The Bailout State: Why Governments Rescue Banks, Not People - Softcover

Konings, Martijn

 
9781509564323: The Bailout State: Why Governments Rescue Banks, Not People
Softcover
ISBN 10: 1509564322 ISBN 13: 9781509564323
Verlag: Polity, 2024

Inhaltsangabe

How did we end up in a world where social programs are routinely cut in the name of market discipline and fiscal austerity, yet large banks get bailed out whenever they get into trouble?

In The Bailout State, Martijn Konings exposes the inner workings of this sprawling infrastructure of government guarantees. Backstopping financial markets and securing banks’ balance sheets, this contemporary Leviathan manages the inflationary pressures that its generosity produces by tightening the financial screws on the rest of the population.
 
To a large extent, the bailout state was built by progressives seeking to buttress the institutions of the early postwar period. The resulting tide of capital gains fostered an asset-centered politics that experienced its heyday in the nineties. But ever since the financial crisis of 2007-08, promises of inclusive economic growth have looked increasingly thin. A colossus locked in place, the bailout state disburses its benefits to a rapidly shrinking group of property owners.  Against the backdrop of a ferocious post-pandemic turn to anti-inflationary policy, the only remaining way to exit the logic of the bailout, Konings argues, is to challenge the monetary drivers at the heart of capitalist society.

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Über die Autorin bzw. den Autor

Martijn Konings is Professor of Political Economy and Social Theory at the University of Sydney.

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Verlag
Polity
Erscheinungsdatum
2024
Sprache
Englisch
ISBN 10 
1509564322
ISBN 13 
9781509564323
Einband
Taschenbuch
Auflage
1
Anzahl der Seiten
272
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Vorgestellte Ausgabe

ISBN 10:  1509564314 ISBN 13:  9781509564316
Verlag: Polity, 2024
Hardcover