The Corruption of Capitalism: Why rentiers thrive and work does not pay by Guy Standing

Author:Guy Standing [Standing, Guy]
Language: eng
Format: epub
Publisher: Biteback Publishing
Published: 0101-01-01T00:00:00+00:00

NOTES

1 ‘The never-ending story’, The Economist, 20 November 2015, p. 13.

2 C. Reinhart and K. Rogoff, ‘Growth in a Time of Debt’, NBER Working Paper No. 15639 (Cambridge, MA: National Bureau of Economic Research, 2010).

3 T. Herndon, M. Ash and R. Pollin, Does high public debt consistently stifle economic growth? A critique of Reinhart and Rogoff (Amherst: Political Economy Research Institute, University of Massachusetts, 2013).

4 A. Pescatori, D. Sandri and J. Simon, ‘Debt and Growth: Is There a Magic Threshold?’, IMF Working Paper WP/14/34, February 2014.

5 For example, D. Igan, D. Leigh, J. Simon and P. Topalova, ‘Dealing with household debt’, in S. Claessens, M. Ayhen Kose, L. Laeven and F. Valencia (eds), Financial Crises: Causes, Consequences, and Policy Responses (Washington DC: IMF, 2014); A. Mian and A. Sufi, House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It Happening Again (Chicago: University of Chicago Press, 2014).

6 M. Lazzarato, The Making of the Indebted Man: An Essay on the Neoliberal Condition (Los Angeles: Semiotext, 2012). For a related perspective, see D. Graeber, Debt: The First 5,000 Years (New York: Melville House, 2011).

7 A. Ross, Creditocracy and the Case for Debt Refusal (New York: OR Books, 2014).

8 Richard Dobbs, cited in R. Atkins, ‘Debt mountains spark fears of another crisis’, Financial Times, 5 February 2015.

9 A. Turner, Between Debt and the Devil: Money, Credit and Fixing Global Finance (Princeton: Princeton University Press, 2015).

10 ‘As safe as houses’, The Economist, 31 January 2015.

11 L. Buttiglione, P. R. Lane, L. Reichlin and V. Reinhart, ‘Deleveraging: What Deleveraging?’, Geneva Report on the World Economy 16 (Geneva: International Centre for Monetary and Banking Studies, 2014).

12 A morally inappropriate response has been proposed by influential behavioural economists linked to the nudge units in the White House and 10 Downing Street. This is to ban people from over-borrowing. As one enthusiast put it, ‘What is the big deal? Let’s limit people’s ability to hurt themselves in borrowing, like we do with seatbelts in driving.’ D. Ariely, Predictably Irrational: The Hidden Forces that Shape our Decisions (New York: Harper Collins, 2008). This would be arbitrary, subjective, costly and an obvious intrusion into freedom.

13 Cited in W. K. Tabb, The Restructuring of Capitalism in Our Time (New York: Columbia University Press, 2012), pp. 39–40.

14 D. Gibbons and L. Vaid, Britain in the Red: Provisional Report, Centre for Responsible Credit, September 2015.

15 A. Traub, Discredited: How Employment Credit Checks Keep Qualified Workers Out of a Job (New York: Demos, 2012).

16 J. Kollewe, ‘First-time buyers need to earn £77,000 a year to live in London’, The Guardian, 4 May 2015.

17 M. Taylor, ‘Housing is the nation’s most urgent and complex challenge. Yet we’re paralysed’, The Observer, 16 August 2015.

18 ‘Build it and they will rent’, The Economist, 19 September 2015, p. 30.

19 D. Gibbons and L. Vaid, op. cit.

20 P. N. da Costa, ‘Big banks and the White House are teaming up to fleece poor people’, Foreign Policy, 23 February 2016.

21 M. Arnold, ‘Beyond banking: Lenders face mortgages challenge from P2Ps’, Financial Times, 13 November 2015.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.