What is the matter with finance? A historical analysis of the change in US banking practices since 1970
This paper follows changes in US banking practices since financial growth de-coupled from the real economy in 1970s, a phenomenon referred to as financialisation in post-Keynesian and Marxian literature. It is argued that financialisation is a consequence of decades of financial deregulation and neoliberal policies, that has given rise to shareholder value-oriented management structures and comple