Gerald Epstein

Dr. Gerald Epstein is Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts Amherst. Among his recent works is Handbook of the Political Economy of Financial Crises, published by Oxford University Press in 2013 and co-edited with Martin Wolfson.

A healthy financial system is crucial to a stable and productive market economy. But after decades of deregulation, the U.S. financial system has turned into a highly speculative system that has failed spectacularly at doing its job. My new report, “Overcharged: The High Cost of High Finance,” written with Juan Montecino and published by the

A healthy financial system is one that channels finance to productive investment, helps families save for and finance big expenses such as higher education and retirement, provides products such as insurance to help reduce risk, creates sufficient amounts of useful liquidity, runs an efficient payments mechanism, and generates financial innovations to do all these useful