Since the 1980s, the financial sector and its role have increased significantly. This development is often referred to as financialization. Authors working in the heterodox tradition have raised the question whether the changing role of finance manifests a new era in the history of capitalism. The present article first provides some general discussion on the term financialization and presents some stylized facts which highlight the rise of finance. Then, it proceeds by briefly reviewing the main arguments in the Marxian framework that proposedly lead to crisis. Next, two schools of thought in the Marxian tradition are reviewed which consider financialization as the latest stage of capitalism. They highlight the contradictions imposed by financialization that disrupt the growth process and also stress the fragilities imposed by the new growth regime. The two approaches introduced here are the Social Structure of Accumulation Theory and Monthly Review School. The subsequent part proceeds with the Post-Keynesian theory, first introducing potential destabilizing factors before discussing financialization and the finance-led growth regime. The last section provides a comparative summary. While the basic narrative in all approaches considered here is quite similar, major differences stem from the relationship between neoliberalism and financialization and, moreover, from the question of whether financialization can be considered cause or effect. 2016 Level: mittel Financialization and the crises of capitalism Petra Dühnhaupt Institute for International Political Economy Berlin Dieser Beitrag zeigt auf Basis einer Diskurs- und Metaphernanalyse des öffentlichen Diskurses von ÖkonomInnen zur Finanzkrise, dass hier Krankheitsmetaphern eine zentrale Bedeutung zukommen. Die Metapher der Krankheit impliziert die Vorstellung eines gesunden Normalzustandes der Wirtschaft, der als erstrebenswert bzw. wiederherstellenswürdig erscheint. Die Suggestion, dass die Krise von außen verursacht (eine “Infektion”) sei, ist eine spezifische Interpretation der Krise, die grundsätzlichen Zweifel am bestehenden (Finanz-)Kapitalismus kategorisch ausschließt. Krankheitsmetaphern können vielmehr als implizite politische Forderung interpretiert werden, wirksame Korrekturmaßnahmen zu suchen, um diese Störungen oder Infektionen rasch los zu werden bzw. heilen zu können, um dann schnell wieder zum "Normalzustand" funktionierender Marktmechanismen zurückkehren zu können. 2016 Level: mittel Wie krank ist unser Wirtschaftssystem? Krisen als Krankheiten im ökonomischen Diskurs Stephan Pühringer und Judith Egger Institute für Ökonomie und Philosophie Cusanus Hochschule The global financial crisis (GFC) led to increasing distrust in economic research and the economics profession, in the process of which the current state of economics and economic education in particular were heavily criticized. Against this background we conducted a study with undergraduate students of economics in order to capture their view of economic education. 2018 Level: leicht What economics education is missing: The real world Stephan Pühringer, Lukas Bäuerle Institute of Economics and Philosophy Cusanus Hochschule This module examines current socio-political issues through the lens of pluralism, that is pluralism of theory, pluralism of method and interdisciplinary pluralism 2020 Level: leicht Pluralist Economic Analysis Sophia Kuehnlenz Manchester Metropolitan University How exactly are persisting social inequalities and the operations of modern finance connected? Adam Tooze provides a detailed answer to a still relevant problem by focusing on the Great Financial Crisis and the role of the finance industry in the USA. 2019 Level: mittel Crashed: How a Decade of Financial Crises Changed the World Adam Tooze Paris School of Economics Marx Reloaded ist eine Kulturdokumentation die den Ideen des deutschen Sozialisten und Philosophen Karl Marx nachgeht und ihre Relevanz für das Verständnis der globalen Wirtschafts und Finanzkrise von 2008 2009 untersucht Diese Krise löste die tiefste weltweite Rezession seit 70 Jahren aus und veranlasste die US amerikanische Regierung mehr als … 2011 Level: leicht Marx Reloaded – Zerstört sich der Kapitalismus selbst? Jason Barker YouTube (ARTE) Crises are a key part of the history of the global economy. This lesson by Economy Studies introduces students to the crisis management theories of John Maynard Keyens by presenting them in the historical context of the Great Depression, the Post-War increase in the state in managing the economy, and the Energy Crisis of the 1970s. 2022 Level: leicht How to get away with a crisis? - Economy Studies   Economy Studies This self-paced free course by Perry Merhling guides you to his "Money View" approach that integrates the fields of economics and finance. The course can easily be understood by people interested people without technical economic knowledge or training as it is primarily a tool for analysis. Level: leicht Economics of Money and Banking Perry Mehrling Columbia University The world is still feeling reverberations from the financial crisis of 2008 foreseen by neither politicians nor economists The history of capitalism has been punctuated by major crises exposing the fragility of our entire economic system How has capitalism despite these ruptures managed to each time resurface more resilient and … Level: leicht The Global Financial Crisis Timothy Geithner; Andrew Metrick Yale University Understanding the financial crisis from four very different economic theories: Social Economics, Institutional Economics, Post Keynesian economics. Level: leicht Economics from a pluralist perspective Prof. Dr. Irene van Staveren, Prof. Dr. Rob van Tulder, Maria Dafnomili (PhD researcher) Erasmus University Rotterdam Photo by Kaitlyn Ashley on Unsplash The world is still feeling reverberations from the financial crisis of 2008 foreseen by neither politicians nor economists The history of capitalism has been punctuated by major crises exposing the fragility of our entire economic system How has capitalism despite these ruptures managed to … 2012 Level: leicht The Future of Capitalism Anatole Kaletsky n.a. This course is an introduction to the economic theories of financial crises It focuses on amplification mechanisms that exacerbate crises such as leverage fire sales bank runs interconnections and complexity It also analyzes the different perspectives on the origins of crises such as mistaken beliefs and moral hazard and discusses … Level: leicht Financial Crises Alp Simsek Massachusetts Institute of Technology Neoliberalism is dead. Again. After the election of Trump and the victory of Brexit in 2016, many diagnosed the demise of the ideology of Margaret Thatcher, Ronald Reagan, Augusto Pinochet, and the WTO. Yet the philosophy of the free market and the strong state has an uncanny capacity to survive and even thrive in crisis. 2020 Level: mittel Nine Lives of Neoliberalism Dieter Plehwe Verso Books In his 2010 published book “The Enigma of Capital and the Crises of Capitalism” multi-talented US geographer, anthropologist and Marxist economist David Harvey aims to analyse the capitalist system that has shaped western society and the globalized world of today. 2011 Level: mittel The Enigma of Capital David Harvey Profile Books Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework). 2014 Level: mittel Monetary Policy Operations and the Financial System Ulrich Bindseil Oxford University Press Erst die Krise der Finanzmärkte, dann die des Euro und nun die globalen Flüchtlingsbewegungen: Seit bald einem Jahrzehnt kommt die Welt aus dem Krisenmodus nicht mehr heraus. Und ein Ende scheint nicht in Sicht. Gleichzeitig droht die wohl größte Krise immer mehr verdrängt zu werden, nämlich die der Grenzen des Wachstums und ihrer Überschreitung. 2015 Level: mittel Mehr geht nicht! Barbara Skidelsky, Elmar Acosta, Maude Altvater, Christine Barlow, Ulrich Bauhardt Blätter Verlagsges. mbH Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. 2013 Level: mittel Rethinking the Financial Crisis Alan S. Blinder, Andrew W. Loh, Robert M. Solow Russell Sage Foundation Goethes Wirken fällt in die Zeit einer Epochenschwelle, in der sich vieles von dem entwickelt hat, was heute global als Geld und Finanzökonomie die Lebenswelt der Menschen beherrscht. Zur Zeit der Ausarbeitung des Faust fand eine umfassende Diskussion über dasWesen des Geldes statt. Im Papiergeld, zentrales Thema im ersten Akt von Faust II, hat das Geld seine eigentümliche Sprache gefunden, mit der eine beschleunigte Umwälzung der ganzen Wirtschaft einherging. 2016 Level: mittel Faust und die Sprache des Geldes Karl-Heinz Brodbeck Verlag Herder GmbH The current global financial system may not withstand the next global financial crisis. In order to promote the resilience and stability of our global financial system against future shocks and crises, a fundamental reconceptualisation of financial regulation is necessary. This reconceptualisation must begin with a deep understanding of how today's financial markets, regulatory initiatives and laws operate and interact at the global level. 2016 Level: mittel Reconceptualising Global Finance and its Regulation Ross P. Buckley, Emilios Avgouleas, Douglas W. Arner Cambridge University Press "First published more than a decade ago, Globalizing Capital has remained an indispensable part of economic literature. This classic book emphasizes the importance of the international monetary system for understanding the international economy. The second edition, published in October 2008, has consistently appeared on syllabuses since its release 2019 Level: mittel Globalizing Capital Barry Eichengreen Princeton University Press Die Frage nach dem moralischen Wert des Marktes stellt sich nach den Finanzkrisen der jüngsten Zeit mit besonderem Nachdruck. Sie ist aber nicht neu. Der Band beleuchtet das spannungsreiche Verhältnis zwischen Markt und Moral in Texten des politischen, ökonomischen und soziologischen Denkens von 1700 bis in die Gegenwart. 2014 Level: mittel Der Wert des Marktes Lisa Herzog, Axel Honneth Suhrkamp Debunking Economics - Revised and Expanded Edition exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking Economics was published back in 2001, the market economy seemed invincible, and conventional "neoclassical" economic theory basked in the limelight. 2011 Level: leicht Debunking Economics - Revised and Expanded Edition Steve Keen Zed Books This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions. The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory. 2012 Level: mittel The Elgar Companion to Post Keynesian Economics J. E. King Edward Elgar The 2007-2010 economic crisis has profoundly shaken the foundations of mainstream financial economics. The apparent falsification of core concepts such as risk diversification, informational efficiency and valuation efficiency by an unexpected course of events has revealed the need to redefine the objectives and direction of research today. 2010 Level: mittel After the Crisis Thomas Lagoarde-Segot Nova Science Publishers, Incorporated

What do modern academic economists do? What currently is mainstream economics? What is neoclassical economics? And how about heterodox economics? How do the central concerns of modern economists, whatever their associations or allegiances, relate to those traditionally taken up in the discipline? 2015 Level: mittel Essays on the Nature and State of Modern Economics Tony Lawson Routledge This invaluable volume brings together seminal articles with a significant behavioural content on various areas in macroeconomics. 2012 Level: mittel Behavioural Macroeconomics Ian Martin McDonald Edward Elgar The U.S. economy today is confronted with the prospect of extended stagnation. This book explores why. Thomas I. Palley argues that the Great Recession and destruction of shared prosperity is due to flawed economic policy over the past thirty years. 2012 Level: mittel From Financial Crisis to Stagnation Thomas I. Palley Cambridge University Press Die Krise hält uns in Atem und erzeugt zugleich ein diffuses Gefühl der Ratlosigkeit. Auf schier unüberschaubare Problemlagen folgen Maßnahmen, die wie Notoperationen am offenen Herzen der westlichen Welt wirken - durchgeführt ohne Kenntnis der Krankengeschichte. So ernst die Lage ist, so wenig scheinen wir zu verstehen, was genau vor sich geht. 2013 Level: mittel Gekaufte Zeit Wolfgang Streeck Suhrkamp Die vorliegende 5. Auflage setzt sich ausführlich mit den Lehren und Entscheidungen aus der Finanzkrise auseinander. Es beleuchtet mit anschaulichen Beispielen umfassend die dahinterstehenden Mechanismen. 2019 Level: leicht Grundzüge der Volkswirtschaftslehre Bofinger, Peter Pearson Studium Until the end of the early 1970s, from a history of economic thought perspective, the mainstream in economics was pluralist, but once neoclassical economics became totally dominant it claimed the mainstream as its own. Since then, alternative views and schools of economics increasingly became minorities in the discipline and were considered 'heterodox'. 2016 Level: mittel Reclaiming Pluralism in Economics Jerry Courvisanos, Jamie Doughney, Alex Millmow Routledge The world has changed dramatically in recent years and so has the field of economics, but many introductory economics textbooks have remained stuck in the past. This book provides a new beginning for the study of macroeconomics, fundamentally international in its approach and emphasizing current debates and research trends. 2014 Level: mittel Macroeconomics Dorman, Peter Springer-Verlag In a changing world that has been shaken by economic, social, financial, and ecological crises, it becomes increasingly clear that new approaches to economics are needed for both theoretical and empirical research; for applied economics as well as policy advice. 2018 Level: mittel Policy Implications of Recent Advances in Evolutionary and Institutional Economics Claudius Grabner, Torsten Heinrich, Henning Schwardt Routledge