Includes bibliographical references and index.

Preliminary Material -- Introduction: A Crisis of Financialisation / Costas Lapavitsas -- Chapter One Financialised Capitalism: Crisis and Financial Expropriation / Costas Lapavitsas -- Chapter Two Racial Exclusion and the Political Economy of the Subprime Crisis / Gary A. Dymski -- Chapter Three On the Content of Banking in Contemporary Capitalism / Paulo L. dos Santos -- Chapter Four Central Banking in Contemporary Capitalism: Inflation-Targeting and Financial Crises / Demophanes Papadatos -- Chapter Five The Historical Significance and the Social Costs of the Subprime Crisis: Drawing on the Japanese Experience / Makoto Itoh -- Chapter Six The Globalisation of Financial Capital, 1997–2008 / Carlos Morera Camacho and José Antonio Rojas Nieto -- Chapter Seven Developing Countries in the Era of Financialisation: From Deficit-Accumulation to Reserve-Accumulation / Juan Pablo Painceira -- Chapter Eight Global Integration of Middle-Income Developing Countries in the Era of Financialisation: The Case of Turkey / Nuray Ergüneş -- References -- Index.

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The turmoil of 2007-2009 is a crisis of financialised capitalism, and for this reason it is systemic and unusual. The crisis commenced in the sphere of finance, spread to production, and then became a world recession. Its unusual character is apparent since never before has a global economic crisis been triggered by banks lending to workers to buy houses. Moreover, state intervention to forestall the crisis becoming a major depression has been unprecedented. This book brings together several well-known political economists to analyse the domestic and international aspects of financialisation, thus putting the crisis in its appropriate context. It draws on Marxist and other heterodox economics to cast light on the broader implications of financialisation and crisis for society.