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Book synopsis

This timely, interdisciplinary book utilizes the tools of politics, economics and social policy to explore the recent global financial crisis, which, the author argues, irrefutably confirmed the absence of a public interest perspective in policy making. Maurice Mullard points out that recessions are not collective shared experiences. Recessions create winners and losers. Furthermore recessions are not an external event but reflect the outcomes of the policy process. The author looks beyond economic explanations for the economic crisis, and instead points towards a structural explanation. He explores the concept of social structures, the effects of the relationship between power and influence, and the role of ideology and inequalities, concluding that the financial crisis was actually a crisis of economic ideas. The commitment to deregulated markets created an over the counter derivatives market worth some $640 trillion compared to a global GDP worth $65 trillion. The growth of derivatives markets, the role of credit rating agencies major shifts in policy making and growing income inequalities are described as major factors explaining the present economic recession. The absence of a public interest perspective, the breakdown of trust in institutions, policy makers' dependence on financial contributions, the housing bubble and the increased concentration of income have distorted the democratic process. Thought provoking and stimulating, this book will provide a fascinating study for students and academics with an interest in politics, economics, political economy and public policy.

Book details

Book category Książki po angielsku Economics, finance, business & management Economics Economic & financial crises & disasters

• Full title: Politics of Recession
• Author: Maurice Mullard
• Language: English
• Binding: Hardback
• Number of pages: 264
• EAN: 9781848448711
• ID: 04455758
• Publisher: Edward Elgar Publishing Ltd
• Weight: 552 g
• Dimensions: 234 × 156 × 19 mm
• Date of publishing: 29. December 2011

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