In this paper, I explore the politically contested association between the degree of capitalism, captured by measures of economic freedom, and the risk and characteristics of economic crisis. After offering some brief theoretical considerations, I estimate the effects of economic freedom on...

Rezension (ekz): Der amerikanische Wirtschaftswissenschaftler (Nobelpreis 2001) hat auch in Deutschland viel Anerkennung mit seinen beiden Büchern zur Globalisierung gefunden. Er war zeitweise Clinton-Berater und Weltbankchef. Er beschreibt Mitte 2009 die grosse Rezession 2008 mit ihren...

The centrality of finance -- Financialization and social structures of accumulation -- Realism in financial economics -- The shadow of the financial system -- The coming apart -- Rescue and the limits of reform -- Nations, globalization, and financialization -- The present in history

The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...