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Inequality, Consumer Credit and the Saving Puzzle

Author

Listed:
  • Christopher Brown

Abstract

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.

Suggested Citation

  • Christopher Brown, 2008. "Inequality, Consumer Credit and the Saving Puzzle," Books, Edward Elgar Publishing, number 12877.
  • Handle: RePEc:elg:eebook:12877
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    File URL: https://www.elgaronline.com/view/9781847205094.xml
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Zdravka Todorova, 2013. "Conspicuous Consumption as Routine Expenditure and its Place in the Social Provisioning Process," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1183-1204, November.
    2. Mark Setterfield & Yun K. Kim & Jeremy Rees, 2016. "Inequality, Debt Servicing and the Sustainability of Steady State Growth," Review of Political Economy, Taylor & Francis Journals, vol. 28(1), pages 45-63, January.
    3. Jon D. Wisman & Matthew E. Davis, 2013. "Degraded Work, Declining Community, Rising Inequality, and the Transformation of the Protestant Ethic in America: 1870–1930," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1075-1105, November.
    4. Till Treeck, 2014. "Did Inequality Cause The U.S. Financial Crisis?," Journal of Economic Surveys, Wiley Blackwell, vol. 28(3), pages 421-448, July.
    5. Jon D. Wisman, 2013. "Wage stagnation, rising inequality and the financial crisis of 2008," Cambridge Journal of Economics, Oxford University Press, vol. 37(4), pages 921-945.
    6. W. Robert Brazelton & Charles J. Whalen, 2011. "Towards a synthesis of Institutional and Post Keynsian economics," Chapters,in: Financial Instability and Economic Security after the Great Recession, chapter 2, pages 28-52 Edward Elgar Publishing.
    7. Jon D. Wisman & Barton Baker, 2010. "Rising Inequality and the Financial Crises of 1929 and 2008," Working Papers 2010-10 JEL classificatio, American University, Department of Economics.
    8. Charles J. Whalen, 2017. "Understanding Financialization: Standing on the Shoulders of Minsky," Economics Working Paper Archive wp_892, Levy Economics Institute.
    9. Marc Lavoie, 2016. "Convergence Towards the Normal Rate of Capacity Utilization in Neo-Kaleckian Models: The Role of Non-Capacity Creating Autonomous Expenditures," Metroeconomica, Wiley Blackwell, vol. 67(1), pages 172-201, February.
    10. Jon D. Wisman & Aaron Pacitti, 2014. "What the Rich Won Over the Past 35 Years and What Everyone Else Lost," Working Papers 2014-08, American University, Department of Economics.
    11. John Marangos & Charles J. Whalen, 2011. "Evolution without fundamental change: the Washington Consensus on economic development," Chapters,in: Financial Instability and Economic Security after the Great Recession, chapter 8, pages 153-178 Edward Elgar Publishing.
    12. David A. Zalewski & Charles J. Whalen, 2011. "Towards a more rapid recovery: incorporating subsidiarity into macroeconomic policy," Chapters,in: Financial Instability and Economic Security after the Great Recession, chapter 5, pages 93-113 Edward Elgar Publishing.
    13. Yun K. Kim, 2017. "Rise of Household Debt and the Great Recession in the US: Comparative Perspectives," Working Papers 2017_03, University of Massachusetts Boston, Economics Department.
    14. Robert Prasch, 2013. "Insights from Thorstein Veblen," Chapters,in: The Economic Crisis in Retrospect, chapter 3, pages 43-77 Edward Elgar Publishing.
    15. Todorova, Zdravka, 2013. "Consumption as a Social Process within Social Provisioning and Capitalism: Implications for Heterodox Economics," MPRA Paper 51516, University Library of Munich, Germany.
    16. Todorova, Zdravka, 2014. "From Monetary Theory of Production to Culture-Nature Life Process:Feminist-Institutional Elaborations of Social Provisioning," MPRA Paper 54681, University Library of Munich, Germany.
    17. van Treeck, Till. & Sturn, Simon., 2012. "Income inequality as a cause of the Great Recession? : A survey of current debates," ILO Working Papers 994709343402676, International Labour Organization.
    18. William Waller, 2011. "Teaching Political Economy to Undergraduate Students," Chapters,in: International Handbook on Teaching and Learning Economics, chapter 61 Edward Elgar Publishing.
    19. Fadhel Kaboub, 2011. "Understanding and preventing financial instability; Post-Keynesian Institutionalism and government employer of last resort," Chapters,in: Financial Instability and Economic Security after the Great Recession, chapter 4, pages 77-92 Edward Elgar Publishing.
    20. repec:oup:indcch:v:26:y:2017:i:1:p:1-20. is not listed on IDEAS
    21. Martin Mandel & Vladimír Tomšík, 2015. "Dynamika a rovnováha úspor, investic a úvěru v hospodářském cyklu: příklad České republiky
      [Dynamics and Balance of Savings, Investments, and Credits in Business Cycle: The Case of the Czech Republ
      ," Politická ekonomie, University of Economics, Prague, vol. 2015(1), pages 32-56.
    22. Mark Setterfield, 2017. "Long-run variation in capacity utilization in the presence of a fixed normal rate," Working Papers 1704, New School for Social Research, Department of Economics.

    More about this item

    Book Chapters

    The following chapters of this book are listed in IDEAS

    Keywords

    Economics and Finance;

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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