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Inequality and Its Discontents: The Real Causes and Consequences of the Crisis

In: Consequences of Economic Downturn

Author

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  • Steven Pressman

Abstract

Over the past several decades, one case for deregulating financial markets has been that this would release the forces of financial innovation for the good of all. Unhindered financial markets were supposed to increase efficiency in financial markets and reduce costs to borrowers, which would benefit the whole economy. Greater access to credit would increase consumption, spur business investment, raise the rate of homeownership, increase productivity, and enable Americans to enjoy a higher standard of living.

Suggested Citation

  • Steven Pressman, 2011. "Inequality and Its Discontents: The Real Causes and Consequences of the Crisis," Perspectives from Social Economics, in: Martha A. Starr (ed.), Consequences of Economic Downturn, chapter 0, pages 83-101, Palgrave Macmillan.
  • Handle: RePEc:pal:pfschp:978-0-230-11835-5_5
    DOI: 10.1057/9780230118355_5
    as

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