Financialisation as a (it’s-not-meant-to-make-sense) gigantic global joke
Palma, J. G.
Cambridge Working Papers in Economics
Faculty of Economics, University of Cambridge
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Palma, J. G. (2022). Financialisation as a (it’s-not-meant-to-make-sense) gigantic global joke. https://doi.org/10.17863/CAM.81914
This paper analyses events in financial markets since the 2008 financial crisis in both the developed and the developing worlds, giving especial attention to the processes of ‘financialisation’; that is, to the combined effect of the growing size and dominance of the financial sector relative to the non-financial sector, and the diversification towards financial activities in non-financial corporations. The main conclusion is that we are paying the price (and a huge one) for two related phenomena; one belongs to the realm of ideology and knowledge, the other to ‘power play’.
manias, panics, financialisation, QE, excess liquidity, ‘disconnect’ between the financial and the real worlds, emerging markets, Latin America, Asia, Keynes, Kindleberger, Minsky, Buchanan
This record's DOI: https://doi.org/10.17863/CAM.81914
This record's URL: https://www.repository.cam.ac.uk/handle/1810/334496
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