This is partly a review of Capital Resurgent and Crisis of Neoliberalism by Duménil and Lévy, A Brief History of Neoliberalism by David Harvey, and The Golden Rule: The Investment Theory of Party Competition by Thomas Ferguson. The reason why I am writing about all these books together is that they fit together to provide a coherent explanation of the rise of finance capitalism in our time. What we are looking for is an analytical framework that accounts for the momentous changes that took place in the nature of Capitalism and the juridico-political regime beginning in the 1970s. Any framework involves keeping only a few variables to keep the analysis tractable. This is not a problem as long as we have strong reasons to believe that the ignored variables are overwhelmed by the dominant variables, our model will still have strong predictive power. Another analytical rule of thumb to bear in mind is that when models that account for different phenomena on their own fit together in a consistent fashion it provides further evidence of their validity. Which is why this analysis is so exciting. Let us begin without further ado.
The Dominance of Finance
The Dominance of Finance
The Dominance of Finance
This is partly a review of Capital Resurgent and Crisis of Neoliberalism by Duménil and Lévy, A Brief History of Neoliberalism by David Harvey, and The Golden Rule: The Investment Theory of Party Competition by Thomas Ferguson. The reason why I am writing about all these books together is that they fit together to provide a coherent explanation of the rise of finance capitalism in our time. What we are looking for is an analytical framework that accounts for the momentous changes that took place in the nature of Capitalism and the juridico-political regime beginning in the 1970s. Any framework involves keeping only a few variables to keep the analysis tractable. This is not a problem as long as we have strong reasons to believe that the ignored variables are overwhelmed by the dominant variables, our model will still have strong predictive power. Another analytical rule of thumb to bear in mind is that when models that account for different phenomena on their own fit together in a consistent fashion it provides further evidence of their validity. Which is why this analysis is so exciting. Let us begin without further ado.