financialization - The New School SCEPA
Financialized retirement systems, like defined contribution (DC) plans in the U.S., shift market risk away from employers and governments to individuals.
This paper explores the interdependence of the processes of the globalization of production and financialization, to link the issue of corporate governance to supply-chain governance.
Despite corporate sector contributions to national savings, the off-shoring-financialization linkage reduces capacity of non-financial corporations to drive recovery from economic crisis.
The causes of the present crisis are largely to be found in the unregulated development of new financial products and in the over-expansion of the financial sector.
Authors claim there is a justifiable concern about the long-term nature of the economic stagnation experienced today.