Chapter 36: Financialisation
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The chapter begins by examining various definitions of financialisation and proceed to illustrate the growth of the power of finance through the amount of investment capital under its control, the extent to which it is appropriating a greater amount of global income, the growth in the financial sector and its disproportionate ownership of financial assets. The remainder of the paper is divided into two sections: the first will examine changes in attitudes toward finance, beginning with the myths and narratives finance constructs to justify its operations and power and the second will examine how finance has managed to capture an increasing amount of global wealth in spite of a continuing decline in the rate of global economic growth and why the power of finance will likely continue to grow. The paper will conclude with a summary of the long-term prospects of finance and an illustration of its dominant ethos.

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