(Bloomberg View) – Three decades ago, a revolution occurred in the world economy. Today, we're living through its extensive political consequences.
This revolution consisted of financialization. Financial services, from banks and hedge funds to trading houses, became the largest industry in the U.S.
Market speculation replaced industrial productivity as the motor of U.S. growth, while mobile capital was steadily liberated from tax and regulatory regimes around the world.
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
