Description
| Product ID: | 9781839765261 |
| Product Form: | Paperback / softback |
| Country of Manufacture: | GB |
| Title: | The Fall and Rise of American Finance |
| Subtitle: | from J.P. Morgan to Blackrock |
| Authors: | Author: Scott Aquanno, Stephen Maher |
| Page Count: | 272 |
| Subjects: | Centrist democratic ideologies, Liberalism & centre democratic ideologies, International economics, History of specific companies / corporate history, International economics, History of specific companies / corporate history, USA |
| Description: | Select Guide Rating How Wall Street concocted a more volatile and dangerous capitalism Traces the fall and rise of America''s most powerful capitalists This book tells the story of the fall and rise of financial power in American capitalism, from the collapse of the J.P. Morgan''s vast empire to the rise of finance behemoth BlackRock. It traces the making and remaking of the American ruling class as the postwar "Golden Age" of industrial hegemony gave way to the powerful revival of finance in the neoliberal period.Following the 2008 crisis, this remaking culminated in the reorganization of our financial system around the unprecedented economic power of the "Big Three" asset management firms.Maher and Aquanno elucidate the transformations of ruling class power across these periods, highlighting how transitions from one phase to another were shaped by profound crises and marked by the restructuring of corporations and the state.Contrary to what has become the common sense view, advanced by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the decline of capitalism, the hollowing out of the "real" economy, or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor - all with the support of an increasingly authoritarian state. |
| Imprint Name: | Verso Books |
| Publisher Name: | Verso Books |
| Country of Publication: | GB |
| Publishing Date: | 2024-02-13 |