Consequences of financialization for workers
"Financialization" is an essential analytical category for understanding the dynamics of contemporary capitalism and for understanding the ongoing transformations in the world of work. This article focuses on financialization interpretations at two levels of analysis: the transition to a f...
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| Format: | Online |
| Language: | Spanish |
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Universidade Estadual de Campinas
2020
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| Online Access: | https://econtents.sbu.unicamp.br/inpec/index.php/rbest/article/view/13501 |
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| Summary: | "Financialization" is an essential analytical category for understanding the dynamics of contemporary capitalism and for understanding the ongoing transformations in the world of work. This article focuses on financialization interpretations at two levels of analysis: the transition to a financial oriented accumulation regime, which can result in low economic growth and greater systemic instability (macro-structural level); and the predominance of the logic of maximizing the shareholder value of the non-financial corporation, which implies constant pressure to reduce costs and increase productivity (micro-institutional level). The combination of these levels of analysis provides an overview of the links between the advancement of financialization and its impact on employment relationships and the labor process in large companies (direct impacts) and on the wider labor market and income distribution (indirect impacts). The discussion focuses on the international economic literature but aims to stimulate debate on the consequences of financialization for workers in Latin American countries. |
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| ISSN: | 2674-9564 |
