69 more words
It’s no secret by now that the recent spike in American inequality, and the gains rapidly accruing to those at the upper end of the income distribution ladder, are driven in large part by “financialization”—the growing scale and profitability of the financial sector relative to the rest of the economy, and the shrinking regulation of its rules and returns.
Tags » Financialization
The paper, by Bradford M. Van Arnum and Michele I. Naples, presents a historical overview of the unprecedented growth of the financial sector and its implications on income inequality. 48 more words