Divested: inequality in the age of finance
(Book)

Book Cover
Contributors:
Published:
New York : Oxford University Press, [2020].
Format:
Book
Physical Desc:
232 pages ; 24 cm.
Status:
CMC Steamboat New
HG 181 .L58 2020
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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CMC Steamboat New
HG 181 .L58 2020
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Citations
APA Citation (style guide)

Lin, K., & Neely, M. T. (2020). Divested: inequality in the age of finance. New York: Oxford University Press.

Chicago / Turabian - Author Date Citation (style guide)

Lin, Ken-Hou and Megan Tobias, Neely. 2020. Divested: Inequality in the Age of Finance. New York: Oxford University Press.

Chicago / Turabian - Humanities Citation (style guide)

Lin, Ken-Hou and Megan Tobias, Neely, Divested: Inequality in the Age of Finance. New York: Oxford University Press, 2020.

MLA Citation (style guide)

Lin, Ken-Hou,, and Megan Tobias Neely. Divested: Inequality in the Age of Finance. New York: Oxford University Press, 2020. Print.

Note! Citation formats are based on standards as of July 2010. Citations contain only title, author, edition, publisher, and year published. Citations should be used as a guideline and should be double checked for accuracy.
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Language:
English
ISBN:
9780190638313, 0190638311
UPC:
2019017343

Notes

Bibliography
Includes bibliographical references (pages 193-216) and index.
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. --,Adapted from publisher website.
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Grouped Work ID:
80440ac8-62fb-da74-c43b-6329f29281e1
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Record Information

Last Sierra Extract TimeDec 01, 2020 09:28:02 AM
Last File Modification TimeJan 01, 2021 04:35:59 AM
Last Grouped Work Modification TimeOct 15, 2021 08:02:02 PM

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520 |a 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. --|c Adapted from publisher website.
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