Financialised Capitalism: Crisis and Financial Expropriation
Abstract
The current crisis is one outcome of the financialisation of contemporary capitalism. It arose in the USA because of the enormous expansion of mortgage-lending, including to the poorest layers of the working class. It became general because of the trading of debt by financial institutions. These phenomena are integral to financialisation. During the last three decades, large enterprises have turned to open markets to obtain finance, forcing...
Paper Details
Title
Financialised Capitalism: Crisis and Financial Expropriation
Published Date
Jan 1, 2009
Journal
Volume
17
Issue
2
Pages
114 - 148
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