References
- Altonji, J., Contractor, Z., Finamor, L., Haygood, R., Lindenlaub, I., Meghir, C., Cormac, O., Scott, D., Wang, L., & Washington, E. (2020). Employment effects of unemployment insurance generosity during the pandemic. Tobin Center for Economic Policy. https://tobin.yale.edu/sites/default/files/files/C-19%20Articles/CARES-UI_identification_vF(1).pdf
- Amiram, D., & Rabetti, D. (2020). The relevance of relationship lending in times of crisis. SSRN, Electronic Journal, Paper no. 3701587. https://doi.org/10.2139/ssrn.3701587
- Armantier, O., Goldman, L., Kosar, G., & van der Klaauw, W. (2021, April 7). An update on how households are using stimulus checks. Liberty Street Economics, New York Federal Reserve. https://libertystreeteconomics.newyorkfed.org/2021/04/an-update-on-how-households-are-using-stimulus-checks/
- Atkins, R. M., Cook, L., & Seamans, R. (2022). Using technology to tackle discrimination in lending: The role of Fintechs in the paycheck protection program. AEA Papers and Proceedings, 112, 296–298. https://www.aeaweb.org/articles?id=10.1257/pandp.20221030 https://doi.org/10.1257/pandp.20221030
- Autor, D., Cho, D., Crane, L. D., Goldar, M., Lutz, B., Montes, J., Peterman, W. B., Ratner, D., Villar, D., & Yildirmaz, A. (2022). The $800 billion paycheck protection program: Where did the money go and why did it go there? Journal of Economic Perspectives, 36(2), 55–80. https://doi.org/10.1257/jep.36.2.55
- Baranes, A. I. (2020). Intangible assets and the financialized business enterprise: A Veblen-Commons approach. Journal of Economic Issues, 54(3), 692–709. https://doi.org/10.1080/00213624.2020.1778973
- Baranes, A. I. (2022). Financialization and employment: A post-Keynesian Institutionalist understanding of the transnational corporation under money manager capitalism. In C. Whalen (Ed.), A modern guide to post-Keynesian Institutional economics (pp. 59–88). Edward Elgar.
- Baranes, A. I., & Coward Bucher, C. (2022). Classification systems and the Veblenian dichotomy: An interdisciplinary approach to social stratification. Journal of Economic Issues, 56(2), 570–577. https://doi.org/10.1080/00213624.2022.2065855
- Barnett, M. (2020). COVID-19 and the sacrificial international order. International Organization, 74(S1), E128–E147. https://doi.org/10.1017/S002081832000034X
- Buffington, C., Chapman, D., Dinlersoz, E., Foster, L., & Haltiwanger, J. (2021). High-frequency data from the U.S. Census Bureau during the COVID-19 pandemic: Small vs. new businesses. Business Economics (Cleveland, Ohio), 56(3), 155–167. https://doi.org/10.1057/s11369-021-00229-0
- Bullard, J. (2020, November 10). Monetary policy and fiscal policy responses to the COVID-19 crisis. Federal Reserve Bank of St. Louis. https://www.stlouisfed.org/publications/regional-economist/fourth-quarter-2020/monetary-policy-fiscal-policy-responses-covid-crisis
- Bureau of Labor and Statistics (BLS). (2021). Labor force statistics from the current population survey. Bureau of Labor and Statistics. https://www.bls.gov/cps/
- Casselman, B. (2021, June 25). A survey finds support for halting federal unemployment benefits. New York Times. https://www.nytimes.com/2021/06/25/business/economy/unemployment-benefits-survey.html
- Chetty, R., Friedman, J. N., Hendren, N., Stepner, M., & the Opportunity Insights Team. (2020). The economic impacts of COVID-19: Evidence from a new public database built using private sector data. Opportunity Insights. https://opportunityinsights.org/wp-content/uploads/2020/05/tracker_paper.pdf
- Citron, D. K., & Pasquale, F. A. (2014). The scored society: Due process for automated predictions. Washington Law Review, 89(1), 2–33.
- Clarida, R. H., Duygan-Bump, B., & Scotti, C. (2021). The COVID-19 crisis and the Federal Reserve’s policy response. Finance and Economics Discussion Series 2021-035. Washington: Board of Governors of the Federal Reserve System. https://www.federalreserve.gov/econres/feds/files/2021035pap.pdf https://doi.org/10.17016/FEDS.2021.035
- Coibion, O., Gorodnichenko, Y., & Weber, M. (2020). How did US consumers use their stimulus payments? NBER Working Paper No. 27693. https://www.nber.org/papers/w27693
- Creola, J. (2002). Payday loans: Shrewd business or predatory lending? Minnesota Law Review, 87, 1–152.
- Darity, W. A., Hamilton, D., & Stewart, J. B. (2015). A tour de force in understanding intergroup inequality: An introduction to stratification economics. The Review of Black Political Economy, 42(1–2), 1–6. https://doi.org/10.1007/s12114-014-9201-2
- Davis, L. E. (2016). Identifying the ‘financialization’ of the nonfinancial corporation in the U.S. economy: A decomposition of firm-level balance sheets. Journal of Post Keynesian Economics, 39(1), 115–141. https://doi.org/10.1080/01603477.2015.1116370
- Davis, L. E. (2018). Financialization, shareholder orientation and the cash holdings of US corporations. Review of Political Economy, 30(1), 1–27. https://doi.org/10.1080/09538259.2018.1429147
- Dean, L. T., & Nicholas, L. H. (2018). Using Credit Scores to Understand Predictors and Consequences of Disease. American Journal of Public Health, 108(11), 1503–1505.
- Dey, M., & Loewenstein, M. A. (2020, April). How many workers are employed in sectors directly affected by COVID-19 shutdowns, where do they work, and how much do they earn? Bureau of Labor and Statistics. https://www.bls.gov/opub/mlr/2020/article/covid-19-shutdowns.htm
- Economic Policy Institute (EPI). (2020). The productivity-pay gap. Economic Policy Institute. https://www.epi.org/productivity-pay-gap/
- Emmons, W. R., & Dahl, D. (2022). Was the paycheck protection program effective. Federal Reserve Bank of St. Louis. https://www.stlouisfed.org/publications/regional-economist/2022/jul/was-paycheck-protection-program-effective
- Epstein, G. A. (2002). Financialization, rentier interests, and central bank policy. PERI Conference. https://www.peri.umass.edu/publication/item/77-financialization-rentier-interests-and-central-bank-policy
- Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control. The Journal of Law and Economics, 26(2), 301–325. https://doi.org/10.1086/467037
- Federal Reserve. (2020a, June 10). Federal Reserve issues FOMC statement. Federal Reserve press release. https://www.federalreserve.gov/newsevents/pressreleases/monetary20200610a.htm
- Federal Reserve. (2020b, March 15). Federal Reserve actions to support the flow of credit to households and businesses. Federal Reserve press release. https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315b.htm
- Federal Reserve. (2020c, March 15). Federal Reserve issues FOMC statement. Federal Reserve press release. https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315a.htm
- Federal Reserve. (2020d, March 23). Federal Reserve issues FOMC statement. Federal Reserve press release. https://www.federalreserve.gov/newsevents/pressreleases/monetary20200323a.htm
- Federal Reserve. (2020e, September 16). Federal Reserve issues FOMC statement. Federal Reserve press release. https://www.federalreserve.gov/newsevents/pressreleases/monetary20200916a.htm
- Federal Reserve. (2021). Funding, credit, liquidity, and loan facilities. Board of Governors of the Federal Reserve System. https://www.federalreserve.gov/funding-credit-liquidity-and-loan-facilities.htm
- Federal Reserve Economic Database (FRED). (2022). Corporate profits after tax. Federal Reserve Bank of St. Louis. Retrieved September 4, 2022, from https://fred.stlouisfed.org/series/CP
- Fourcade, M., & Gordon, J. (2020). Learning like a state: Statecraft in the digital age. Journal of Law and Political Economy, 1(1), 78–108. https://doi.org/10.5070/LP61150258
- Fourcade, M., & Healy, K. (2013). Classification situations: Life-chances in the neoliberal era. Accounting, Organizations and Society, 38(8), 559–572. https://doi.org/10.1016/j.aos.2013.11.002
- Fourcade, M., & Healy, K. (2017). Categories all the way down. Historical Social Research, 42(1), 286–296.
- Friedman, M. (1970/2002). Capitalism and freedom. The University of Chicago Press.
- Froud, J., Haslam, C., Johal, S., Shaoul, J., & Williams, K. (1996). Stakeholder economy? From utility privatisation to new labour. Capital & Class, 20(3), 119–134. https://doi.org/10.1177/030981689606000106
- Gathergood, J., Guttman-Kenney, B., & Hunt, S. (2019). How do payday loans affect borrowers? Evidence from the U.K. market. The Review of Financial Studies, 32, 496–523. https://doi.org/10.1093/rfs/hhy090
- Gemelas, J., Davison, J., Keltner, C., & Ing, S. (2021). Inequities in employment by race, ethnicity, and sector during COVID-19. Journal of Racial and Ethnic Health Disparities, 9(1), 350–355. https://doi.org/10.1007/s40615-021-00963-3
- Greenwood, R., Laarits, T., & Wurgler, J. (2023). Stock market stimulus. NBER Working Paper No. 29827. https://www.nber.org/papers/w29827
- Hartman, Y. (2005). In bed with the enemy: Some ideas on the connections between neoliberalism and the welfare state. Current Sociology, 53(1), 57–73. https://doi.org/10.1177/0011392105048288
- Humphries, J. E., Neilson, C., & Ulyssea, G. (2020). The evolving impacts of COVID-19 on small businesses since the CARES Act. Cowles Foundation Discussion Paper No. 2230. https://cowles.yale.edu/publications/cfdp/cfdp-2230
- Hurly, M., & Adebayo, J. (2016). Credit scoring in the era of big data. Yale Journal of Law and Technology, 18, 148–217.
- Internal Revenue Service (IRS). (2023a). S Corporations. Internal Revenue Service. Retrieved January 20, from https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations
- Internal Revenue Service (IRS). (2023b). Limited Liability Company (LLC). Internal Revenue Service. Retrieved March 2, from https://www.irs.gov/businesses/small-businesses-self-employed/limited-liability-company-llc
- Jensen, M. C., & Meckling, W. H. (1976). The theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
- Karger, E., & Rajan, A. (2020). Heterogeneity in the marginal propensity to consume: Evidence from COVID-19 stimulus payments. Federal Reserve Bank of Chicago Working Paper No. 2020-15. https://www.econstor.eu/bitstream/10419/230393/1/1700287443.pdf
- Komlos, J. (2021a). A black-swan shock exposes the deep fissures, endemic imbalances, and structural weaknesses of the U.S. economy. Real-World Economics Review, 97, 40–61.
- Komlos, J. (2021b). The Becker model of discrimination is anachronistic and should no longer be taught. Real-World Economics Review, 98, 87–91.
- Komlos, J. (2020). The actual unemployment rate was 24.4% in May 2020. CESifo Working Paper no. 8383. https://www.cesifo.org/DocDL/cesifo1_wp8383.pdf
- Komlos, J. (2023). Foundations of real-world economics: What every economics student needs to know (3rd ed.). Routledge.
- Krippner, G. R. (2005). The financialization of the American economy. Socio-Economic Review, 3(2), 173–208. https://doi.org/10.1093/SER/mwi008
- Krippner, G. R. (2011). Capitalizing on crisis: The political origins of the rise of finance. Harvard University Press.
- Lamont, M. (2012). Toward a comparative sociology of valuation and evaluation. Annual Review of Sociology, 38(1), 201–221. https://doi.org/10.1146/annurev-soc-070308-120022
- Lazonick, W. (2010). Innovative business models and varieties of capitalism: Financialization of the U.S. Corporation. Business History Review, 84(4), 675–702. https://doi.org/10.1017/S0007680500001987
- Lazonick, W., & O’Sullivan, M. (2000). Maximizing shareholder value: A new ideology for corporate governance. Economy and Society, 29(1), 13–35. https://doi.org/10.1080/030851400360541
- Lee, F. S. (2018). Microeconomic theory: A heterodox approach (T.-H. Jo, Ed.). Routledge.
- Li, L., & Strahan, P. E. (2021). Who supplies PPP loans (and does it matter)? Banks, relationships, and the COVID crisis. Journal of Financial and Quantitative Analysis, 56(7), 2411–2438. https://doi.org/10.1017/S0022109021000405
- McMillan Cottom, T. (2016). Black cyberfeminism: Intersectionality, institutions, and digital sociology. In J. Daniels & K. Gregory (Eds.), Digital sociologies. Policy Press.
- Minsky, H. P. (1988). Schumpeter: Finance and evolution. Hyman P. Minsky Archive no. 314. https://digitalcommons.bard.edu/hm_archive/314/
- Norris, D. (2021). Embedding racism: City government credit ratings and the institutionalization of race in markets. Social Problems, spab066, 1–21. https://doi.org/10.1093/socpro/spab066
- O’Neil, C. (2016). Weapons of math destruction: How big data increases inequality and threatens democracy. Crown.
- Opportunity Insights. (2022). Opportunity insights economic tracker. Harvard University. https://www.tracktherecovery.org/
- Palley, T. I. (2007). Financialization: What it is and why it matters. Levy Economics Institute Working Paper No. 525. https://www.levyinstitute.org/pubs/wp_525.pdf
- Palley, T. I. (2021). Financialization revisited: The economics and political economy of the vampire squid economy. PKES Working Papers No. 2110. https://www.postkeynesian.net/working-papers/2110/
- Pathak, E. B., Menard, J. M., Garcia, R. B., & Salemi, J. L. (2022). Joint effects of socioeconomic position, race/ethnicity, and gender on COVID-19 mortality among working-age adults in the United States. International Journal of Environmental Research and Public Health, 19(9), 5479–5494. https://doi.org/10.3390/ijerph19095479
- Petrosky-Nadeau, N., & Valletta, R. G. (2021). UI generosity and job acceptance: Effects of the 2020 CARES Act. Federal Reserve Bank of San Francisco Working Paper Series No. 2021-13. https://www.frbsf.org/economic-research/wp-content/uploads/sites/4/wp2021-13.pdf
- Phillips, M. (2021, March 21). Recast as ‘Stimmies’, Federal relief checks drive a stock buying spree. New York Times. https://www.nytimes.com/2021/03/21/business/stimulus-check-stock-market.html
- Pressman, S., & Scott, R. (2020). Seeing red: Households awash in debt. Paper Presentation at the ASSA 2020 Annual Meeting, January.
- Romer, C. D. (2021). The fiscal policy response to the pandemic. Brookings Papers on Economic Activity, Spring, 89–110.
- Romer, C. D., & Romer, D. H. (2021). A social insurance perspective on pandemic fiscal policy: Implications for unemployment insurance and hazard pay. NBER Working Paper No. 29419. https://www.nber.org/papers/w29419
- S&P Global. (2021). Q1 2021 S&P 500 buybacks double their post-covid low; Companies Repurchased 36.5% more shares than in Q4 2020. S&P Global Press Release, June 15. https://press.spglobal.com/2021-06-15-Q1-2021-S-P-500-Buybacks-Double-their-Post-Covid-Low-Companies-repurchased-36-5-more-shares-than-in-Q4-2020
- Saez, E., & Zucman, G. (2016). Wealth inequality in the United States since 1913: Evidence from Capitalized Income Tax Data. The Quarterly Journal of Economics, 131(2), 519–578. https://doi.org/10.1093/qje/qjw004
- Securities and Exchange Commission (SEC). (2016). Division of trading and markets: Answers to frequently asked questions concerning Rule 10b-18 (“safe harbor” for issuer repurchases). U.S. Securities and Exchange Commission. https://www.sec.gov/divisions/marketreg/r10b18faq0504.htm
- Serfati, C. (2008). Financial dimensions of transnational corporations, global value chain, and technological innovation. Journal of Innovation Economics & Management, 2(2), 35–61. https://doi.org/10.3917/jie.002.0035
- Skiba, P. M., & Tobacman, J. (2019). Do payday loans cause bankruptcy? The Journal of Law and Economics, 62(3), 485–519. https://doi.org/10.1086/706201
- Small Business Administration. (2023). PPP FOIA. U.S. Small Business Administration. https://data.sba.gov/dataset/ppp-foia
- Stout, L. A. (2012). The problem of corporate purpose. Brookings Issues in Governance Studies No. 48. https://www.brookings.edu/wp-content/uploads/2016/06/Stout_Corporate-Issues.pdf
- Tcherneva, P. R. (2020). Guaranteeing employment during the pandemic and beyond. Levy Economics Institute Policy Note 2020/4. https://www.levyinstitute.org/publications/guaranteeing-employment-during-the-pandemic-and-beyond
- U.S. Congress. (2020). House. Small business; ways and means. Paycheck Protection Program Flexibility Act of 2020. 116th Cong., HR 7010. https://www.congress.gov/bill/116th-congress/house-bill/7010/text
- U.S. Department of Treasury. (2022). Paycheck protection program. U.S. Department of the Treasury. Retrieved September 7, from https://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesses/paycheck-protection-program
- Waldman, D. E., & Jensen, E. J. (2013). Industrial organization: Theory and practice (4th ed.). Pearson.
- Weber, M. (1968). Economy and society. Bedminster.
- Wolff, E. N. (2014). Who owns stock in American corporations? Proceedings of the American Philosophical Society 158: 372–391.
- Wolff, E. N. (2021). The declining wealth of the middle class, 1983–2016. Contemporary Economic Policy, 39(3), 461–478. https://doi.org/10.1111/coep.12513
- World Health Organization. (2023, February). WHO coronavirus dashboard. Retrieved February 23, 2023, from https://covid19.who.int/?mapFilter=deaths