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the process whereby the financial industry becomes more prominent


Neo-Keynesian success brought its own downfall in over-accumulation, over-production, and sundry other dislocations: OPEC price hikes in oil, stagflation, the beginnings of financialization, the transfer of production to low-wage areas, the end of social compromise and the appearance of the disastrous, neoliberal solution of market fundamentalism that would reach its peak in the 1980s and 90s.

—p.130 Kaleidoscopics of Power (127) by Anders Stephanson
notable
9 years, 2 months ago