Neologism as Theoretical Innovation in Economics: The case of 'Financialisation'

Jan Toporowski ()
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Jan Toporowski: Department of Economics, SOAS University of London, UK

No 171, Working Papers from Department of Economics, SOAS University of London, UK

Abstract: The term 'financialisation' 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 financialisation are examined and shown to lack a coherent account of financial processes that goes beyond the evidence of financial activity.

Keywords: Financialisation; debt; credit (search for similar items in EconPapers)
JEL-codes: B26 E11 E12 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2012-03
New Economics Papers: this item is included in nep-hme and nep-pke
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Citations: View citations in EconPapers (2)

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