8 Conclusion
To sum up, today’s financialisation is not an exogenous accident in the development of contemporary economic systems as some post-Keynesian economists seem to suggest. Nor is it a mere shift in the power relations between financial interests and other economic interests which is changing the way capitalism works.
Financialisation, in our view, is the result of a natural propensity of the capitalist mode of production, which is founded on the circuit of capital. This circuit, in fact, always starts from money capital which is financial capital in its own right and by its very nature. Money capital has to pass through the production process, in the form of productive capital, due to the fact that its ...
Get Financialization and Macroeconomics now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
