Description
An eye-opening account of the failures of our financial system, the sources of its staying power, and the path to meaningful economic reform.
Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system-and the struggle to create an alternative.
Drawing from decades of research on the history, economics, and politics of banking, economist Gerald Epstein shows that any meaningful reform will require breaking up this club of politicians, economists, lawyers, and CEOs who sustain the status quo. Thankfully, there are thousands of activists, experts, and public officials who are working to do just that. Clear-eyed and hopeful, Busting the Bankers' Club centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy.
About the Author
Gerald Epstein is Professor of Economics and a Founding Codirector of the Political Economy Research Institute at the University of Massachusetts Amherst. He is the author of The Political Economy of Central Banking: Contested Control and the Power of Finance.
Reviews
"Gerald Epstein has done something that has needed doing since 2008 -- he has written a book that explains our complex, captured financial system to the lay reader. In simple, clear prose, he outlines why we are still fighting financial fires, and what we can do to bridge the Wall Street-Main Street divide. A wonderful way to understand how finance became the tail that wags the dog of our economy. " -- Rana Foroohar, Associate Editor, Financial Times
"In this incisive chronicle, Epstein (The Political Economy of Central Banking) . . . surveys how deregulating banking turned the financial institutions into engines of inequality and liabilities to the economy. . . . Epstein's skill in describing financial matters plainly is a boon. Epstein convinces with this potent plan for ending the era of 'too big to fail.'" * Publishers Weekly *
"A cleareyed view of the financial system's woes, all addressable if only the political and economic will is there." * Kirkus Reviews *
"Clear-eyed and hopeful, Busting the Bankers' Club centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy. . . . [the book] is an extraordinary and timely study that will have immense value to readers with an interest in the relationship of banks, the U.S. economy, and the methods used by the banking industry to influence governmental policy makers. Exceptionally well written, organized and presented." * Midwest Book Review *
"Exposes the banking cartel that has hijacked U.S. democracy." * Wall Street On Parade *
"[P]eppered with colorful metaphors and anecdotes, Busting the Bankers' Club is a practical and valuable resource for campaigners, journalists, policymakers, and anyone interested in the mechanics of Wall Street's influence on key institutions of American democracy." * Public Seminar *
"Most people in the United States old enough to seek a job and a credit card probably already vaguely understand the system as rigged against them. Epstein gracefully and readably explains who did the recent version of that rigging and how it works." * Organize North Carolina *
"Explains how various industry leaders and lawyers sustain the power of the finance industry through multiple channels and techniques of influence." * Journal of Economic Literature *
"In Busting the Bankers Club Epstein has offered a brilliant approach to how the historical changes in the financial system have come to happen through political struggles and the different channels of influence that have constructed the Bankers' Club. Regardless of the challenge of transforming the financial system, Busting the Bankers Club offers good news: through the efforts of the Club Busters, transformations do not need to start from zero." * Review of Political Economy *
"A well-written, must-read book" * Dollars & Sense *
Book Information
ISBN 9780520385641
Author Gerald Epstein
Format Hardback
Page Count 384
Imprint University of California Press
Publisher University of California Press
Dimensions(mm) 229mm * 152mm * 33mm
Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system-and the struggle to create an alternative.
Drawing from decades of research on the history, economics, and politics of banking, economist Gerald Epstein shows that any meaningful reform will require breaking up this club of politicians, economists, lawyers, and CEOs who sustain the status quo. Thankfully, there are thousands of activists, experts, and public officials who are working to do just that. Clear-eyed and hopeful, Busting the Bankers' Club centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy.
About the Author
Gerald Epstein is Professor of Economics and a Founding Codirector of the Political Economy Research Institute at the University of Massachusetts Amherst. He is the author of The Political Economy of Central Banking: Contested Control and the Power of Finance.
Reviews
"Gerald Epstein has done something that has needed doing since 2008 -- he has written a book that explains our complex, captured financial system to the lay reader. In simple, clear prose, he outlines why we are still fighting financial fires, and what we can do to bridge the Wall Street-Main Street divide. A wonderful way to understand how finance became the tail that wags the dog of our economy. " -- Rana Foroohar, Associate Editor, Financial Times
"In this incisive chronicle, Epstein (The Political Economy of Central Banking) . . . surveys how deregulating banking turned the financial institutions into engines of inequality and liabilities to the economy. . . . Epstein's skill in describing financial matters plainly is a boon. Epstein convinces with this potent plan for ending the era of 'too big to fail.'" * Publishers Weekly *
"A cleareyed view of the financial system's woes, all addressable if only the political and economic will is there." * Kirkus Reviews *
"Clear-eyed and hopeful, Busting the Bankers' Club centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy. . . . [the book] is an extraordinary and timely study that will have immense value to readers with an interest in the relationship of banks, the U.S. economy, and the methods used by the banking industry to influence governmental policy makers. Exceptionally well written, organized and presented." * Midwest Book Review *
"Exposes the banking cartel that has hijacked U.S. democracy." * Wall Street On Parade *
"[P]eppered with colorful metaphors and anecdotes, Busting the Bankers' Club is a practical and valuable resource for campaigners, journalists, policymakers, and anyone interested in the mechanics of Wall Street's influence on key institutions of American democracy." * Public Seminar *
"Most people in the United States old enough to seek a job and a credit card probably already vaguely understand the system as rigged against them. Epstein gracefully and readably explains who did the recent version of that rigging and how it works." * Organize North Carolina *
"Explains how various industry leaders and lawyers sustain the power of the finance industry through multiple channels and techniques of influence." * Journal of Economic Literature *
"In Busting the Bankers Club Epstein has offered a brilliant approach to how the historical changes in the financial system have come to happen through political struggles and the different channels of influence that have constructed the Bankers' Club. Regardless of the challenge of transforming the financial system, Busting the Bankers Club offers good news: through the efforts of the Club Busters, transformations do not need to start from zero." * Review of Political Economy *
"A well-written, must-read book" * Dollars & Sense *
Book Information
ISBN 9780520385641
Author Gerald Epstein
Format Hardback
Page Count 384
Imprint University of California Press
Publisher University of California Press
Dimensions(mm) 229mm * 152mm * 33mm
