Financialization and the World Economy

TL;DR: In this article, the authors present a case study of the financialization of both housing and the state in the Netherlands, showing that almost half of Dutch housing associations used derivatives, although most refrained from using them purely speculatively, and the largest of them all, Vestia, was an extreme case of what can happen when public goals are left to be realized by inadequately supervised and poorly managed private organizations.

TL;DR: In this article, the authors examine the West's response to financial crisis in the late 1990s and its implications for the rise and diffusion of international accounting standards from a theoretical perspective that blends institutional analysis and political economy.

TL;DR: In this paper, a critique of the increasingly prevalent argument that the late twentieth century saw a "financialisation" of capitalism anchored in the USA, the UK, and other leading Western economies is presented.

TL;DR: This article presented evidence that accounting (or flow-of-funds) macroeconomic models helped anticipate the credit crisis and economic recession, while equilibrium models ubiquitous in mainstream policy and research did not.

TL;DR: The authors showed that the large shocks that capital owners experienced during the Great Depression and World War II have had a permanent effect on top capital incomes and argued that steep progressive income and estate taxation may have prevented large fortunes from fully recovering from these shocks.

TL;DR: In this paper, the authors discuss the role of Bretton-woods and the endorsement of capital controls in the emergence of global finance and the slow and limited move to convertibility.

TL;DR: Greider's seminal bestseller "Secrets of the Temple" as discussed by the authors reveals how the US Federal Reserve operates and manipulates and the world's economy during the last eight crucial years.