Book Talk: The Fall and Rise of American Finance
On Thursday, February 10, 2024, The People’s Forum in New York City will host a book talk with Stephen Maher and Scott Aquanno, the authors of the new book The Fall and Rise of American Finance: From J.P. Morgan to Blackrock. The book is a provocative and original analysis of the history and development of American finance, and its role in shaping the political economy and society of the United States. The book talk will be an opportunity to hear from the authors and engage in a discussion about their arguments and findings.
The book challenges the conventional view that financialization, the process by which finance has become dominant over industry and the state, has led to the decline and decay of American capitalism. Instead, the book argues that financialization has been a source of strength and resilience for American capital and that it has been supported and facilitated by an increasingly powerful and authoritarian state. The book traces the evolution of American finance from the era of J.P. Morgan and the rise of the corporate form, to the era of BlackRock and the rise of the asset management firm. The book shows how finance has adapted and transformed in response to various crises and challenges, and how it has shaped and influenced the economic, social, and political landscape of the country.
The book also reveals the emergence of a new finance capital, a new economic regime that is marked by the unprecedented concentration and centralization of financial power and control in the hands of the “Big Three” asset management firms: BlackRock, Vanguard, and Fidelity. The book examines the implications and consequences of this new finance capital for the future of American capitalism and democracy and the prospects of progressive and radical alternatives.
The book talk will be a stimulating and informative event that will appeal to anyone interested in the history and politics of American finance, and its impact on the world. The book talk will take place at The People’s Forum, a cultural and educational center that aims to foster social movements and collective action.
Time: 2:00 pm EST
Free!
