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The Financialization of Modern Economies in Monetary Circuit Theory

In: The Political Economy of Monetary Circuits

Author

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  • Marc Pilkington

Abstract

It is an accepted fact at the time of writing that financial phenomena have the ability to wreak havoc on the economy. As Fahrer (2007, p. 21) notes: the financial economy is growing to a level where it is starting to influence more profoundly the fundamentals of the real economy […]. Regulators are focusing much more on asset bubble risks or a potential hedge fund crisis with risks crystallising in the financial economy because of the wash-over effects on the real economy.

Suggested Citation

  • Marc Pilkington, 2009. "The Financialization of Modern Economies in Monetary Circuit Theory," Palgrave Macmillan Books, in: Jean-François Ponsot & Sergio Rossi (ed.), The Political Economy of Monetary Circuits, chapter 10, pages 188-216, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24572-3_10
    DOI: 10.1057/9780230245723_10
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    Cited by:

    1. Marco Passarella, 2012. "Systemic financial fragility and the monetary circuit: a stock-flow consistent Minskian approach," Working Papers (-2012) 1202, University of Bergamo, Department of Economics.
    2. Passarella, Marco, 2011. "The two-price model revisited. A Minskian-Kaleckian reading of the process of 'financialization'," MPRA Paper 32033, University Library of Munich, Germany.

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