Inequality, consumer credit and the saving puzzle
1. Consumer credit and effective demand -- 2. The household debt surge and the theory of habit selection -- 3. A brief history of innovation in the consumer credit industry -- 4. The saving puzzle : a closer examination -- 5. Macroeconomic aspects of consumer credit dependence -- 6. Balance sheet (m...
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| Format: | eBook |
| Language: | English |
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Cheltenham
Edward Elgar
c2008
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| Series: | New directions in modern economics
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| Online Access: | |
| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | 1. Consumer credit and effective demand -- 2. The household debt surge and the theory of habit selection -- 3. A brief history of innovation in the consumer credit industry -- 4. The saving puzzle : a closer examination -- 5. Macroeconomic aspects of consumer credit dependence -- 6. Balance sheet (minsky) effects : an empirical analysis -- 7. Consumerism, inequality and globalization -- 8. Final remarks Providing much needed context for current events like the sub-prime mortgage crisis, this timely book presents a vision of an economy evolved to greater dependence on consumer credit and analyzes the trade-offs and risks associated with it. While synthesizing the Keynesian theory of consumption with the Institutional theory of habit selection (brought up to date with new knowledge from evolutionary biology and neuroscience), this book represents an in-depth treatment of the macroeconomic dimensions of consumer credit and implications of recent financial innovations from a non-traditional economic approach |
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| Physical Description: | x, 183 p ill |
| ISBN: | 9781847205094 9781848443808 1847205097 |