IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-137-54437-7_3.html
   My bibliography  Save this book chapter

Recurring Financial Crises—The Fallouts

In: The Next Financial Crisis and How to Save Capitalism

Author

Listed:
  • Hossein Askari

    (George Washington University)

  • Abbas Mirakhor

    (International Centre for Education in Islamic Finance (INCEIF))

Abstract

The fallouts of financial crises are severe. The problems are intertwined and the process of financialization and the runup in debt is an important cause of stagnant real wages, increasing income, wealth disparity, slower economic growth and the fuel for recurring financial crises. These are in large measure because of the changes wrought by financial sector interests and are related to the structure of the economy, economic policy, and the behavior of corporations. The dissipation of savings, the growth effects of increased indebtedness, increased share of financial sector profits, shifts in income away from workers, and lower retained profits of corporations tend to reduce long-run equilibrium growth. They have to be addressed in a comprehensive manner to be effective.

Suggested Citation

  • Hossein Askari & Abbas Mirakhor, 2015. "Recurring Financial Crises—The Fallouts," Palgrave Macmillan Books, in: The Next Financial Crisis and How to Save Capitalism, chapter 3, pages 35-46, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-54437-7_3
    DOI: 10.1057/9781137544377_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-137-54437-7_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.