : Max Horkheimer

Download or read book Critical Theory written by Max Horkheimer and published by A&C Black. This book was released on 1972-01-01 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays, written in the 1930s and 1940s, represent a first selection in English from the major work of the founder of the famous Institute for Social Research in Frankfurt. Horkheimer's writings are essential to an understanding of the intellectual background of the New Left and the to much current social-philosophical thought, including the work of Herbert Marcuse. Apart from their historical significance and even from their scholarly eminence, these essays contain an immediate relevance only now becoming fully recognized.