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2017 | OriginalPaper | Buchkapitel

4. The Evolution of Financialisation

verfasst von : Alessandro Vercelli

Erschienen in: Crisis and Sustainability

Verlag: Palgrave Macmillan UK

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Abstract

First, this chapter discusses to what extent financialisation is a recurring phenomenon. The historical evidence shows that episodes of rapid financialisation have analogies and differences and that they alternate with periods of slower, sometimes receding, financialisation. This begs the question whether the fluctuations of financialisation occurred around a trend or not. This chapter argues that we may identify a secular tendency of increasing financialisation. The progressive steps of financialisation have a common root in flexibility-enhancing innovations. These innovations aim to increase the agents’ flexibility of choice as this improves their expected returns. The final part of the chapter investigates the pros and cons of the process of financialisation from the point of view of sustainability.

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Vorheriges Kapitel The Globalisation of Markets

Nächstes Kapitel The Neoliberal Trajectory and the Crisis

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Titel: The Evolution of Financialisation
verfasst von: Alessandro Vercelli
Verlag: Palgrave Macmillan UK
Buch: Crisis and Sustainability
Print ISBN: 978-1-137-60068-4

Electronic ISBN: 978-1-137-60069-1

Copyright-Jahr: 2017
DOI: https://doi.org/10.1057/978-1-137-60069-1_4