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Simon Mohun, The Relevance of the Financial Crisis

by Bill Dunn on March 14, 2018

Simon Mohun, The Relevance of the Financial Crisis

Bill Dunn | March 14, 2018

Tags: crisis
crisis
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Simon Mohun, The Relevance of the Financial Crisis

With a return visit to the Department of Political Economy at the University of Sydney, Simon Mohun extends his work on the classical surplus-based tradition in economics. As he writes on his Research in Political Economy home page, “one of the striking features of this tradition has been its difficulty in addressing actual trends of contemporary capitalist development. A common approach has been either to abandon empirical investigation in favour of high theory, or to engage with the empirical world in a theoretically cavalier manner. This context of a divorce between theory and empirical evidence has formed the background to my research”, which will be related in this talk to the financial crisis.

The financial crisis was driven by two separate events: first, a crisis of profitability in conventional banking in the 1980s, resolved by restructuring the banking industry; and, second, by the huge shift in income distribution towards the top (the 1%) over the neoliberal era. The juxtaposition of these two factors explains why the crisis broke out in wholesale money markets, where those with bonds who need cash meet those with cash who need bonds. This remains relevant as little has changed.

Venue: Merewether Seminar Room, 498

Date: Thursday 22 March 4:00 – 5:30 pm

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Author: Bill Dunn

Bill Dunn works in the Department of Political Economy at the University of Sydney. His principal research interests are in the contemporary global political economy of labour, crises, international trade and Marxism.

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  • Home
  • About
  • Manchester University Press Book Series
  • Past & Present Reading Group
  • A Political Economy of Australian Capitalism
  • Journal of Australian Political Economy (JAPE)
    • Journal of Australian Political Economy (JAPE)
    • JAPE Issues
    • JAPE Submission Guidelines
    • JAPE Young Scholar Award
  • Australian IPE Network (AIPEN)
  • Forums
    • Forums
    • Debating Anatomies of Revolution
    • Debating Debtfare States
    • Debating Economic Ideas in Political Time
    • Debating Mass Strikes and Social Movements in Brazil and India
    • Debating Social Movements in Latin America
    • Debating The Making of Modern Finance
    • Debating War and Social Change in Modern Europe
    • Feminist Global “Secureconomy”
    • Gendered Circuits of Labour and Violence in Global Crises
    • Scandalous Economics
    • The Military Roots of Neoliberal Governance
    • Politicising artistic pedagogies
  • Literary Geographies of Political Economy
  • Pedagogy
    • Five Minute Honours Theses
    • Piketty Forum
    • Radical Economics Pedagogy
    • Unconventional Wisdom
    • Journal Club
    • Marxism Reading Group
  • Wheelwright Lecture
  • Events
  • Contributors
  • Links
    • Political Economy At Sydney
    • PHD in Political Economy
    • Master of Political Economy
    • Centre for Future Work
    • Centre for the Study of Social and Global Justice (CSSGJ)
    • Climate Justice Research Centre (UTS)
 

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