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Class And Inequality In The Time Of Finance
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Book Synopsis Class and Inequality in the Time of Finance by : Niamh Mulcahy
Download or read book Class and Inequality in the Time of Finance written by Niamh Mulcahy and published by Routledge. This book was released on 2021-09-09 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the effects of the gradual liberalisation of capital markets and the expansion of consumer credit on poorer households in the United Kingdom, with particular attention to the precariousness caused by a lack of savings and a reliance on debt. Asking what it means for poorer working individuals and households to be subject to the demands of finance, the author draws on Michel Foucault’s theory of subjectivation as well as Louis Althusser’s interest in class, actively theorising the constraints of low income or precarious work on financial planning, alongside the reorganisation or rollback of government benefits. A contribution to our understanding of the ways in which financial concerns deepen and expand economic inequality, Class and Inequality in the Time of Finance shows how finance stratifies individual subjects rather than simply individualising and separating them. As such, it will appeal to scholars of sociology with interests in neoliberalism, economic austerity, and consumer credit and debt.
Book Synopsis Class and Inequality in the Time of Finance by : Niamh Mulcahy
Download or read book Class and Inequality in the Time of Finance written by Niamh Mulcahy and published by Routledge. This book was released on 2021-09-09 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the effects of the gradual liberalisation of capital markets and the expansion of consumer credit on poorer households in the United Kingdom, with particular attention to the precariousness caused by a lack of savings and a reliance on debt. Asking what it means for poorer working individuals and households to be subject to the demands of finance, the author draws on Michel Foucault’s theory of subjectivation as well as Louis Althusser’s interest in class, actively theorising the constraints of low income or precarious work on financial planning, alongside the reorganisation or rollback of government benefits. A contribution to our understanding of the ways in which financial concerns deepen and expand economic inequality, Class and Inequality in the Time of Finance shows how finance stratifies individual subjects rather than simply individualising and separating them. As such, it will appeal to scholars of sociology with interests in neoliberalism, economic austerity, and consumer credit and debt.
Book Synopsis Engine of Inequality by : Karen Petrou
Download or read book Engine of Inequality written by Karen Petrou and published by John Wiley & Sons. This book was released on 2021-03-03 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
Book Synopsis Income Inequality by : Janet C. Gornick
Download or read book Income Inequality written by Janet C. Gornick and published by Stanford University Press. This book was released on 2014-08-01 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: This state-of-the-art volume presents comparative, empirical research on a topic that has long preoccupied scholars, politicians, and everyday citizens: economic inequality. While income and wealth inequality across all populations is the primary focus, the contributions to this book pay special attention to the middle class, a segment often not addressed in inequality literature. Written by leading scholars in the field of economic inequality, all 17 chapters draw on microdata from the databases of LIS, an esteemed cross-national data center based in Luxembourg. Using LIS data to structure a comparative approach, the contributors paint a complex portrait of inequality across affluent countries at the beginning of the 21st century. The volume also trail-blazes new research into inequality in countries newly entering the LIS databases, including Japan, Iceland, India, and South Africa.
Book Synopsis The Privileged Poor by : Anthony Abraham Jack
Download or read book The Privileged Poor written by Anthony Abraham Jack and published by Harvard University Press. This book was released on 2019-03-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: An NPR Favorite Book of the Year “Breaks new ground on social and educational questions of great import.” —Washington Post “An essential work, humane and candid, that challenges and expands our understanding of the lives of contemporary college students.” —Paul Tough, author of Helping Children Succeed “Eye-opening...Brings home the pain and reality of on-campus poverty and puts the blame squarely on elite institutions.” —Washington Post “Jack’s investigation redirects attention from the matter of access to the matter of inclusion...His book challenges universities to support the diversity they indulge in advertising.” —New Yorker The Ivy League looks different than it used to. College presidents and deans of admission have opened their doors—and their coffers—to support a more diverse student body. But is it enough just to admit these students? In this bracing exposé, Anthony Jack shows that many students’ struggles continue long after they’ve settled in their dorms. Admission, they quickly learn, is not the same as acceptance. This powerfully argued book documents how university policies and campus culture can exacerbate preexisting inequalities and reveals why some students are harder hit than others.
Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Download or read book Divested written by Ken-Hou Lin and published by . This book was released on 2020 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Divested documents how the ascendance of finance is a fundamental cause of economic inequality in the United States. This wide-ranging and comprehensive account demonstrates the many ways financial sector has reshaped the economy, leaving the average American adrift in a world driven by the maximization of financial profit.
Book Synopsis The Code of Capital by : Katharina Pistor
Download or read book The Code of Capital written by Katharina Pistor and published by Princeton University Press. This book was released on 2020-11-03 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. In this revealing book, Katharina Pistor argues that the law selectively "codes" certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital - and lawyers are the keepers of the code. Pistor describes how they pick and choose among different legal systems and legal devices for the ones that best serve their clients' needs, and how techniques that were first perfected centuries ago to code landholdings as capital are being used today to code stocks, bonds, ideas, and even expectations--assets that exist only in law. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the different ways that debt, complex financial products, and other assets are coded to give financial advantage to their holders. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it."--Provided by publisher.
Book Synopsis Inequality in Financial Inclusion and Income Inequality by : Goksu Aslan
Download or read book Inequality in Financial Inclusion and Income Inequality written by Goksu Aslan and published by International Monetary Fund. This book was released on 2017-11-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the link between gender inequality in financial inclusion and income inequality, with three contributions to the recent literature. First, using a micro-dataset covering 146,000 individuals in over 140 countries, we construct novel, synthetic indices of the intensity of financial inclusion at the individual and country level. Second, we derive the distribution of individual financial access “scores” across countries to document a “Kuznets”-curve in financial inclusion. Third, cross-country regressions confirm that our measure of inequality in financial access is significantly related to income inequality, above and beyond other factors previously highlighted in the literature.
Book Synopsis Macroeconomic Inequality from Reagan to Trump by : Lance Taylor
Download or read book Macroeconomic Inequality from Reagan to Trump written by Lance Taylor and published by Cambridge University Press. This book was released on 2020-08-20 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: An innovative approach to measuring inequality providing the first full integration of distributional and macro level data for the US.
Book Synopsis Inequality, Class, and Economics by : Eric Schutz
Download or read book Inequality, Class, and Economics written by Eric Schutz and published by NYU Press. This book was released on 2022-01-24 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The COVID-19 pandemic exposed the economic inequalities pervading every aspect of society - and then multiplied them to a staggering degree. In Inequality, Class, and Economics, Eric Schutz illuminates the pillars undergirding the monstrous polarities which define our times revealing them as the structures of power that constitute the foundations of the class system of today's capitalism. Employers' power is the linchpin of that system, but the power of professionals in all fields, the power exerted by some businesses over others, political power, and the power of cultural institutions - especially mass media and education - are also critical for the class system today. Each of these social power structures is examined closely and shown both to sustain, and to be sustained by, economic inequality. Employing both traditional and novel approaches to public policy, Inequality, Class, and Economics denounces economists' studied avoidance of the problem of class as a system of inequality based in unequal opportunity, and exhorts us to tackle the heart of the problem at long last."--Back cover.
Author :Brian Keeley Publisher :Org. for Economic Cooperation & Development ISBN 13 :9789264246003 Total Pages :120 pages Book Rating :4.2/5 (46 download)
Download or read book Income Inequality written by Brian Keeley and published by Org. for Economic Cooperation & Development. This book was released on 2015-12-21 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Income inequality is rising. A quarter of a century ago, the average disposable income of the richest 10% in OECD countries was around seven times higher than that of the poorest 10%; today, it's around 9½ times higher. Why does this matter? Many fear this widening gap is hurting individuals, societies and even economies. This book explores income inequality across five main headings. It starts by explaining some key terms in the inequality debate. It then examines recent trends and explains why income inequality varies between countries. Next it looks at why income gaps are growing and, in particular, at the rise of the 1%. It then looks at the consequences, including research that suggests widening inequality could hurt economic growth. Finally, it examines policies for addressing inequality and making economies more inclusive.
Book Synopsis The Crisis of the Middle-Class Constitution by : Ganesh Sitaraman
Download or read book The Crisis of the Middle-Class Constitution written by Ganesh Sitaraman and published by Vintage. This book was released on 2017-03-14 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this original, provocative contribution to the debate over economic inequality, Ganesh Sitaraman argues that a strong and sizable middle class is a prerequisite for America’s constitutional system. A New York Times Notable Book of 2017 For most of Western history, Sitaraman argues, constitutional thinkers assumed economic inequality was inevitable and inescapable—and they designed governments to prevent class divisions from spilling over into class warfare. The American Constitution is different. Compared to Europe and the ancient world, America was a society of almost unprecedented economic equality, and the founding generation saw this equality as essential for the preservation of America’s republic. Over the next two centuries, generations of Americans fought to sustain the economic preconditions for our constitutional system. But today, with economic and political inequality on the rise, Sitaraman says Americans face a choice: Will we accept rising economic inequality and risk oligarchy or will we rebuild the middle class and reclaim our republic? The Crisis of the Middle-Class Constitution is a tour de force of history, philosophy, law, and politics. It makes a compelling case that inequality is more than just a moral or economic problem; it threatens the very core of our constitutional system.
Book Synopsis Inequality, Leverage and Crises by : Mr.Michael Kumhof
Download or read book Inequality, Leverage and Crises written by Mr.Michael Kumhof and published by International Monetary Fund. This book was released on 2010-11-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where these features arise endogenously as a result of a shift in bargaining powers over incomes. A financial crisis can reduce leverage if it is very large and not accompanied by a real contraction. But restoration of the lower income group's bargaining power is more effective.
Book Synopsis The 9.9 Percent by : Matthew Stewart
Download or read book The 9.9 Percent written by Matthew Stewart and published by Simon and Schuster. This book was released on 2021-10-12 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: A “brilliant” (The Washington Post), “clear-eyed and incisive” (The New Republic) analysis of how the wealthiest group in American society is making life miserable for everyone—including themselves. In 21st-century America, the top 0.1% of the wealth distribution have walked away with the big prizes even while the bottom 90% have lost ground. What’s left of the American Dream has taken refuge in the 9.9% that lies just below the tip of extreme wealth. Collectively, the members of this group control more than half of the wealth in the country—and they are doing whatever it takes to hang on to their piece of the action in an increasingly unjust system. They log insane hours at the office and then turn their leisure time into an excuse for more career-building, even as they rely on an underpaid servant class to power their economic success and satisfy their personal needs. They have segregated themselves into zip codes designed to exclude as many people as possible. They have made fitness a national obsession even as swaths of the population lose healthcare and grow sicker. They have created an unprecedented demand for admission to elite schools and helped to fuel the dramatic cost of higher education. They channel their political energy into symbolic conflicts over identity in order to avoid acknowledging the economic roots of their privilege. And they have created an ethos of “merit” to justify their advantages. They are all around us. In fact, they are us—or what we are supposed to want to be. In this “captivating account” (Robert D. Putnam, author of Bowling Alone), Matthew Stewart argues that a new aristocracy is emerging in American society and it is repeating the mistakes of history. It is entrenching inequality, warping our culture, eroding democracy, and transforming an abundant economy into a source of misery. He calls for a regrounding of American culture and politics on a foundation closer to the original promise of America.
Book Synopsis The Financial Diaries by : Jonathan Morduch
Download or read book The Financial Diaries written by Jonathan Morduch and published by Princeton University Press. This book was released on 2017-04-04 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the groundbreaking U.S. Financial Diaries project (http://www.usfinancialdiaries.org/), which follows the lives of 235 low- and middle-income families as they navigate through a year, the authors challenge popular assumptions about how Americans earn, spend, borrow, and save-- and they identify the true causes of distress and inequality for many working Americans.
Book Synopsis Politics and Capital by : John Attanasio
Download or read book Politics and Capital written by John Attanasio and published by Oxford University Press. This book was released on 2018-04-06 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about good government-especially ethical and fair government. Using both theoretical methods and practical political analysis, John Attanasio shows how recent Supreme Court decisions and campaign finance regulations map onto a pernicious and growing inequality in America. He puts forward a novel solution grounded in a new principle of personal autonomy. Looking at the transformation of wealth and political influence in America, this book demonstrates that the defining campaign finance cases such as Buckley v. Valeo and Citizens United have created a new constitutional arrangement that correlates with the dramatic rise in U.S. wealth and income inequality since the 1970s. The book goes on to show that this distorted income allocation has adversely affected demand, which may be spawning American economic stagnation. The solution Attanasio proposes is the principle of "distributive autonomy," sharply contrasting it with the individualism of modern libertarian ideas, which have given rise to the radical inequality that reduces, rather than enhances, autonomy. Good governance must be centrally concerned with the distribution of freedom for all: if my autonomy matters, so does yours. Valuing the autonomy of others is authentic autonomy. Distributive autonomy is necessary to ensure that participatory democracy retains its truly democratic elements, which may be a necessary condition for long-term, prosperous capitalism. A profound synthesis of theory and practice, Politics and Capital is crucial to understanding the ominous political and economic problems besetting twenty-first century America.
