Figures ....................................................... vii
Tables ....................................................... viii
Preface and Acknowledgements for the Third Edition ............. ix
Introduction ................................................... xi
1. Financial Globalization Since the 1970s ...................... 1
I. The Rapid Expansion of International Finance, 1970 ...... 2
II. The Global Information Revolution and Global Finance .... 7
III. Governmental Deregulation and International Finance .... 11
IV. Interest Rate and Financial Strategy Parities .......... 16
V. Saver and Dissaver Countries ........................... 27
2. Financial Instabilities and Trends in the 1980s ............. 35
I. New Transactions and Asset Demands for Money, and
Monetary Velocity ...................................... 36
II. Financial Globalization and Monetary Velocity .......... 41
III. The Instability of the Income Velocity of Money in
the US ................................................. 44
IV. The Instability of the Income Velocity of Money in
Other Countries ........................................ 51
V. Case Study of US-Foreign Trade, 1981 ................... 56
VI. The 1982 Recessionary Period ........................... 62
VII. The World Debt Crisis, 1982 ............................ 71
VIII.The Stock Market Crash of 1987 ......................... 78
Appendix Regressions of US (ml) Income Velocity of Money
and Related Variables ............................. 84
3. Financial Instabilities and Trends in the 1990s ............. 87
I. The Early 1990s Recessionary Period .................... 87
II. The 1994-95 Mexican Crisis ............................. 97
III. Japan's Crisis, 1989 .................................. 100
IV. Asia's Crisis, 1997 ................................... 103
4. The Current Crisis: Common Patterns and New Thinking ....... 111
I. Summary of the Current Crisis ......................... 113
II. Common Patterns ....................................... 116
III. New Thinking: On Psychological, Social, and
'Transcendental' Factors .............................. 119
IV. New Thinking: On Evolutionary and Complex Systems ..... 123
V. Conclusions ........................................... 129
5. Toward a New Political Economy of Financial Crisis ......... 133
I. Issues and Scope of a New Political Economy of
Financial Crisis ...................................... 136
II. Recent US' Money-Mercantilism' ........................ 137
III. A Human Ecology Economics (НЕЕ) Approach to Further
Research .............................................. 144
IV. Different Kinds of Capital in the Human Ecology ....... 150
V. Conclusions ........................................... 158
References .................................................... 161
Index ......................................................... 169
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