Financialization and Macroeconomics

1 Post-Keynesian approaches

DOI: 10.4324/9781003223221-2

The rise of finance in neoliberal era

Post-Keynesian literature is the theoretical research field where the economic concept of financialisation has found its major applications. As was aptly pointed out by Sawyer (2014), the origins of this concept are uncertain, although it has been increasingly utilised since the early 1990s. However, the scholars who have contributed most to developing it actually follow a post-Keynesian approach, which is usually characterised by the attempt to extend the scope of Keynes’ analysis to the long run and is, consequently, interested above all in growth problems. This implies that their analysis of financialisation is closely linked to macroeconomic ...