The Historical Development of Finance

Paul H. Dembinski

Chapter 1.1 in Finance: Servant or Deceiver?, 2009, pp 13-32 from Palgrave Macmillan

Abstract: Abstract Financialization is taking place at a specific point in world history, and in this sense it is part of what Pierre Renouvin, without going into further detail, called ‘the profound forces of history’. Since the 1970s, changing political ideals and technological and institutional capabilities have created conditions conducive to the expansion of finance by the process in this report. Finance has managed to gain control of entire sections of society because of other, more profound developments which it has in turn reinforced. A distinction needs to be made here (as suggested by the late Fernand Braudel3) between the various ‘speeds’ of history: the slow history of structural change, the history of social processes and finally the fast history of a single human life.

Keywords: Exchange Rate; Monetary Policy; International Monetary Fund; Bretton Wood System; Monetary Regime (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59505-7_2

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DOI: 10.1057/9780230595057_2

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