Understanding Financial Crises

<p>Incorporating a broad range of economic approaches <i>Understanding Financial Crises</i> explores the merits of various arguments and theories which have been used to explain the causes of financial crises. </p><p>The book explores eight of these different explanations: underconsumption debt accumulation financialization income inequality<b> </b>financial fragility tendency of rate of profit to fall human behavior and global imbalances. The introduction provides a brief overview of each argument along with a comparison of their relative merits. Each chapter then introduces one of the arguments explores a historical case and focuses on the insights that can be gleaned into the global crisis in 2007–2008. The book draws on insights from various schools of thought including post-Keynesian economics Marxist economics behavioral economics neoclassical economics and more to provide a pluralist overview of the causes of economic crises in general and the Great Recession in particular.</p><p>This book marks a significant contribution to the literature on economic and financial crises political economy and heterodox economics. It is well suited to academicians practitioners and financial analysts working within the relevant fields.</p>