The Profits of Financialization
Bibliographic Data
| ID | 9202118 |
|---|---|
| Authors | Costas Lapavitsas (0000-0001-9330-7105), Ivan Mendieta-Muñoz, Ivan Mendieta‐Muñoz (0000-0003-0018-5642) |
| Year | 2016 |
| Volume | 68 |
| Issue | 3 |
| Pages | 49 |
| Publication date | 2016-07-04 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Monthly Review (JOURNAL) |
| Journal identifiers | ISSN: 0027-0520 • E-ISSN: 0027-0520 |
| Publisher | Monthly Review Foundation (PUBLISHER) |
| DOI | 10.14452/mr-068-03-2016-07_4 |
| OpenAlex | W2469323830 |
| Language | EN |
| Citations received | 14 |
The financialization of capitalism has been marked by the sustained rise of financial profits. In the United States, financial profits as a proportion of total profits rose enormously from the early 1980s to the early 2000s, collapsed during 2007–09, and subsequently recovered, but without reaching previous heights. During this period, the trend of the average rate of profit has been largely flat. The relative rise of financial profits in spite of stagnant average profitability represents a theoretical and empirical conundrum. We will argue that the answer should be sought partly in financial expropriation, but also in public interest rates kept at extraordinarily low levels. In this light, the rise of financial profits represents a vast public subsidy to the financial system characteristic of financialization.Click here to purchase a PDF version of this article at the Monthly Review website
Capitalism · Economics · Expropriation · Financialization · Market economy · Monetary economics · Neoclassical economics · Political science · Politics · Profit (economics) · Profit rate · Profitability index · Rate of profit · Subsidy · Finance · Housing, Finance, and Neoliberalism
Financialisation, regional economic development and the coronavirus crisis
The return of inflation and the weakness of the side of production
Oil and Financialization
Financial innovation for climate justice
Financialization and Fictitious Capital
The Greek Crisis Under Structural Constraints
Profitability trends in the era of financialization
The Impact of Financialization on the Rate of Profit
Filling the theoretical gap
Winners And Losers In Coronavirus Times
Work That Causes Harm
Financialisation, central banks and ‘new’ state capitalism
Making sense of the financialization of households
Money and moneyness
| Unique citing works | 14 |
|---|---|
| Citations per year | 2 |
| Citation span | 2019 - 2024 (6) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 14 |