The 2020- pandemic and beyond: summary and conclusions

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Chapter 6 in Financial Crises and Recession in the Global Economy, 2023, pp 161-183 from Edward Elgar Publishing

Abstract: Chapter 6 presents ‘the 2020- pandemic and beyond’, especially how the most recent financial instabilities, expanded roles of central banks, and processes of capital accumulation have continued to favor the US and wealthier owner of capital in the US dollar core of the global economy. A process of ‘US money mercantilism’ is described, wherein the net inflow of the rest of the world’s financial capital into the US (measured separately from cross-border transactions in merchandise and non-financial services) has reached $1 trillion per year. And, the net worth or wealth of US households has reached $140 trillion, which is perhaps one-third of the world’s wealth. This wealth is, increasingly, distributed unequally across household income levels, especially in the ownership of various financial assets. Chapter 6 concludes with a summary of the book’s conclusions, including suggestions for policymakers and researchers.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
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