Financiarisation de l'économie : cash misère

Croatia adopted the euro as its currency on 1 January 2023, becoming the 20th member state of the eurozone. In this teaching pack, students learn what it entails to join the eurozone and discuss what its effects might be. In this way, the case helps students connect theoretical insights about monetary unions with real world knowledge and economic developments in the news.

One of the pluralist theories which has gained prominence following the 2008 financial crisis is Hyman Minsky and his Financial Instability Hypothesis (FIH). Minsky was unique in viewing balance sheets and financial flows as the primary components of capitalist economies, and his focus on the financial system meant he was well-equipped for foresee a crisis much like 2008. Although he died long before 2008 his framework anticipated many of the processes which led to the crash, particularly increased risk-taking and financial innovation which would outstrip the abilities of regulators and central banks to manage the system.

The Money View Symposium was hosted by YSI on 5-7 February, 2021. The Symposium showcased the work of scholars and practitioners that make use of the so-called Money View, ranging from economists to lawyers, politicians and social scientists at large. The symposium aims to illuminate the main tenets of the Money View and to demonstrate its juxtaposition to the mainstream.

Prof. Robert Guttmann looks at the current transformation of the international world order through the lenses of global money and finance.

Unser Wirtschaftssystem hat sich unsichtbar gemacht und entzieht sich dem Verständnis. In den letzten Jahren hatten wir oft nicht mehr als ein diffuses und unbefriedigendes Gefühl, dass etwas schief läuft. Aber was? Der Dokumentarfilm OECONOMIA deckt die Spielregeln des Kapitalismus auf und macht in einer episodischen Erzählstruktur sichtbar, dass die Wirtschaft paradoxerweise nur wächst, wenn wir uns verschulden, dass Gewinne nur möglich sind, wenn wir uns verschulden.

It is perhaps fitting that the seriousness of the coronavirus threat hit most of the Western world around the Ides of March, the traditional day of reckoning of outstanding debts in Ancient Rome. After all, problems and imbalances have accumulated in the Western capitalist system over four decades, ostensibly since it took the neoliberal road out of the 1970s crisis and kept going along it, heedless of the crises and problems it led to.