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The rise of financialization has led to lower living standards and reduced growth in the U.S.

Tomaskovic-Devey, Donald (2015) The rise of financialization has led to lower living standards and reduced growth in the U.S. USApp– American Politics and Policy Blog (12 Jun 2015). Website.

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Abstract

The last 30 years has seen a massive rise in the importance of financial instruments in the American economy. But what has been the impact of this shift in corporate investment strategy? In new research, Donald Tomaskovic-Devey writes that the concentration of wealth and power in the financial service industry has led to lower living standards and weaker state investment in citizens and infrastructure. He argues that tax and fiscal policies should promote investment in production and employment over financial strategies by non-finance firms.

Item Type: Online resource (Website)
Official URL: http://blogs.lse.ac.uk/usappblog/
Additional Information: © 2015 The Author, USApp – American Politics and Policy Blog, The London School of Economics and Political Science.
Divisions: LSE
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HG Finance
Date Deposited: 13 Jul 2015 09:42
Last Modified: 03 Nov 2021 00:20
URI: http://eprints.lse.ac.uk/id/eprint/62694

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