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Beyond Mainstream Explanations of the Financial Crisis

Hossein-zadeh, Ismael, (2014), “Beyond Mainstream Explanations of the Financial Crisis”, International Political Economy Series, Routledge publications, 15 April

The study argues that while the prevailing views of deregulation and financialization as instrumental culprits in the explosion and implosion of the financial bubble are not false, they fail to point out that financialization is essentially an indication of an advanced stage of capitalist development. These standard explanations tend to ignore the systemic dynamics of the accumulation of finance capital, the inherent limits to that accumulation, production and division of economic surplus, class relations, and the balance of social forces that mold economic policy.

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