Financialization and its Discontents

Financialization is not new, nor is discontent with it. “Capitalism is essentially a financial system, and the peculiar behavioral attributes of a capitalist economy center around the impact of finance upon system behavior.”  Minsky (1967) Fifty years ago, Minsky zeroed in on instability as the central flaw of the financial system of his time, and located the source of that

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