Marxist Explanations for Financialization: A Critical Review

Baris Guven

No hd6pc, SocArXiv from Center for Open Science

Abstract: The paper provides a critical review of the main Marxist explanations for financialization of the US economy. It also contributes to the Marxist literature by emphasizing the link between neoliberalism and financialization, and flexible accumulation and financialization. Specifically, we argue that investment bankers played a leading role in initiating the constitution of neoliberalism in the face of the geographical reorientation of the industrial capital, and that the shareholder principle that came to dominate the corporate governance has led to the changes in the organizational and employment structure of big corporations contributing to the formation of flexible labor market structure.

Date: 2017-02-27
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:hd6pc

DOI: 10.31219/osf.io/hd6pc

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