Sunday, May 15, 2016

The Economy Is Increasingly
A Financial Economy
Time article highlights the trend towards financializationm, an academic term for the trend by which "Wall Street and its methods have come to reign supreme in America, permeating not just the financial industry but also much of American business. It includes everything from the growth in size and scope of finance and financial activity in the economy; to the rise of debt-fueled speculation over productive lending; to the ascendancy of shareholder value as the sole model for corporate governance; to the proliferation of risky, selfish thinking in both the private and public sectors; to the increasing political power of financiers and the CEOs they enrich." .. the implications of this are dire for the economy.
LINK HERE to the article

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