SOCIOL 103 Chapter Notes - Chapter n/a: Systemic Risk, Neoliberalism, Financialization
16 Nov 2017
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Document Summary
Financialization: both the rising political and economic power of financial service firms and the growing importance of financial, rather than production, strategies in the rest of the economy. In the us, financialization of neoliberalism has: Increased income inequality between sectors of the economy. Capital and labor among classes of workers. Despite the allure of wealth and power, financial principles and elites are political and economic policy dangerous to follow. Neoliberalism: a global phenomenon in which public and private policies are increasingly premised on the superior efficiency of market solutions to problems of investment, production, and distribution. A capital-labor accord and the state of a globally competitive economy and opec prices. Smaller state design of national regulatory institutions. Neoliberalism as a set of ideas is only powerful if the ideas become embedded in the. Limited economic power of financial service firms. Required different firms for different financial service activities. Imposed tight regulation on financial service firms.
