financialization

The financialisation of the covid19 crisis

Mié, 04/29/2020 - 19:04 -- anegrete

The economic crisis that accompanies the COVID19 and its health crisis have generated stock market collapses that had never been seen before. The decline has been more marked than that which occurred between 1929-31 and deeper.

Between February 25 and March 23, the financial markets had lost more than 30% of the value of their assets and the outlook was worse. The immediate solution was to inject the financial system in the United States, which was reproduced by the ECB and the Bank of England.

On the contrary, the US economy has accumulated, since February 2020, more than 27 million jobs lost, the highest in its history. The question of the rescue of the stock markets in the face of uncontrollable unemployment raises the question of the importance of the financial sector for decision-makers and policy makers.

World Bank Financializing Development

Mar, 03/26/2019 - 16:52 -- aocampo

El Banco Mundial ha legitimado con éxito la noción de que la financiación privada es la solución a las preocupaciones urgentes de desarrollo y bienestar, incluido el logro de los Objetivos de Desarrollo Sostenible (ODS) a través de la Agenda 2030.

Un informe reciente de McKinsey estima que el mundo necesita invertir aproximadamente US $ 3,3 billones, o el 3.8 por ciento de la producción mundial anual, en infraestructura económica, con aproximadamente tres quintas partes en mercados emergentes y otras economías en desarrollo, para mantener el crecimiento actual.

Los titulares de estos valores no tienen incentivos para priorizar los objetivos sociales o ambientales. El capital privado y los fondos de cobertura que tienen incentivos a corto plazo para la obtención de beneficios, incluso mediante la liquidación de activos, no se preocupan por los intereses sociales, ambientales o de otro tipo.

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