Real World Banking and Finance

Edited by Bill Barclay, Doug Orr, Mechthild Schrooten, Chris Sturr,
John Summa, and the Dollars & Sense Collective

Edition:

8th

Date of publication:

August 2022 | NOW AVAILABLE!

ISBN:

978-1-939402-63-9

Price:

$40.50

Pages:

406

• About
• Table of Contents

• Chapter 1: Money, The Federal Reserve, and the Economy
  • Introduction
  • 1.1 What is Money? Doug Orr
  • 1.2 The "Bond Market" Versus the Rest of Us Doug Orr and Ellen Frank
  • 1.3 The New Tools of the Fed John Miller
  • 1.4 Dollar Dominance Arthur MacEwan
  • 1.5 Is “MMT” an Answer for the U.S.? Arthur MacEwan
  • 1.6 Cryptocurrencies Will Not Save Us Hadas Thier
• Chapter 2: Financialization and Neoliberalism
  • Introduction
  • 2.1 Financialization: A Primer Ramaa Vasudevan
  • 2.2 The Origins and Crisis of Neoliberalism David Kotz
  • 2.3 Neoliberal Capitalism, Its Crisis, and What Comes Next David Kotz
  • 2.4 Financialization and Inequality Arthur MacEwan
  • 2.5 Financialization, Neoliberalism, and Neo-Fascism Gerald Epstein
  • 2.6 Neoliberalism as Neocolonialism Jayati Ghosh
• Chapter 3: The Banking and Finance Industry
  • Introduction
  • 3.1 From “Boring” Banking to “Roaring” Banking An Interview with Gerald Epstein
  • 3.2 Not Too Big Enough Rob Larson
  • 3.3 Big Bank Immunity: When Will We Crack Down? Dean Baker
  • 3.4 Hedge Funds Arthur MacEwan
  • 3.5 How Private Equity Works and Why It Matters Eileen Applebaum and Rosemary Batt
• Chapter 4 · Financialization And the Rest of the Economy
  • Introduction
  • 4.1 Boeing Hijacked by Shareholders and Execs! Marie Christine Duggan
  • 4.2 Monetary Policy, Financialization, and the Loss of U.S. Manufacturing Jobs Marie Christine Duggan
  • 4.3 Rising Asset Bubbles Distort the Industrial Base Marie Christine Duggan
  • 4.4 Diamond Turning Innovation in the Age of Impatient Finance Marie Christine Duggan
  • 4.5 The Bankruptcy Games Bill Barclay
  • 4.6 Caring by the Dollar: Nursing Homes, Private Equity, and Covid-19 Bill Barclay
• Chapter 5: Financial Markets
  • Introduction
  • 5.1 The Big Casino: How to Rein In Stock Market Speculation Doug Orr
  • 5.2 The Lure of “Democratizing” Finance John SUmma
  • 5.3 “Pressure from the Bond Market” Arthur MacEwan
  • 5.4 Transaction Tax: Sand in the Wheels, Not in the Face John Miller
  • 5.5 The Stock Market and the Coronavirus Crisis John Miller
  • 5.6 Concentration of Stock Ownership Ed Ford
  • 5.7 Stock Buybacks: Any Positive Outcome? Arthur MacEwan
  • 5.8 Is “Short Selling” Bad for the Economy? Arthur MacEwan
  • 5.9 From Public Meat Markets to Derivatives Markets Polly Cleveland
  • 5.10 From Grain Futures to the Great Financial Crisis and Beyond Bill Barclay
  • 5.11 Risky Business: Derivatives and Global Agriculture Sasha Breger Bush
  • 5.12 The Swaps Crisis Darwin BondGraham
• Chapter 6: Financial Crises
  • Introduction
  • 6.1 Crisis and Neoliberal Capitalism David Kotz
  • 6.2 We’re All Minskyites Now Robert Pollin
  • 6.3 Bubble, Bubble, Toil and Trouble: Keynes and Financial Instability Alejandro Reuss
  • 6.4 That ’70s Crisis Alejandro Reuss
  • 6.5 Inexcusable: “Dr. Phil’s” Financial Recession John Miller
  • 6.6 The Greed Fallacy Arthur MacEwan
  • 6.7 What Were the Bankers Thinking? Arthur MacEwan
  • 6.8 Securitization, the Bubble, and the Crisis Arthur MacEwan
  • 6.9 The Bailouts Revisited Marty Wolfson
  • 6.10 How Have Banks Managed to Repay the Bailout? Arthur MacEwan
  • 6.11 The Fed and the Coronavirus Crisis Gerald Epstein and John Miller
  • 6.12 The Coronavirus Consensus: Spend, Spend, Spend Gerald Epstein
  • 6.13 It’s Time to Ditch “Pay-For” Politics Yva Nersisian and L. Randall Wray
  • 6.14 Inflation Is Surging: Round Up the Usual Scapegoats John Miller
• Chapter 7: Debt and Finance
  • Introduction
  • 7.1 A Primer on Debt Bruce Parry
  • 7.2 The Debt Delusion: Living Within Our Means and Other Fallacies John F. Weeks
  • 7.3 Three Million Americans Are Debt Poor Steven Pressman and Robert Scott
  • 7.4 The Corinthian Crisis Christopher J. Cooper
  • 7.5 The Student Loan Crisis and the Debtfare State Susanne Soederberg
  • 7.6 Why Is Student Debt Cancellation a Big Deal? Arthur MacEwan
  • 7.7 Puerto Rico’s Colonial Debt José A. Laguarta Ramírez
• Chapter 8: Mortgages, Consumer Credit, and Predatory Lending
  • Introduction
  • 8.1 America’s Growing Fringe Economy Howard Karger
  • 8.2 Inside the World of Check-Cashing Debora M. Figart and Thomas Barr
  • 8.3 The Housing Bubble Was No Accident Doug Orr
  • 8.4 The Great Recession in Black Wealth Jeannette Wicks-Lim
  • 8.5 Libor Rigging Redux John Summa
  • 8.6 Ponzi Schemes and Speculative Bubbles Arthur MacEwan
• Chapter 9: Retirement Finance
  • 9.1 Social Security Q & A: Separating Fact from Fiction Doug Orr
  • 9.2 African Americans and Social Security William E. Spriggs
  • 9.3 The $17 Trillion Delusion Marty Wolfson
  • 9.4 Resusitating Private Social Security Accounts John MIller
  • 9.5 Selling Out Workers and Retirees to Their Financial Advisers John MIller
  • 9.6 What Happened to Defined-Benefit Pensions? Arthur MacEwan
  • 9.7 Detroit’s Bankruptcy Crisis: Pensions in the Balance Katherine Sciacchitano
  • 9.8 Why We Need Universal Pensions Katherine Sciacchitano
• Chapter 10: The International Financial System
  • 10.1 The Giant Pool of Money Arthur MacEwan
  • 10.2 SWIFT, the U.S. Dollar, and the Global Political Economy of Trade Bill Barclay
  • 10.3 Microcredit and Women’s Poverty Susan F. Feiner and Drucilla K. Barker
  • 10.4 Ex-Im Bank: Crony Capitalism, or Plain-Old Capitalism? Arthur MacEwan
  • 10.5 The International Monetary Fund and the World Bank The D&S Collective
  • 10.6 No Blank Check for Development Banks Kevin P. Gallagher and Jöaut;rg Haas
  • 10.7 Financing Needs of Developing Countries Esra Uğurlu
• Chapter 11: Resistance and Alternatives
  • 11.1 A Case for Public Ownership Arthur MacEwan
  • 11.2 The Public Banking Alternative Rick Girling
  • 11.3 Financing the New Economy Abby Scher
  • 11.4 Leveraging Financial Markets for Social Justice Doug Orr
  • 11.5 Making Carbon Visible to Investors (and Us!) Doug Orr
  • 11.6 Underbanked and Overcharged Deborah M. Figart
  • 11.7 Taking the Bliders Off Susan Schroeder
• Contributors