Title
Inequality, Consumer Credit and the Saving Puzzle (New Directions in Modern Economics series),Used
Delivery time: 8-12 business days (International)
Providing much needed context for current events like the subprime mortgage crisis, this timely book presents a vision of an economy evolved to greater dependence on consumer credit and analyzes the tradeoffs and risks associated with it. While synthesizing the Keynesian theory of consumption with the Institutional theory of habit selection (brought up to date with new knowledge from evolutionary biology and neuroscience), this book represents an indepth treatment of the macroeconomic dimensions of consumer credit and implications of recent financial innovations from a nontraditional economic approach.Some of the effects of consumer credit dependence include the potential for illiquidity in markets for debtcollateralized securities, subprime contagion, or the possibility of a Minskytype debt deflation episode. The author also argues that a sharp increase in borrowing by US households over the past 20 years, aided by financial innovations such as the securitization of consumer loans and subprime lending, have lessened the harmful consequences of income inequality, and that the collapse of personal saving after 1993 is actually a gradual trend of consumer habits conforming to the imperatives of corporatism.The book's primary audience will be academic economists in sympathy with heterodox and pluralist approaches. It sets forth an institutional or 'topdown' theory of household spending behavior that should be of interest to readers in fields such as sociology, consumer or family studies, psychology, or anthropology. Much of the book is technically accessible for noneconomists and students.
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⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
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Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
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Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.