Financialization: What It Is and Why It Matters

2013-01-01chapterPalgrave Macmillan UK eBooks299 citationsclosed

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Housing, Finance, and Neoliberalism Political Economy and Marxism Economic Theory and Policy

Abstract

This chapter explores the core construct of financialization. The chapter focuses on the US economy, which is where financialization seems to be most developed. However, judging by the increase in rentier income shares, financialization appearsto have infected all industrialized economies (Power et al., 2003; Jayadev and Epstein, 2007).

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