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This comment reminds me of a concept I've just heard of: financialization. When assets in the real economy are owned by securities markets and directed by prof
by engineer_22 4y ago
This comment reminds me of a concept I've just heard of: financialization. When assets in the real economy are owned by securities markets and directed by professional managers.
https://equitablegrowth.org/the-rising-financialization-of-the-u-s-economy-harms-workers-and-their-families-threatening-a-strong-recovery/ https://equitablegrowth.org/the-rising-financialization-of-t...
- NoGravitas 4y agoFinancialization is, in turn, just a product of the tendency of the rate of profit to fall (in industry). The flight to less-and-less real assets is driven by the effort to avoid having to face up to that fact of economics. This should also get you thinking about the function of cryptocurrencies, NFTs, and the metaverse.