WHAT IS FINANCIALIZATION?
- Finance is the management of money. “Financialization” refers to the increasing power of finance over the economy.
- The financial industry’s share of the overall economy has tripled since World War II. The financial sector — Wall Street — finds a way to extract profit from every facet of our lives, our housing, our health, our education, and even our water.
- Letting finance write the rules and dominate the economy harms the rest of us. Rather than channeling investments to projects that support jobs, families and communities, Wall Street executives and money managers are buying our elected leaders and rigging the rules in their favor in order to extract wealth from communities.
- Wealth extraction in a financialized economy is not color blind. Wall Street targets communities of color, and especially women of color, for everything from predatory loans to higher rents to mass incarceration.
- Financial executives often take a short-term “take the money and run” approach, which leads to booms and busts and makes our entire economy more unstable.
10 hours ago We wonder if something else might be going on... 👀 https://t.co/sXPtpqU2yH
10 hours ago RT @revolvingdoorDC: "A Republican who worked for the Office of Management and Budget in the Trump administration and as a policy adviser f…
1 day ago For instance, an FY22 budget will demand Louis DeJoy pilot postal banking properly, not the dumpster fire he's been… https://t.co/p5vO0r8csK
1 day ago RT @Public_Citizen: Nothing says tax the rich like America’s 10 richest billionaires adding $1,000,000,000 to their wealth every day since…
3 days ago If you’re wondering what this is all about, explainer via @TheVerge https://t.co/uIININyhsC Tl;dr: for postal leade… https://t.co/9ZMZYHrF81