Inequality, crisis and austerity in finance capitalism

作者：Richard C. Peet · 发表于：Cambridge Journal of Regions Economy and Society · 年份：2011 · DOI：10.1093/cjres/rsr025 · 被引用次数：45 · 研究领域：Housing, Finance, and Neoliberalism、Economic Theory and Policy、Political and Economic history of UK and US

Using concepts of social formation and policy regime, the article examines the role of neoliberalism in creating finance capitalism. Finance capitalism involves new methods of exploitation in the reproduction sphere, through debt, price gouging etc. The paper argues that governments are integral components of finance capitalism. ‘Austerity measures’ are finance capitalism’s method of disciplining reluctant classes and regions. A case study of the deficit crisis in the USA shows that austerity measures are the only permissible policy discourse, whereas the cause of the deficit is non-progressive taxation. The paper concludes that inequality is not only unethical but also it is economically disastrous.