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The Resource The dialectics of liquidity crisis : an interpretation of explanations of the financial crisis of 2007-08, Chris Jefferis

The dialectics of liquidity crisis : an interpretation of explanations of the financial crisis of 2007-08, Chris Jefferis

Label
The dialectics of liquidity crisis : an interpretation of explanations of the financial crisis of 2007-08
Title
The dialectics of liquidity crisis
Title remainder
an interpretation of explanations of the financial crisis of 2007-08
Statement of responsibility
Chris Jefferis
Creator
Subject
Language
eng
Summary
This book analyses the logic of applying the American Post-Keynesian economist Hyman Minsky's Financial Instability Hypothesis (FIH) to the financial crisis of 2007-08. Arguing that most theories of financial crisis, including Minsky's own, only describe events, but do not actually explain them, the book surveys theories of financial crisis that have been developed to describe instability in the post-WW2 US financial system and analyses them in their historical context. The book argues that explanation of the financial crisis of 2007-08 should involve interpretation of the concept of 'risk', which guides the construction and pricing of contemporary financial products such as derivatives and asset backed securities, as a form of 'liquidity', the concept that Minsky sought to explain the financial crises of the 1970s and 1980s with. The book highlights the continuing relevance of Minsky's theory of liquidity crisis as "immanent", in a historical sense, to the products and trading practices of modern finance, because these products were developed to obviate the crisis dynamics that Minsky described.Minsky's FIH can therefore inform historical understanding of the crisis of 2007-08 but is not directly explanatory itself. The book explores explanation of the financial crisis of 2007-08 interpreting 'liquidity', in practical historical terms, as involving a process of development out of prior crisis dynamics. Seeking to contribute to debates over the causes of the financial crisis of 2007-08 by blending a discussion of historicizing philosophy, economic theory and contemporary financial banking and trading practices this work will be of great interest to scholars of international political economy, heterodox economics and critical theory.--
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Cataloging source
DLC
http://library.link/vocab/creatorName
Jefferis, Chris
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
bibliography
Series statement
Routledge advances in international political economy
Series volume
29
http://library.link/vocab/subjectName
  • Global Financial Crisis, 2008-2009
  • Liquidity (Economics)
  • Financial crises
Label
The dialectics of liquidity crisis : an interpretation of explanations of the financial crisis of 2007-08, Chris Jefferis
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
ocn974212146
Dimensions
25 cm.
Extent
142 pages
Isbn
9781138847323
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)974212146
Label
The dialectics of liquidity crisis : an interpretation of explanations of the financial crisis of 2007-08, Chris Jefferis
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
ocn974212146
Dimensions
25 cm.
Extent
142 pages
Isbn
9781138847323
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)974212146

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