GGRA02H3 Lecture Notes - Lecture 6: Financialization, Investment, Investment Banking
Document Summary
The rise of finance brokers, tax services, the mortgage industry. In the us is related to financial services. Increasingly firms are highly leveraged and invest very little in actual capital formation. Growing importance of institutions such as stock-markets, central banks that are outside of democratic control. Relationship of dependency between us and china, japan, asia. Financialization of the global economy and crisis displacement and management. Spreads very quickly due to financial integration of consumer markets. The economy becomes increasingly defined by acute booms and busts driven by intense speculative investments and financial crises: The credit crunch and emphasis on fiscal austerity. Increased role of finance in overall economic activity and the increased proportion of profits that are realized via financial channels. Increasing importance of financial motives, markets, actors and institutions. A type of capitalist accumulation in which profits are realized through.
