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Critical observations on financialization and the financial process

Michell, Jo; Toporowski, Jan

Authors

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Jo Michell Jo.Michell@uwe.ac.uk
Professor of Economics

Jan Toporowski



Abstract

© 2013, Copyright Taylor & Francis Group, LLC. The term "financialization" is a recognition that finance has come to play a key role on the modern capitalist economy. But users of the term do not agree on its meaning and recognition of the growing scale of finance has not brought about an increased understanding of financial processes. The paper examines the reasons for increased turnover in financial markets. The main themes in the literature on financialization are examined and shown to lack a coherent account of financial processes that goes beyond the evidence of financial activity.

Citation

Michell, J., & Toporowski, J. (2014). Critical observations on financialization and the financial process. International Journal of Political Economy, 42(4), 67-82. https://doi.org/10.2753/IJP0891-1916420404

Journal Article Type Article
Acceptance Date Dec 10, 2014
Online Publication Date Dec 10, 2014
Publication Date Dec 10, 2014
Journal International Journal of Political Economy
Print ISSN 0891-1916
Electronic ISSN 1558-0970
Publisher Taylor & Francis (Routledge)
Peer Reviewed Peer Reviewed
Volume 42
Issue 4
Pages 67-82
DOI https://doi.org/10.2753/IJP0891-1916420404
Keywords credit, debt, financialization
Public URL https://uwe-repository.worktribe.com/output/815356
Publisher URL http://dx.doi.org/10.2753/IJP0891-1916420404