Divested: inequality in the age of finance
Description
In Divested, Ken-Hou Lin and Megan Tobias Neely demonstrate why widening inequality cannot be understood without examining the rise of big finance. The growth of the financial sector has dramatically transformed the American economy by redistributing resources from workers and families into the hands of owners, executives, and financial professionals. The average American is now divested from a world driven by the maximization of financial profit.Lin and Neely provide systematic evidence to document how the ascendance of finance on Wall Street, Main Street, and among households is a fundamental cause of economic inequality. They argue that finance has reshaped the economy in three important ways. First, the financial sector extracts resources from the economy at large without providing economic benefits to those outside the financial services industry. Second, firms in other economic sectors have become increasingly involved in lending and investing, which weakens the demand for labor and the bargaining power of workers. And third, the escalating consumption of financial products by households shifts risks and uncertainties once shouldered by unions, corporations, and governments onto families. A clear, comprehensive, and convincing account of the forces driving economic inequality in America, Divested warns us that the most damaging consequence of the expanding financial system is not simply recurrent financial crises but a widening social divide between the have and have-nots. --
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ISBN:
9780190638313
9780190638320
9780190638320
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Grouping Information
Grouped Work ID | 80440ac8-62fb-da74-c43b-6329f29281e1 |
---|---|
Grouping Title | divested inequality in the age of finance |
Grouping Author | ken hou lin |
Grouping Category | book |
Grouping Language | English (eng) |
Last Grouping Update | 2024-03-18 07:05:36AM |
Last Indexed | 2024-04-22 21:37:08PM |
Solr Fields
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0
accelerated_reader_reading_level
0
auth_author2
Neely, Megan Tobias
author
Lin, Ken-Hou
author2-role
EBSCOhost
Neely, Megan Tobias,author
Neely, Megan Tobias,author
author_display
Lin, Ken-Hou
available_at_cmc
CMC Steamboat Campus
detailed_location_cmc
CMC Steamboat Campus
display_description
In Divested, Ken-Hou Lin and Megan Tobias Neely demonstrate why widening inequality cannot be understood without examining the rise of big finance. The growth of the financial sector has dramatically transformed the American economy by redistributing resources from workers and families into the hands of owners, executives, and financial professionals. The average American is now divested from a world driven by the maximization of financial profit.Lin and Neely provide systematic evidence to document how the ascendance of finance on Wall Street, Main Street, and among households is a fundamental cause of economic inequality. They argue that finance has reshaped the economy in three important ways. First, the financial sector extracts resources from the economy at large without providing economic benefits to those outside the financial services industry. Second, firms in other economic sectors have become increasingly involved in lending and investing, which weakens the demand for labor and the bargaining power of workers. And third, the escalating consumption of financial products by households shifts risks and uncertainties once shouldered by unions, corporations, and governments onto families. A clear, comprehensive, and convincing account of the forces driving economic inequality in America, Divested warns us that the most damaging consequence of the expanding financial system is not simply recurrent financial crises but a widening social divide between the have and have-nots. --
format_category_cmc
Books
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Book
id
80440ac8-62fb-da74-c43b-6329f29281e1
isbn
9780190638313
9780190638320
9780190638320
itype_cmc
Book
last_indexed
2024-04-23T03:37:08.460Z
lexile_score
-1
literary_form
Non Fiction
literary_form_full
Non Fiction
local_callnumber_cmc
HG 181 .L58 2020
owning_library_cmc
Colorado Mountain College
owning_location_cmc
CMC Steamboat Campus
primary_isbn
9780190638313
publishDate
2020
publisher
Oxford University Press
recordtype
grouped_work
subject_facet
Equality
Equality -- United States
Finance
Finance -- United States
Wealth
Wealth -- United States
Equality -- United States
Finance
Finance -- United States
Wealth
Wealth -- United States
title_display
Divested : inequality in the age of finance
title_full
Divested : inequality in the age of finance / Ken-hou Lin, Megan Tobias Neely
title_short
Divested
title_sub
inequality in the age of finance
topic_facet
Equality
Finance
Wealth
Finance
Wealth
Solr Details Tables
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record_details
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ils:.b6184343x | Book | Books | English | Oxford University Press | [2020] | 232 pages ; 24 cm |
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