While focus on the effects of inequality on household indebtedness is widespread, few economists have recognized the pernicious effects of household debt on inequality. Giorgos Gouzoulis develops this connection thoroughly. In the process, he fills a vitally important gap, connecting finance to working households disempowerment, lagging wages, and growing insecurity", Mark Setterfield, Leo Model Professor of Economics, The New School For Social Research. "A powerful and timely study showing how debt and financialization reshape work and weaken labour. Gouzoulis also shows how collective power can be rebuilt", Costas Lapavitsas, University of London, SOAS.
Financialization generates spectacular wealth for the 1%, and precarity and inequality for the rest of us. But what if we could change that? What if financialization generates new opportunities for unions of tenants, debtors and workers? Read this, and get organized!, Hannah Appel, UCLA. A fascinating book showing how financialized capitalism has been used to discipline labour and reinforce inequality. The solution has to come from wealth redistribution. A must-read, Thomas Piketty, EHESS and Paris School of Economics.
This book offers a clear, insightful, and highly readable analysis of the rise of financialization and widespread indebtedness, and how these changes are undermining workers and degrading their bargaining power, Christopher Kollmeyer, University of Aberdeen.
