IDEAS home Printed from https://ideas.repec.org/p/osf/socarx/hd6pc.html
   My bibliography  Save this paper

Marxist Explanations for Financialization: A Critical Review

Author

Listed:
  • Guven, Baris

    (University of Massachusetts Amherst)

Abstract

The paper provides a critical review of the main Marxist explanations for financialization of the US economy. It also contributes to the Marxist literature by emphasizing the link between neoliberalism and financialization, and flexible accumulation and financialization. Specifically, we argue that investment bankers played a leading role in initiating the constitution of neoliberalism in the face of the geographical reorientation of the industrial capital, and that the shareholder principle that came to dominate the corporate governance has led to the changes in the organizational and employment structure of big corporations contributing to the formation of flexible labor market structure.

Suggested Citation

  • Guven, Baris, 2017. "Marxist Explanations for Financialization: A Critical Review," SocArXiv hd6pc, Center for Open Science.
    • Handle: RePEc:osf:socarx:hd6pc
    DOI: 10.31219/osf.io/hd6pc
    as

    Download full text from publisher

    File URL: https://osf.io/download/58b47486594d9001fcdb7640/
    Download Restriction: no
    File URL: https://libkey.io/10.31219/osf.io/hd6pc?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Alain Lipietz, 1988. "Accumulation, Crises, and Ways Out," International Journal of Political Economy, Taylor & Francis Journals, vol. 18(2), pages 10-43, June.
    2. David M. Kotz, 2009. "The Financial and Economic Crisis of 2008: A Systemic Crisis of Neoliberal Capitalism," Review of Radical Political Economics, Union for Radical Political Economics, vol. 41(3), pages 305-317, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. David Neilson, 2021. "Beyond Regressive Nationalism and the Neoliberal Model of Development," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(1), pages 17-34, March.
    2. Fabien Tarrit, 2009. "The explosion of the current world crisis: an illustration of the instability of capitalism. A Marxist view," Working Papers hal-02020890, HAL.
    3. Gérard Duménil & Dominique Lévy, 2014. "The crisis of the early 21st Century: Marxian perspectives," Chapters, in: Riccardo Bellofiore & Giovanna Vertova (ed.), The Great Recession and the Contradictions of Contemporary Capitalism, chapter 2, pages 26-49, Edward Elgar Publishing.
    4. Elena Rodriguez-Alvarez & Luisa N. Borrell & Yolanda González-Rábago & Unai Martín & Nerea Lanborena, 2016. "Induced abortion in a Southern European region: examining inequalities between native and immigrant women," International Journal of Public Health, Springer;Swiss School of Public Health (SSPH+), vol. 61(7), pages 829-836, September.
    5. Deepankar Basu & Ying Chen & Jong-seok Oh, 2013. "Class struggle and economic fluctuations: VAR analysis of the post-war US economy," International Review of Applied Economics, Taylor & Francis Journals, vol. 27(5), pages 575-596, September.
    6. repec:sae:envval:v:25:y:2016:i:5:p:503-525 is not listed on IDEAS
    7. Ernest Aigner & Florentin Gloetzl & Matthias Aistleitner & Jakob Kapeller, 2018. "The focus of academic economics: before and after the crisis," ICAE Working Papers 75, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    8. Tomás Gutiérrez-Barbarrusa, 2019. "The interpretation of the cyclical history of capitalism. A comparison between the neo-Schumpeterian and social structure of accumulation (SSA) approaches in light of the long wave theory," Journal of Evolutionary Economics, Springer, vol. 29(4), pages 1285-1314, September.
    9. Long, Michael A. & Lynch, Michael J. & Stretesky, Paul B., 2018. "The Great Recession, the Treadmill of Production and Ecological Disorganization: Did the Recession Decrease Toxic Releases Across US States, 2005–2014?," Ecological Economics, Elsevier, vol. 146(C), pages 184-192.
    10. Hein, Eckhard, 2018. "Inequality and growth: Marxian and post-Keynesian/Kaleckian perspectives on distribution and growth regimes before and after the Great Recession," IPE Working Papers 96/2018, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    11. Klitgaard, Kent A. & Krall, Lisi, 2012. "Ecological economics, degrowth, and institutional change," Ecological Economics, Elsevier, vol. 84(C), pages 247-253.
    12. Adem Y. Elveren & Sara Hsu, 2016. "Military Expenditures and Profit Rates: Evidence from OECD Countries," Metroeconomica, Wiley Blackwell, vol. 67(3), pages 551-577, July.
    13. Jorge Garcia-Arias & Eduardo Fernandez-Huerga & Ana Salvador, 2013. "European Periphery Crises, International Financial Markets, and Democracy," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(4), pages 826-850, October.
    14. David M. Kotz, 2013. "Social structures of accumulation, the rate of profit and economic crises," Chapters, in: Jeannette Wicks-Lim & Robert Pollin (ed.), Capitalism on Trial, chapter 23, Edward Elgar Publishing.
    15. Pérez López, Gemma & Plata Díaz, Ana María & Zafra Gómez, José L. & López Hernández, Antonio M., 2013. "Deuda viva municipal en un contexto de crisis económica: análisis de los factores determinantes y de las formas de gestión," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 16(2), pages 83-93.
    16. Stephan Puehringer, 2016. "Still the queen of the social sciences? (Post-)Crisis power balances of 'public economists' in Germany," ICAE Working Papers 52, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    17. Dao Thi-Thieu Ha & Nga Thi Hoang, 2020. "Exchange Rate Regime and Economic Growth in Asia: Convergence or Divergence," JRFM, MDPI, vol. 13(1), pages 1-15, January.
    18. Fiona Haines, 2013. "Three Risks, One Solution? Exploring the Relationship between Risk and Regulation," The ANNALS of the American Academy of Political and Social Science, , vol. 649(1), pages 35-51, September.
    19. Dünhaupt, Petra, 2016. "Financialization and the crises of capitalism," IPE Working Papers 67/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    20. Thomas Goda, 2017. "A comparative review of the role of income inequality in economic crisis theories and its contribution to the financial crisis of 2007-2009," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 9(1), pages 151-174, February.
    21. Thomas Goda, 2013. "The role of income inequality in crisis theories and in the subprime crisis," Working Papers PKWP1305, Post Keynesian Economics Society (PKES).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osf:socarx:hd6pc. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSF (email available below). General contact details of provider: https://arabixiv.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.