Financialization as a theory of crisis in a historical perspective. Cuadernos de economía

Abstract:

This document carries out a conceptualization of the so-called 'financialization approaches' for the crisis phenomena as a) a necessary moment of the accumulation process, or b) just a mere possibility, brought about by an exogenous rupture of the tendency towards the equilibrium of the free operation of the market, or alternatively, from an inappropriate economic policy. The financialization thesis will be inserted in a group of explanations regarding the crisis that share the idea that, under certain conditions, capitalism can avoid crisis. Thus, it will be argued that the approaches of financialization support a theory of possibility of the crisis.

Año de publicación:

2015

Keywords:

• Financialization
• Accumulation
• Economic theory
• CRISIS

Fuente:

scopus