What is it about?

The Great Recession of 2007-9 was a wake-up call. Key world political leaders stood with ashen white, scared faces visible on TV cameras in October 2008, as the financial crisis threatened not only their political tenure but indeed the very system that enabled their rise to power. It became abundantly clear that the puppet strings of political-economic, even cultural, power are in the hands of Finanzkapital. This article explains how these puppet strings are pulled and manipulated.

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Why is it important?

It is deeply distressing to note that policymakers and researchers, particularly mainline economists, have feigned a deliberate amnesia to forget the manipulative role that reckless, unstoppable financialization plays in controlling our lives, in every which way. It is articles like this one, and a few other insightful articles and books from critical researchers and investigative reporters that peek behind the smoke-and-mirror curtain of the Finanzkapital Wizard of Oz.


It is astonishing that several years after the Finanzkapital-induced 2007-2009 Great Recession, there has been practically no fundamental questioning either of the politico-economic system or of the theoretical perversions that cause such crises. Sure, there are selected films and writings that are critical, but the vast enterprises -- of media and academia -- have really focused on sweeping the issues of Finanzkapital under the rug. A notable exception is the 2015-16 Bernie Sanders presidential campaign, which does point a strong accusatory finger at the Finanzkapital behemoth.

Dr Nikhilesh Dholakia
University of Rhode Island

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This page is a summary of: Finanzkapital in the twenty‐first century, Critical Perspectives on International Business, February 2011, Emerald, DOI: 10.1108/17422041111103859.
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