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Negative Interest Rates: The Black Hole of Financial Capitalism Vol: 13

Jacques Ninet
Independent Scholar


Product Details
Format:
Hardback
ISBN:
9781839823770
Published:
26 Nov 2020
Publisher:
Emerald Publishing Limited
Dimensions:
224 pages - 152 x 229mm
Series:
Critical Studies on Corporate Responsibility, Governance and Sustainability
Are the unconventional accommodative monetary policies in place since 2008 pulling Western economies into a black hole? 

Jacques Ninet asks precisely this question of these policies as he investigates their origins, effectiveness and permanency. Starting with the neoliberal revolution of the 1980s, Ninet shows how growing wealth disparities and their counterpart, growing indebtedness, have created financial instability and triggered recurring crises. Central banks have become the only game in town, but as they have reached the zero-lower bound in the US and even crossed it in Europe and Japan, they are now in great danger, and they are carrying with them the whole house of cards.  

Ideally suited for researchers, professionals and students of finance and economics, this book shows that very little would be needed to restore economic order, and it demonstrates how such efforts could be carried out in conjunction with efforts towards ecological transition and the restoration of social justice.
Part 1. Financial Capitalism: from the Neoliberal Revolution to the Multifaceted Crisis of the 21st Century  
Chapter 1. The Great Turn  
Chapter 2. Neoliberalism and the Revenge of Rentier Capitalists 
Chapter 3. The Underpinnings of Hyper-Financialization 
Chapter 4. The poor economic and financial record of thirty-five years of neoliberalism 
Part 2. Anatomy of a Crisis 
Chapter 5. The Single Crisis of the Asset-Based Economy 
Chapter 6. A foreseeable but not foreseen crisis 
Chapter 7. Deficit and debt trap 
Chapter 8. A Useless Crisis? 
Part 3. In the Hands of Central Banks 
 Chapter 9. Central Bank. A Standard Reading 
Chapter 10. Some Facts About the Monetary Economy... To Better Understand the True Role of Central Banks 
Chapter 11. The Short History of Central Banks in the Long History of Money. 
Chapter 12. Theoretical Foundations of Central Banking. From Monetarism to Dynamic Stochastic General Equilibrium (DSGE) Models.
Chapter 13. Does Independence Guarantee Infallibility?
Chapter 14. Are Central Bankers Truly Independent? 
Chapter 15. An Astonishing Confession 
Part 4. Who will save the central banks? 
Chapter 16. The Black Hole 
Chapter 17. Economic and Financial Consequences of NIRP and ZIRP 
Chapter 18. Tina (There Is No Alternative)? 
Chapter 19. The Central Banks: At the Core of The Next Crisis of Confidence
Jaques Ninet is an Independent Researcher and Consultant. He has balanced a career between academia and the financial markets, holding positions which include Head of Finance at CEPME (now known as BPI) and Senior Research Advisor at the group La Français. He has also taught finance as Associate Professor at the University of Poitiers where he specialised in risks, responsible finance and sustainable development.

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