EconPapers    
Economics at your fingertips  
 

Rising Inequality and the Financial Crises of 1929 and 2008

Jon Wisman () and Barton Baker

Chapter Chapter 4 in Consequences of Economic Downturn, 2011, pp 63-82 from Palgrave Macmillan

Abstract: Abstract The financial crisis of 2008 has prompted research into its commonalities with that of 1929 and a search for common causes. Most scholars agree that in both instances low interest rates, financial innovation, and laissez-faire ideology supporting lax regulation played important causal roles. While this analysis is not incorrect, it addresses proximate as opposed to more profound underlying causality. At this deeper level, both crises were in part caused by the consequences of dramatically rising inequality.

Keywords: Stock Market; Real Estate; Financial Crisis; Credit Default Swap; Real Estate Market (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations: Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Rising Inequality and the Financial Crises of 1929 and 2008 (2010) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:pfschp:978-0-230-11835-5_4

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230118355

DOI: 10.1057/9780230118355_4

Access Statistics for this chapter

More chapters in Perspectives from Social Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2022-09-28
Handle: RePEc:pal:pfschp:978-0-230-11835-5_4