The political and social effects of financialisation

Financialisation has adverse political and social effects with respect to the social divide, brain drain, provision of public services, food, agriculture, housing, ethics, morality, greed, corruption, fraud and democracy. The term “financialism” is associated it with imperialism as the twin notions of imperialism and financialism emerged at the turn of the twentieth century. Imperialism can be viewed as the monopoly stage of capitalism, at which the financial capital of a few very big monopolist banks merges with the capital of the industrialists. It is in this sense that imperialism is the last and highest stage of capitalism.