Financialization, Inequality and Crisis

Paper presented at ICOPEC in Istanbul-Turkey, June 2016

23 Pages Posted: 10 Aug 2016

See all articles by Mehmet Sisman

Mehmet Sisman

Marmara University - Faculty of Economics/Department of Economics

Date Written: August 6, 2016

Abstract

Financialization period is the most important crossroads of the neoliberal globalization policies. Neoliberal economic policies are created after the 1980 worldwide financial capital in the reorganization of the globalized world with the expansion of the leading and dominant opinion. After 2007-2008 global crisis began in the debate was re-opened old books as a natural. Because the world is now a different place. Historically, the analysis we do, we briefly as opposed to a dynamic. After the classic imperialism of the 19th century the location of the expansion in 1870 with the taking of horny finance capital expansion, before the 1st and 2nd World War battle of inter-imperialist sharing came up. Chronologically, according to I. Wallerstein, after 1945 it gave the world the three development direction Have hegemony in the world system, the first in the United States, the second political unrest and geopolitical centers become the third world countries and, finally, are creating a flourishing economic structure and screwing previous knowledge structure of the university system under the influence of the democratic forces questioning the science. We will examine here the observed natural relationship inequality third over the first two developments brought financialization mania. Of its share of the developing countries from the global crisis will propose the move, we will move our study arguing that it increases inequality in two ways. First, Inequality organized by the United Nations Inequality Adjusted HDI data are available starting at. Second, unit labor costs (the wages are considered to represent) the difference between the labor productivity. OECD and the UN 's latest report reveals that both data feed crisis.

Keywords: Financialization, Inequality, Crisis, HDI, IAHDI

JEL Classification: B50, D30, D60, F30, F65, I00, J00, N10, N20, N30, N60

Suggested Citation

Sisman, Mehmet, Financialization, Inequality and Crisis (August 6, 2016). Paper presented at ICOPEC in Istanbul-Turkey, June 2016 . Available at SSRN: https://ssrn.com/abstract=2819471

Mehmet Sisman (Contact Author)

Marmara University - Faculty of Economics/Department of Economics ( email )

Marmara Üniversitesi İktisat Fakültesi Göztepe Kam
Istanbul, Kadıköy 34722
Turkey
+905334574280 (Phone)

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