Keynesgil Finansal Düzenlemelerden Finansallaşmaya: İktisat Literatürü ve ABD Ekonomisinin Finansallaşmasına Tarihsel Bir Bakış

Başta ABD ekonomisi olmak üzere hem merkez hem de çevre ülke ekonomilerinde finansal piyasaların, ilişkilerin, kurumların ve işlemlerin boyutları ve önemi özellikle son yirmi-yirmibeş senede muazzam düzeyde arttı. Öyle ki, kapitalist sistemin şu an içinde bulunduğu aşamayı nitelemek için sıkça kullanılan küreselleşme ve neoliberalizm kavramlarına bir üçüncüsü olarak ‘finansallaşma’ eklendi. Bu makalede, Keynesgil birikim sürecinin çeşitli kural ve kısıtlamalarla düzenlenmiş finansal sisteminin yerini, giderek artan oranda düzenleme dışı bırakılan finansal ilişkilere bırakmasının neden ve sonuçları tartışılmaktadır. Finansallaşma olarak adlandırılan bu süreci kökenleri ve sonuçları itibariyle analitik olarak anlamak için tarihsel bir perspektif sunulmakta ve bu bağlamda ABD ekonomisindeki eğilimler nicel olarak incelenmektedir.

From Keynesian Financial Regulations to Financialization: A Historical View to Literature and the Financialization of the US Economy

In the last twenty-twenty five years, the size and significance of financial markets, relations, institutions and operations have enormously increased in all economies, especially in the US economy. Consequently, the current stage of capitalism is now defined by the concept of ‘financializaton,’ which found its place next to the commonly used concepts of globalization and neoliberalism. This article analyzes the causes and consequences of the transition from the regulated financial system of the Keynesian accumulation era to the financialization process of today in the context of the US economy. It presents a historical perspective on the evolution of financialization and its proximate causes and implications for the nonfinancial corporations, while analyzing the empirical trends in the US economy.

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