Financial Economy

This book examines how contemporary financial economy evolved as the predominant economic system, and why unabated accumulation of financial capital takes place in such systems. It reviews the mechanics of accumulation of wealth by tracing the historical roots of financial capital. Traversing the evolutions of capitalist systems since the 1850s till recent times, the book provides a lucid and logical explanation of the phenomenon. It uses a new methodology based on economic circuit of stocks and flows and provides an alternative framework for studying economic systems design, keeping aside the orthodox neoclassical analysis of equilibrium market exchange.