The Fall and Rise of American Finance
from J.P. Morgan to Blackrock
Stephen Maher author Scott Aquanno author
Format:Paperback
Publisher:Verso Books
Published:13th Feb '24
Should be back in stock very soon
How Wall Street concocted a more volatile and dangerous capitalism
The Fall and Rise of American Finance traces the collapse and reconstitution of American financial power from the disintegration of robber baron J. P. Morgan's vast empire to the rise of finance behemoth BlackRock. Contrary to what is taken for common sense by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the hollowing out of the "real" economy or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor-with the support of an increasingly authoritarian state.
Worthy heirs to their teacher, the great Leo Panitch, Maher and Aquanno sketch an alternative history of the last century that every critical scholar of finance must now engage and contend with. -- Quinn Slobodian, author of Crack-Up Capitalism
A groundbreaking historical work with vital implications for theory and politics. The Fall and Rise of American Finance changes our vision of the present-and the future. -- Clara E. Mattei, author of The Capital Order
Critical political economists tend to separate finance and 'the real economy,' seeing the former as parasitic on the latter. But what if finance has always been there and has always been the mechanism that disciplined capitalism as a whole? Maher and Aquanno explore this alternative reading of financialization. It is a compelling and convincing account. -- Mark Blyth, Professor of International Economics at Brown University
The Fall and Rise of American Finance: From J. P. Morgan to BlackRock should be required reading for climate justice militants, even if it does not at first appear related to environmental concerns. -- Ashley Dawson * Los Angeles Review of Books *
ISBN: 9781839765261
Dimensions: 234mm x 153mm x 18mm
Weight: 306g
272 pages