Costas Lapavitsas is Professor in Economics at the School of Oriental and African Studies of the University of London and specialised in the theory of banking and finance. Costas Lapavitsas is member of Research on Money and Finance, a network of political economists that have a track record in researching money and finance. It aims to generate analytical work on the development of the monetary and the financial system in recent years. A further aim is to produce synthetic work on the transformation of the capitalist economy, the rise of fictionalization and the resulting intensification of crises.
The crisis of 2007-2009 arose after the burst of an enormous bubble in real estate in the USA and the UK. But the underlying trends that led to it are characteristic of financialisation in developed countries. The crisis also drew in a range of de...read more