Divested: Inequality in the age of finance

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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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Grouping Information

Grouped Work ID80440ac8-62fb-da74-c43b-6329f29281e1
Grouping Titledivested inequality in the age of finance
Grouping Authorken hou lin
Grouping Categorybook
Grouping LanguageEnglish (eng)
Last Grouping Update2021-10-15 20:02:02PM
Last Indexed2021-10-20 21:51:01PM
Novelist Primary ISBN9780190638313

Solr Details

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auth_author2Neely, Megan Tobias,
Neely, Megan Tobias.
Sorensen, Chris.
authorLin, Ken-Hou.
author2-roleNeely, Megan Tobias,author.
Neely, Megan Tobias.
Sorensen, Chris.
hoopla digital.
author_displayLin, Ken-Hou
available_at_cmcCMC Steamboat Campus
detailed_location_cmcCMC Steamboat New
display_descriptionIn 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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subject_facetBusiness
Electronic books
Equality
Equality -- United States
Finance
Finance -- United States
Nonfiction
Sociology
Wealth
Wealth -- United States
title_displayDivested : inequality in the age of finance
title_fullDivested : inequality in the age of finance / Ken-hou Lin, Megan Tobias Neely
Divested : inequality in the age of finance [electronic resource] / Ken-Hou Lin and Megan Tobias Neely
Divested [electronic resource] : Inequality in the age of finance. Ken-Hou Lin
title_shortDivested
title_subInequality in the age of finance
topic_facetBusiness
Equality
Finance
Nonfiction
Sociology
Wealth