Divested - Inequality In Financialized America by Ken-Hou Lin, Megan Tobias Neely

Download Book Divested - Inequality In Financialized America by Ken-Hou Lin [PDF/ePUB]

Finance is an inescapable part of American life. From how one pursues an education, buys a home, runs a business, or saves for retirement, finance orders the lives of ordinary Americans. And as finance continues to expand, inequality soars. 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.

How to download Divested - Inequality In Financialized America eBook online in the US, Canada, UK, Australia and other countries? If you want to fully download or read online Divested - Inequality In Financialized America a book by Ken-Hou Lin, you are in the right place. This website provides the opportunity to read books or download for free.

“A friend is someone who knows all about you and still loves you.” ― Elbert Hubbard

Do you read books like Divested - Inequality In Financialized America and other similar books? We like Divested - Inequality In Financialized America, and everybody loves them as well much more when they are totally free, right? You are in the best place to get your favourite books and download or read it with free of charge on our site.