Financialisation and the Real Economy: A European Assessment

Emil Weis Brix

Studenteropgave: Semesterprojekt

Abstrakt

As I have yet in my time here at this university to experience any comments or discussion of me and my former group member’s abstracts, I will write this one with that perception in mind. That is I assume that if anyone is ever going to read this, it will be students that have committed the egregious mistake of wanting to understand the financial sector out of, almost, pure indignation. Jokes aside, apologies to my supervisor and censor, if they happen to read this anyway. Hopefully they’ll still manage to get something out of it, at least the joy of considering to downgrade me for my mischievous behaviour.

I have written a project on the topic of financialisation, a heterodox economic and social scientific conception of what effects a liberalisation of the financial sector can have in the advanced capitalist countries of the world, also comprising a small group of scholars that are concerned with developing countries (in case you are from GS or IDS). Before embarking upon a study of this “master concept”, be aware that a majority of the scholars are sophisticated realist macroeconomists who are not afraid of complicated regressions and econometrics. I did not utilise this in the analysis, but a lot of your readings will contain this sort of analysis. If you are part of the 5% of RUC students who see this as a challenge and not a nightmare, go ahead and challenge yourself. The literature is dominated by the economic schools of marxism and post-keynesianism (actual keynesians), which if you too were befuddled by the neoclassical economics and subsequently disillusioned by the political science professors that act like institutional mouthpieces for them this will be a warm welcome.
You’ll be likely to have a supervisor too which is aware of the diversity within economic thought and which can assist in thinking critically within them. Even better. If you have a standard political science supervisor, this is probably not your optimal project topic.

In my analysis I tried, with emphasis on tried as opposed to managed, to analyse the impact of our wild west financial sector on our not so wild real sector. “Our” being the populations of Europe, so sorry if you do not feel connected to Europe. Specifically I tried to examine its connection to slumping real investment and the wage share. There might be a connection but it is hard to isolate.
If you want to do an interesting study on the topic I’d suggest that you examine labour unions or firms specifically, in order to get some more concrete but less generalisable answers. Aggregate studies are often vague in their conclusions. Also do not join a group with members so unproductive that you decide to commit mutiny on them only to discover that this is not the kind of topic you want to be alone with, especially if you have a lot going on at the same time. Just saying. I know “real life stuff” is not very academic, paradoxically, but this topic given your probable background takes time to understand. I’m still quite uncertain of how well I understand any of this, but an interesting topic it sure was.

UddannelserInternational Public Administration and Politics, (Bachelor/kandidatuddannelse) Kandidat
SprogEngelsk
Udgivelsesdato31 maj 2018
Antal sider29
VejledereJesper Jespersen

Emneord

  • Financialisation
  • Financialization