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Financialization, financial crisis and deficit hysteria: neo-liberalism redux

Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSNChapter (peer-reviewed)



This chapter explores the origins of the financial crisis in Britain in the neo-liberal regime shift signified as Thatcherism. It highlights a 1989 report from the Bank of England on the challenges to economic performance associated with the dominance of the City of London and shows that these challenges have been intensified in the intervening years. It identifies the contradictions and crisis-tendencies of finance-dominated accumulation and offers an explanation for the superficially surprising survival of the neo-liberal momentum of financialization following the financial crisis.