The Fall and Rise of American Finance

The Fall and Rise of American Finance:from J.P. Morgan to Blackrock

  • Paperback

    + free ebook

    Regular price $24.95 Sale price $19.96
    Page redirects on selection
    Add to cart
    20% off
  • Ebook

    Regular price $9.99 Sale price $8.00
    Page redirects on selection
    Add to cart
    20% off

How Wall Street concocted a more volatile and dangerous capitalism

The Fall and Rise of American Finance traces the collapse and reconstitution of American financial power from the disintegration of robber baron J. P. Morgan’s vast empire to the rise of finance behemoth BlackRock. Contrary to what is taken for common sense by figures from Hillary Clinton to Bernie Sanders, Maher and Aquanno insist that financialization did not imply the hollowing out of the “real” economy or the retreat of the state. Rather, it served to intensify competitive discipline to maximize efficiency, profits, and the exploitation of labor—with the support of an increasingly authoritarian state.

Reviews

  • Worthy heirs to their teacher, the great Leo Panitch, Maher and Aquanno sketch an alternative history of the last century that every critical scholar of finance must now engage and contend with.

    Quinn Slobodian, author of Crack-Up Capitalism
  • A groundbreaking historical work with vital implications for theory and politics. The Fall and Rise of American Finance changes our vision of the present—and the future.

    Clara E. Mattei, author of The Capital Order
  • Critical political economists tend to separate finance and ‘the real economy,’ seeing the former as parasitic on the latter. But what if finance has always been there and has always been the mechanism that disciplined capitalism as a whole? Maher and Aquanno explore this alternative reading of financialization. It is a compelling and convincing account.

    Mark Blyth, Professor of International Economics at Brown University