金融化
经济
收入分配
房地产
债务
金融危机
消费(社会学)
分布(数学)
货币经济学
家庭债务
投资(军事)
市场经济
出处
期刊:Investigacion Economica
[Universidad Nacional Autonoma de Mexico]
日期:2013-04-18
卷期号:71 (279)
被引量:3
标识
DOI:10.22201/fe.01851667p.2012.279.37326
摘要
The paper argues that the process of financialization has profoundly changed how capitalist economies operate. The financial sector has grown relative to the real economy and become more fragile. Non-financial businesses have adopted shareholder value orientation, which had negative effects on investment. Working class households became squeezed because of rising inequality and have become more indebted, in particular in countries with real estate bubbles. Financial globalization has given rise to growing international imbalances, which have allowed two growth models to emerge: a debt-led consumption growth model and an export-led growth model. Both should be understood as reactions to the lack of effective demand due to the polarization of income distribution. The resulting finance-dominated accumulation regime is characterized by slow and fragile growth. The crisis is best understood as the outcome of the interaction of financialization and changes in income distribution.
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