Financialization of economy and politics in contemporary capitalism. Selected problems
Financialization of economy and politics in contemporary capitalism. Selected problems

Summary/Abstract: The authors analyze the essence of the problem of financialization of economy in the national and global perspectives, at the same time pointing out that this process also refers to the sphere of politics. The example of the 2007+ financial and banking crisis indicates the negative features of this process in reference to economy but also to the financial security of the states and their citizens. In the sphere of politics financialization in the external aspect is reflected in transferring public funds to private economic entities, mainly financial corporations, by virtue of political decisions. In the internal aspects financialization means an increasing role of financial instruments and resources in establishing public authorities, including parliaments and presidential offices. This tendency is considered by the authors to be an immanent feature of contemporary capitalism and a threat to democracy.

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