Saturday, August 25, 2007

A light on financialization

Girish Mishra: "It is really strange that, while there is a heated discussion on liberalization, neo-liberalism, privatization, etc., the most important dimension of globalization – financialization -- is almost completely ignored. Why this is done is a mystery. The recent global crisis given rise by sub-prime mortgages in America has underlined that, without looking into the history of the rise and proliferation of financialization, it is difficult to understand the crisis and its implications."