Index

A

aggression 311 agriculture 219 American Civil War 50 Ayres, Clarence 22

B

bailouts 177, 203, 223 Bajde, Domen 273, 279, 280 Bakan, Joel 44, 68, 69 Banking Crisis of 2007–2009 1, 20, 267 Bank of England 234 Bartlett, Albert 219 Bateman, Milford 250, 259, 261, 263, 279 Berle, Adolph 43, 44, 53, 68, 69 Berman, Morris 157, 158, 163, 165, 311, 312, 315 Black-Scholes Model 126 Blair, Tony 151, 203 bonds 49, 200, 201, 224 Braverman, Harry 48, 54, 69 Brown, Ellen 236 Brown, Gordon 203 bubbles 9, 67, 68, 77, 125–127, 173, 175–177, 184, 186, 188, 189, 207, 209, 217, 218, 222, 223, 225, 227, 228, 233, 259 Buckley v. Valeo 85 Buddhism 315 Bureau of Economic Analysis 71, 99, 100, 108 Bureau of Labor Statistics 19, 108, 240

© Te Editor(s) (if applicable) and Te Author(s), under exclusive license to Springer Nature Switzerland AG, part of Springer Nature 2018 J. Magnuson, Financing the Apocalypse, Palgrave Insights into Apocalypse Economics, https://doi.org/10.1007/978-3-030-04720-7

323

Business Week 240, 294, 303

C

Caincross, Frances 291 capitalism 311 consequences 50, 51, 54, 129–131, 133, 134, 147, 149, 158, 194, 200, 212 Capra, Frijof 27, 39 Carnegie, Andrew 118, 120 Case Shiller 8, 224, 317 central banks 177, 186–188, 202, 209, 223 Chang, Ha-Joon 250, 261 Citigroup 61, 75, 76, 89, 190 Civil War 50 Clinton, Bill 17, 60, 63, 83, 114, 148, 151, 194, 199, 206, 214, 229, 232, 269 Clinton, Hilary 87 cognitive dissonance 158, 159, 161, 162, 176, 210, 253, 256 Collins, Harper 39 Commons, John 34, 35, 40 common stock 55 Consumer Financial Protection Bureau 237, 238 Coolidge, Calvin 132, 133, 141 Cooper, George 127, 141, 173, 190 corporate hegemony 5, 7, 20, 21, 43, 92, 105, 116, 128, 139, 146, 165, 168, 236, 245, 251, 260, 273 corporations 47, 49

Fortune 500 45, 50, 51, 55, 131, 149, 211

D

Daly, Herman 287–289, 295, 296, 302 delusion 37, 152, 180, 186, 311, 313 derivatives 182, 184, 185, 191, 218, 233 Dewey, John 32, 33, 35, 38, 40, 58 displacement 175, 224 Dodd-Frank 235, 238 Dow Jones Industrial Average 186, 211 Dudley, William M. 77, 78, 106 Dugger, William M. 7, 10, 14, 58, 59, 70, 79, 80, 83, 84, 92, 103, 106, 146, 165, 193, 272 Duvendack, Maren 255–257, 259, 262, 273

E

economic growth 161 economic production 37 economics 122, 141 economic system 26, 37, 39, 133, 156 Efcient Market Hypothesis (EMH) 125 Eisenhower 132, 248 Ekins, Paul 283, 302

F

Fannie Mae 76, 181, 229 Fargo, Wells 61, 64, 75, 101 Federal Deposit Insurance Corporation (FDIC) 63

Federal Open Market Committee 208 Federal Reserve System 35 fnancialization 1, 2, 4, 54, 67, 103, 105, 123, 130, 136, 137, 168, 171, 173, 174, 182, 183, 185, 188, 189, 194, 221, 224, 245, 251, 252, 256, 259, 286, 297 fnancial returns 160 Flannery, Matt 271, 280 Fleckenstein, William A. 208, 214 Fortune 500 10, 20, 43–45, 59, 78, 80, 84 Foster, John Bellamy 2, 14, 170, 189, 190 Frank, Tomas 150, 163 Freddy Mac 76 Friedman, Benjamin 213 Friedman, Tomas 152

G

Galbraith, John K. 55, 56, 58, 59, 69, 70, 133, 211, 214, 287 Geithner, Timothy F. 136, 142 George Mason University 90, 91, 107 Georgescu-Roegen 28 Gini Index 9, 154, 320 Glassman, James 212, 214 Glass Steagall 61–63, 180 Grameen Bank 244, 249, 250, 261, 264 Gramm, Phil 17–19, 26, 64, 83, 207 Gramm, Wendy 17, 19, 26 Gramsci, Antonio 139, 146, 152, 286 Te Great Transformation 130, 141 greed 37, 82, 122, 179, 186, 204, 222, 310, 311, 313, 314 green economics 295 Greenspan, Alan 181, 186, 190, 208 Te Greenspan Put 187, 188 Gregory, Deborah 208 Gross Domestic Product 68, 81, 82, 209 Gruchy, Allan 32, 34, 39, 40, 106, 114, 115, 140, 146 guild 130

H

Hamilton, David 34, 39, 40 Hamilton, Walton 26, 220 Harman, Willis 284, 291, 302 Harper, Malcolm 140, 163, 257, 262, 302 Hassett, Kevin 212, 214 Hatch Innovation 276, 280 Havel, Vaclav 46 Hawken, Paul 288, 290, 299, 301–303 hegemony 4, 6, 11, 12, 14, 20–22, 31, 38, 43, 44, 47, 59, 79–82, 84, 92, 101–105, 114–116, 118, 127–129, 131, 133, 134, 139, 145, 146, 152, 153, 156–158, 162, 165–169, 171, 176, 182, 183, 193–195, 217, 220, 221, 223, 235, 236, 238, 245, 251, 253, 257–259, 267, 268, 272, 278, 284–286, 289, 290, 295, 296, 302 households 27, 154, 210 Hunt, E.K. 29

I

income distribution 154 innovation 2, 4, 57, 78, 83, 89, 104, 116, 126, 135–139, 146, 148, 158, 169–171, 182, 187, 188, 199, 230, 232, 233, 243, 245, 251, 258, 260, 265, 269, 274, 275, 277, 278 instability 1, 3, 9, 12, 13, 39, 49, 67, 104, 136, 138, 153, 158, 165, 168, 170, 171, 174, 175, 189, 194, 196, 197, 203, 206, 221–223, 237, 243, 265, 278, 290, 321 institutional economics 26 institutional investors 211 institutional isomorphism 80, 81, 84 institutions 26, 29, 30, 33, 177, 204, 234, 311–313 International Fund for Agricultural Development (IFAD) 250 International Monetary Fund 149 investment banks 211

J

Jefries Financial Group 268 joint stock company 47, 48 Jones, Ken 312 JP Morgan Chase 45, 60, 61, 64 Te Jumpstart Our Business Startups

Act 274

K

karma 312 karmic volition 35 Kelly, Augustus 71 Kelly, Levin 303 Kelly, Marjorie 46, 69 Kennedy, John 248, 252 Kennedy, Justice 88 Kennedy, Margrit 166, 189 Keynes, John Maynard 122, 141 Kindleberger, Charles 174, 175, 190 Koch brothers 90 Kristof, Nicholas 269, 271, 279 Kuznets, Simon 81, 82

L

Larry Summers 126, 194, 197 Leavitt, Arthur 207 Lehman Brothers 234 Lending Club 267, 268, 279 limits to growth 160 Lindsey, Lawrence 208 Long-Term Capital Management 204

M

Mader, Philip 252, 253, 255, 262 Mahathir, Mohamad 204 mania 49, 212 Marcuse, Herbert 286, 302 market system 26, 129 Martin, William McChesney Jr. 65, 71 Marx, Karl 29, 35, 51, 69, 103, 105, 123, 141, 311 McCain-Feingold 87, 88 McChesney, Robert 2, 14, 170, 189 Means, Gardiner 43, 44, 53, 68, 69, 107 mergers 20, 51–53, 55, 59–66, 78, 102, 154, 168, 217

Mexico 39, 195–197, 199, 202, 203, 258, 259, 261, 279 Microsoft 210 Milken, Michael 179 Mills, C. Wright 55–59, 70, 133, 146, 150, 286, 311 Minsky, Hyman P. 136, 174, 175, 190 Mirowski, Philip 115, 130, 140, 141 Mitchell, Wesley 81 money 48–50, 129, 149, 175, 200, 201, 210–212, 226, 292 monopoly 51 Morrill Tarif 120 mutual funds 211 Myrdal, Gunnar 156–158, 163

N

NASDAQ 211, 212 neoliberalism 7, 11, 12, 21, 22, 37, 59, 78, 90, 115, 116, 122, 124, 128, 131, 133, 139, 145–149, 152–154, 157, 162, 165, 166, 169, 178, 183, 188, 189, 194, 197, 204, 217, 221, 232, 250–252, 258, 259, 265, 272, 289 New Economy 147–150, 153, 212, 284, 285 Northern Rock 234

O

Obama, Barack 88, 89, 114, 237 Orange County 197, 198, 213 organized labor 131 Ostrom, Elinor 23, 39 Te Other Economic Summit 283

P

Pandit, Vikram 76 payday lender 247 Peck, Jaime 129 peer-to-peer 13, 146, 260, 266, 268, 271, 275, 278, 288 Philipsen, Dirk 68, 81, 82, 106 Polanyi, Karl 130, 141 Prins, Nomi 190

R

Rajan, Raghuram G. 104 Reagan, Ronald 22, 86, 93, 99, 113, 115, 178, 190 recession 199, 212 Reich, Robert 148 Riegle-Neal Interstate Banking and Branching Efciency Act 60 Rohatyn, Felix 199 Roszak, Teodore 151, 163, 302 Rubin, Robert 63, 194, 197, 203, 207

S

Salomon Brothers 181, 205 Savings and Loans 178–180 Schumacher, E.F. 314 Schumpeter, Joseph 138, 142 Sheehan, Frederick 179, 190, 209, 214 Sherman Antitrust Act 52 Shiller Index 233 Sinclair, Hugh 254, 257, 259, 262, 263, 280 Smith, Adam 121, 122, 127–129, 133, 141 Smuts, Jan Christian 30

social provisioning 6, 29, 31–36, 44, 47, 57, 58, 67, 77, 81, 157, 165, 167, 168, 175, 218, 219, 243, 247, 252, 260, 268 social systems of production 30 speculation 151, 152, 168, 174, 175, 179–181, 185, 197, 200–203, 208–212, 223, 224, 226 Spencer, Herbert 117, 118, 121, 140 Standard Oil 52, 53, 60, 133 Stiglitz, Joseph 203, 213 Stockman, David 186, 190, 191 stock market crash of 1929 52, 62, 148 stock market speculation 210 stocks 49, 50, 201, 210–212 Summers, Lawrence 63, 141, 206, 207, 258 Sumner, William Graham 117–119, 140

T

Tax Cut and Jobs Act 94, 107 technology 37, 210, 211 Tailand 199–202 Tatcher, Margaret 21, 22, 27, 115, 117, 121 Teory of Economic Progress, Te 22, 39 Teory of the Leisure Class, Te 40, 68 trade defcits 200 triple bottom line 296 Trump, Donald J. 67, 162

U

U.S. Treasury Department 149 usufruct 6

V

Varley, Robert C.G. 253, 254, 262 Veblen, Torstein 5–7, 14, 31, 33–35, 37, 40, 43, 44, 47, 53, 58, 67, 68, 71, 78, 103, 105, 106, 117, 140, 172, 218, 220, 239, 310, 311, 315

W

Wall Street 4, 6, 9, 10, 13, 43, 46, 59–61, 63, 70, 75–78, 80, 88, 89, 103, 106, 108, 114, 124, 127, 136, 137, 147, 149, 160, 169, 171, 180, 182, 184, 186–188, 190, 194, 197–201, 203, 204, 206, 207, 218, 223, 227–231, 234–236, 238, 258–260, 267–269, 318 Washington Consensus 149, 194, 200, 202 World Bank 149, 203

Y

Yunus, Muhammad 244, 245, 249–251, 259, 261–263, 273

Z

zero bound 138