The Financialization Response to Economic Disequilibria
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The Financialization Response to Economic Disequilibria

European and Latin American Experiences

  • New Directions in Post-Keynesian Economics series

Edited by Noemi Levy and Etelberto Ortiz

Europe and Latin America’s social and economic stagnation is a direct result of the unresolved phenomena of the financialization crisis that broke out in 2008 in developed countries. Editors Noemi Levy and Etelberto Ortiz analyze the limitations of economic growth and development under capitalist economic organizations where financial capital is dominant, as well as explore alternative economic policies.
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Chapter 7: Global disequilibria and the inequitable distribution of income

Alma Chapoy

Abstract

In the chapter, ‘Global disequilibria and the inequitable distribution of income,’ the author focuses on the income inequality generated by the disconnect between the financial and productive sectors, which is reflected in growing current account imbalances and large cross-border transactions, explained by the predominant monetary asymmetries in the current capitalist period, generated by the USA that holds the privilege of being the sole issuer of international money.

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