Inequality and Its Discontents: The Real Causes and Consequences of the Crisis

Steven Pressman

Chapter Chapter 5 in Consequences of Economic Downturn, 2011, pp 83-101 from Palgrave Macmillan

Abstract: Abstract Over the past several decades, one case for deregulating financial markets has been that this would release the forces of financial innovation for the good of all. Unhindered financial markets were supposed to increase efficiency in financial markets and reduce costs to borrowers, which would benefit the whole economy. Greater access to credit would increase consumption, spur business investment, raise the rate of homeownership, increase productivity, and enable Americans to enjoy a higher standard of living.

Keywords: Income Inequality; Income Distribution; Productivity Growth; Median Voter; Unemployment Insurance (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pfschp:978-0-230-11835-5_5

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DOI: 10.1057/9780230118355_5

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