Abstract
The aim of this text is to analyze contemporary interpretations of financialization in order to create a particular approach to the subject, continuing on from the previous text, Carneiro (2019), in which the conceptions of classical authors were discussed. The discussion on contemporary literature will adopt as a paradigm the theoretical principles proposed by Marx, Keynes and Minsky, associated with the concepts of fictitious accumulation, speculation and financial instability. Through this perspective, it is intended to not only establish continuity between the previous and the present essay, but also to examine the literature in light of an established theoretical point of view, in order to build analytical principles to understand contemporary financialization. The approach will consider the more general elements characteristic of this stage, such as fictitious or speculative accumulation, as they manifest at the level of economic agents – financial intermediaries, companies and families – and how these agents reinforce the general characteristics of this phase of capitalist development.
References
AGLIETTA, M. Shareholder value and corporate governance: some tricky questions. Economy and Society, v. 29, n. 1, p. 146-159, 2000.
AGLIETTA, M.; REBÉRIOUX, A. Corporate governance adrift: a critique of shareholder value. Edward Elgar Publishing, 2005.
AGLIETTA, M.; VALLA, N. Macroéconomie financière. 2017. (Collection: Grands Repères Manuels).
BLOCK, F. Swimming against the current: the rise of a hidden developmental state in the United States. Politics & Society, v. 36, n. 2, p. 169-206, 2008.
BORIO, C. The financial cycle and macroeconomics: what have we learnt? Journal of Banking & Finance, v. 45, p. 182-198, 2014.
BOYER, R. Is a finance-led growth regime a viable alternative to Fordism? A preliminary analysis. Economy and Society, v. 29, n. 1, p. 111-145, 2000. BUITER, W. H. Lessons from the 2007 financial crisis. 2007.
CARNEIRO, R. Acumulação fictícia, especulação e instabilidade financeira. Parte I: uma reflexão sobre a financeirização a partir de Marx, Keynes e Minsky. Economia e Sociedade, v. 28, n. 2, p. 293-312, 2019.
CHESNAIS, F. A finança mundializada: raízes sociais e políticas, consequências. São Paulo: Boitempo, 2005. p. 17-33.
COFFEE JR, J. C.; PALIA, D. The wolf at the door: the impact of hedge fund activism on corporate governance. Annals of Corporate Governance, v. 1, n. 1, p. 1-94, 2016.
DAVIS, G. F. Managed by the markets: how finance re-shaped America. Oxford University Press, 2009.
ERTURK, I.; FROUD, J.; JOHAL, S.; LEAVER, A.; WILLIAMS, K. The democratization of finance? Promises, outcomes and conditions. Review of International Political Economy, 14, p. 553-575, 2007.
FARNETTI, R. O papel dos fundos de pensão e de investimentos coletivos anglo-saxônicos no desenvolvimento das finanças globalizadas. A mundialização financeira: gênese, custos e riscos. São Paulo: Xamã, 1998. p. 183-210.
GALSTON, William A.; KAMARCK, Elaine C. More builders and fewer traders: a growth strategy for the American economy. Center for Effective Public Management at Brookings, 2015.
HALDANE, A. G.; DAVIES, R. The short long. In: SOCIÉTÉ UNIVERSITAIRE EUROPÉENE DE RECHERCHES FINANCIÈRES COLLOQUIUM, 29, Brussels, 11 may 2011.
HARDIE, I.; HOWARTH, D. (Ed.). Market-based banking and the international financial crisis. Oxford University Press, 2013.
KALLEBERG, A. L. Good jobs, bad jobs: the rise of polarized and precarious employment systems in the United States, 1970s-2000s. Russell Sage Foundation, 2011.
KLIMAN, A.; WILLIAMS, S. D. Why ‘financialisation’ hasn’t depressed US productive investment. Cambridge Journal of Economics, v. 39, n. 1, p. 67-92, 2014.
LAPAVITSAS, C. Theorizing financialization. Work, Employment and Society, v. 25, n. 4, p. 611-626, 2011.
LAZONICK, W. The financialization of the US corporation: what has been lost, and how it can be regained. Seattle Ul Rev., 36, p. 857, 2012.
MAZZUCATO, M. The entrepreneurial state: debunking public vs. private sector myths. Anthem Press, 2015. v. 1.
NOLAN, P. Industrial policy in the early 21st century: the challenge of the global business revolution. Rethinking Development Economics, 1, p. 299, 2003.
NOLAN, P.; ZHANG, J.; LIU, C. The global business revolution, the cascade effect, and the challenge for firms from developing countries. Cambridge Journal of Economics, v. 32, n. 1, p. 29-47, 2007.
PALLUDETO, A. W. A.; FELIPINI, A. R. Panorama da literatura sobre a financeirização (1992-2017): uma abordagem bibliométrica. Economia e Sociedade, v. 28, n. 2, 2019.
PIKETTY, T. Capital in the 21st century. In inequality in the 21st century. Routledge, 2018. p. 43-48.
PLIHON, D. 5. Les grandes entreprises fragilisées par la finance. In: LA FINANCE mondialisée. La Découverte, 2004. p. 125-145.
SAUVIAT, C. Os fundos de pensão e os fundos mútuos: principais atores da finança mundializada e do poder acionário. A finança mundializada. São Paulo: Boitempo, 2004.
SEFARTI, C. Financial dimensions of transnational corporations, global value chain and technological innovation. Journal of Innovation Economics. v. 2, n. 2, 2008.
STOCKHAMMER, E. Financialisation and the slowdown of accumulation. Cambridge Journal of Economics, 28, p. 719-741, 2004.
TURNER, A. What do banks do? Why do credit booms and busts occur and what can public policy do about it. In: TURNER. A. et al. The Future of finance, 5, 2010.
VAN DER ZWAN, N. Making sense of financialization. Socio-Economic Review, v. 12, n. 1, p. 99-129, 2014.
VAN TREECK, T. The political economy debate on ‘financialization’ – a macroeconomic perspective’. Review of International Political Economy, 16, p. 907-944, 2009.
![Creative Commons License](http://i.creativecommons.org/l/by/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Copyright (c) 2020 Economia e Sociedade