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Financialization: The AIDS of economic system

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  • Juan Pablo Durán Ortiz

Abstract

Resumen: Epistemológicamente, el sistema económico puede ser entendido a través de dos enfoques: biología y física. En este trabajo, se utiliza el enfoque biológico para ilustrar la financialización, que es el proceso por el cual se reorientan todos los recursos económicos hacia el mercado especulativo. En este trabajo se compara el sistema económico con el cuerpo humano con el fin de estudiar la financiarización y sus efectos en el sistema económico. En particular, se explica cómo la financiarización se desarrolla en la economía de una manera similar a la forma como el SIDA se propaga dentro del cuerpo humano, tanto en la forma como crece dentro del sistema, como también por las consecuencias que genera dentro del mismo. Finalmente se proponen algunas acciones que pueden minimizar los riesgos de las crisis dentro de la economía partiendo de sus verdaderas causas.

Suggested Citation

  • Juan Pablo Durán Ortiz, 2014. "Financialization: The AIDS of economic system," Ensayos de Economía 12299, Universidad Nacional de Colombia Sede Medellín.
    • Handle: RePEc:col:000418:012299
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    File URL: http://www.revistas.unal.edu.co/index.php/ede/article/view/46419/47936
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    References listed on IDEAS

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    1. Ronald Dore, 2008. "Financialization of the global economy," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 17(6), pages 1097-1112, December.
    2. Thomas I. Palley, 2013. "Financialization: What It Is and Why It Matters," Palgrave Macmillan Books, in: Financialization, chapter 2, pages 17-40, Palgrave Macmillan.
    3. James Crotty, 2009. "Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 563-580, July.
    4. Nadrian C. Seeman, 2003. "DNA in a material world," Nature, Nature, vol. 421(6921), pages 427-431, January.
    5. Richard B. FREEMAN, 2010. "It's financialization!," International Labour Review, International Labour Organization, vol. 149(2), pages 163-183, June.
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    Cited by:

    1. Chong Li & Qiuge Yao & Jing Wu & Daoyuan Wang, 2019. "Financialization and Risk Taking of Non-Financial Corporations Empirical Evidence from Chinese Listed Companies," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 9(3), pages 1-5.

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    More about this item

    Keywords

    La financiarización; El SIDA; El sistema económico; Crisis; AIDS economic system;
    All these keywords.

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G1 - Financial Economics - - General Financial Markets
    • A2 - General Economics and Teaching - - Economic Education and Teaching of Economics

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