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Podcast: New Books in Economic and Business History
Episode: Jack Copley, "Governing Financialization: The Tangled Politics of Financial Liberalization in Britain" (Oxford UP, 2022)
Description: One of the most distinctive aspects of global capitalism in the last half century or so has been the increased role of the financial sector in the global economy, especially in the advanced industrial economies of the Global North. The profitability and market capitalization of firms in the financial sector have increased immensely, firms that originated in the real economy have diversified into financial activities, cross-border financial flows have limited the policy autonomy of national governments, and the value of financial assets has driven increasing global inequality. How did the financial sector come to occupy such an important position...