Munich Personal RePEc Archive

Financialization Historically Contemplated

Tsaliki, Persefoni and Tsoulfidis, Lefteris (2021): Financialization Historically Contemplated.

[thumbnail of MPRA_paper_113634.docx] PDF

Download (908kB)
[thumbnail of MPRA_paper_113634.pdf]

Download (1MB) | Preview


This article examines the extent to which financialization is a new phase of capital accumulation characterized by its own economic laws in which the real (production) economy adjusts accordingly. In order to examine this hypothesis, we invoke the share of the financial sector in the GDP of the USA, as the best meaningful metric to approximate the expansion of the financialization over time. Our findings suggest that the financialization phenomena of the post-1982 years are comparable to those of the “roaring 1920s”. The observed differences are quantitative, in the main, and although they suggest the presence of regularities; nevertheless, they do not suggest an altogether different stage of a finance-led capitalism.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.