A Primer on Finance-Led Capitalism and Its Crisis
This contribution to the debate on finance-led capitalism seeks to identify the principal structural changes in the nature of finance over the last couple of decades. After analyzing the dynamic of financial innovation, emphasis is put on the process of securitization as the engine of a new form of...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
2008-11-01
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/5843 |
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| _version_ | 1832577957122539520 |
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| author | Robert Guttmann |
| author_facet | Robert Guttmann |
| author_sort | Robert Guttmann |
| collection | DOAJ |
| description | This contribution to the debate on finance-led capitalism seeks to identify the principal structural changes in the nature of finance over the last couple of decades. After analyzing the dynamic of financial innovation, emphasis is put on the process of securitization as the engine of a new form of financial capital, fictitious capital, which encourages asset bubbles. The burst of the latest bubble, centered on the U.S. housing market, has triggered the most serious financial crisis in decades and a serious global downturn. The article ends with a discussion of likely implications of this systemic crisis. |
| format | Article |
| id | doaj-art-522201e7942e4857a315a7af6977d851 |
| institution | Kabale University |
| issn | 1957-7796 |
| language | English |
| publishDate | 2008-11-01 |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj-art-522201e7942e4857a315a7af6977d8512025-01-30T14:25:53ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962008-11-01310.4000/regulation.5843A Primer on Finance-Led Capitalism and Its CrisisRobert GuttmannThis contribution to the debate on finance-led capitalism seeks to identify the principal structural changes in the nature of finance over the last couple of decades. After analyzing the dynamic of financial innovation, emphasis is put on the process of securitization as the engine of a new form of financial capital, fictitious capital, which encourages asset bubbles. The burst of the latest bubble, centered on the U.S. housing market, has triggered the most serious financial crisis in decades and a serious global downturn. The article ends with a discussion of likely implications of this systemic crisis.https://journals.openedition.org/regulation/5843finance-led capitalismfinancial groupsfinancial innovationsecuritizationfictitious capitalasset bubbles |
| spellingShingle | Robert Guttmann A Primer on Finance-Led Capitalism and Its Crisis Revue de la Régulation finance-led capitalism financial groups financial innovation securitization fictitious capital asset bubbles |
| title | A Primer on Finance-Led Capitalism and Its Crisis |
| title_full | A Primer on Finance-Led Capitalism and Its Crisis |
| title_fullStr | A Primer on Finance-Led Capitalism and Its Crisis |
| title_full_unstemmed | A Primer on Finance-Led Capitalism and Its Crisis |
| title_short | A Primer on Finance-Led Capitalism and Its Crisis |
| title_sort | primer on finance led capitalism and its crisis |
| topic | finance-led capitalism financial groups financial innovation securitization fictitious capital asset bubbles |
| url | https://journals.openedition.org/regulation/5843 |
| work_keys_str_mv | AT robertguttmann aprimeronfinanceledcapitalismanditscrisis AT robertguttmann primeronfinanceledcapitalismanditscrisis |