The Financialization of Capital and the Crisis

Bibliographic Data

ID9202567
AuthorsJohn Bellamy Foster (0000-0001-7418-3004, corresponding author)
Year2008
Volume59
Issue11
Pages1
Publication date2008-04-01
Open AccessNo
TypeARTICLE
VenueMonthly Review (JOURNAL)
Journal identifiersISSN: 0027-0520 • E-ISSN: 0027-0520
PublisherMonthly Review Foundation (PUBLISHER)
DOI10.14452/mr-059-11-2008-04_1
OpenAlexW2050649951
LanguageEN
Citations received19

With the benefit of hindsight, few now doubt that the housing bubble that induced most of the recent growth of the U.S. economy was bound to burst or that a general financial crisis and a global economic slowdown were to be the unavoidable results. Warning signs were evident for years to all of those not taken in by the new financial alchemy of high-risk debt management, and not blinded, as was much of the corporate world, by huge speculative profits. This can be seen in a series of articles that appeared in this space: "The Household Debt Bubble" (May 2006), "The Explosion of Debt and Speculation" (November 2006), "Monopoly-Finance Capital" (December 2006), and "The Financializ-ation of Capitalism" (April 2007). In the last of these we wrote...This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website

Capital (architecture) · Capitalism · Debt · Economic bubble · Economic history · Economics · Financial crisis · Financialization · Hindsight bias · Keynesian economics · Market economy · Monetary economics · Political science · Politics · Speculation · Banking stability, regulation, efficiency · Economic Theory and Policy · Finance · History · Housing, Finance, and Neoliberalism

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