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Date: 2024-05-21 Page is: DBtxt001.php txt00023830
FINANCIALIZATION
WRONG HEADED FOCUS OF PERFORMANCE

New Economic Thinking ... The Dangers of Financialization ... Rana Foroohar’s book Makers and Takers ...


Original article:
Peter Burgess COMMENTARY

Peter Burgess
The Dangers of Financialization New Economic Thinking Oct 11, 2016 235K subscribers ... 113,394 views ... 2.8K likes TIME magazine assistant managing editor Rana Foroohar’s book Makers and Takers sounds an important note of warning on the dangers of financialization of the U.S. economy. She reveals that the financial system no longer funds new ideas and projects — only about 15 percent of the money coming out of financial institutions goes into business investment; the rest is spent buying and selling existing financial instruments. That’s why $4 trillion worth of monetary stimulus that followed the 2008 financial meltdown has failed to produce anything more than anemic growth. In this video, she discusses her book, and its implications for the economic policy challenges facing America’s decision-makers, with Institute president Robert Johnson. Credits: Matthew Kulvicki, Nick Alpha



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