Critical Observations on Financialization and the Financial Process

Michell, Jo; Toporowski, Jan

Abstract

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
• Publication Date: Jan 1, 2014
• Deposit Date: Sep 13, 2015
• Journal: International Journal of Political Economy
• Print ISSN: 0891-1916
• Publisher: Taylor and Francis Group
• Peer Reviewed: Peer Reviewed
• Volume: 42
• Issue: 4
• Pages: 67-82
• DOI: https://doi.org/10.2753/IJP0891-1916420404