Discover and read the best of Twitter Threads about #financialization

Most recents (17)

Dec 15, 2022: "Joint Statement of the Government of the #USA & the Govt of #Australia on Cooperation on Natural Capital Accounting, Environmental- Economic Accounting, & Related Statistics"


#Financialization of #nature…
Decades in devt. Three yrs to obtain social license.

Sept 19, 2019: "In addition to the rapid decarbonization of the energy, industrial & transport sectors, the emergency response must include a major investment in #naturebasedsolution."

#Marketing 👇…
Nature4Climate: a coalition of 20 orgs including #WWF (bears responsibility for murder, rape & torture of Indigenous peoples) & We Mean Business, co-founded by The Climate Group. Key person Callum Grieve, marketing expert, behind Greta machine from day 1.
Read 4 tweets
The crisis is upon us. The PM & Chancellor have provoked the interlinked financial markets & the bear has woken, angry & hungry. What should the PM, with power, do? Remove the dart that wounds the beast. Calm & if necessary subdue it. Convene wise & experienced councils.
Combat climate change. But now, today: 1. Replace Kwarteng by Sunak, & cancel #budget2022. It has been an unmitigated disaster, politically & economically. 2. Reappoint a previous respected mandarin to head @hmtreasury to reassure the public & the markets.
3. Convene an open public meeting of the PM, the Chancellor, the Governor @bankofengland , the head of the @OBR_UK & the head of the @TheFCA to further reassure the markets. The turmoil must be stopped urgently before bankruptcies overtake policy. The markets take no prisoners.
Read 13 tweets
I remember giving evidence to a @HouseofLords2 (?) committee in the 1990s, with Lord Lawson in fine fettle. He knew next to nothing about climate science or economics, despite having been Chancellor. He is still in the House of Lords, but quiescent. We all can wonder why.
The @GWPF_org has traduced climate science and scientists & economists who don’t agree with him. Lawson is responsible for the Big Bang of financial deregulation in London, which quickly spread to Wall St. He has actively, with aforethought, denigrated climate change mitigation.
The #Financialization started by the Big Bang should have ended with the #GreatFinancialCrisis of 2007 onwards. But the banks were bailed out, & the govt took on their debt. Lawson & his Foundation are the 1980s UK version of modern neocons. Antediluvian. @KevinClimate knows.
Read 3 tweets
Conference ends. Truss at a twisted podium paints #TheGrowthPlan in more, unconvincing detail. @Conservatives turned into a pale, English version of MAGA neocon extremism. First they were infiltrated by the Brexit Party, now they’ve been taken over by UK followers of a US elite.
It’s as if the UK economy were a plaything for a right-wing experiment, enacting tax cuts and deregulation, attacking the woke, politics as entertainment. They don’t need any data or economic expertise. They know it all. Disrupt and hope for the best. #PostTruthEconomics
The UK establishment has been systematically undermined and damaged by these neocons grabbing the levers of power. Whitehall mandarins sacked, mocked, or broken. Lickspittles promoted as negotiators. The unwritten constitution tested and twisted to malign ends. Brexit. Clowning.
Read 7 tweets
#PostTruthEconomics aka Trussonomics or Trumponomics is the economics being followed by #PostTruth governments that ignore economic expertise and formal forecasting & scenario analyses in favour of evidence-free policies based on ideology or populism - a thread
In the UK, the #budget2022 is a prime example: no @OBR_UK costings with scenarios based on alternative assumptions; policy changes based on wishes & hopes, rather than evidence; facile & ad hoc justifications (trickle-down economics); bluster & mis-speaking arrogance; and lies.
One feature of #PostTruthEconomics is the co-option of non-mainstream, outlier, ideological, or dead economists to provide confident justification, at least of aspects of the policies, e.g. for #budget2022 Prof Patrick Minford @JamesVa72538332
Read 60 tweets
"Institutional investors...have squeezed residential markets in many parts of the world, can be expected to pick up a purchasing pace that has turned them into the world’s biggest private landlords and transformed rental housing into a go-to global asset class."
“Institutional ownership threatens to accelerate the trends unleashed by the financialization of housing”

"...automated digital platforms have made it easier and cheaper to track, price, acquire and manage large swaths of homes in multiple communities."
Read 23 tweets
Where does the New Whole State System 新举国体制come from? To what extent does it help advance China's innovation in strategic sectors like semiconductors? How does it inform about the global concurrent expansion of state capitalism? Here's our new article… Image
Instead of perpetuating the geo-imaginary of Western liberal democracy vs. Chinese authoritarianism, we situate the p-2008 expansion of state capitalism in China as part of the worldwide response to the crisis of global capitalism (over-production, excess liquidity, slow growth) Image
Focusing on the NWSS as an assemblage of discourses, policies, and practices, we show how it builds on/departs from the old socialist whole state system. We argue that the Chinese state is not monolithic, unchanging, and culturally essentialist. Image
Read 10 tweets
Imperative to shift focus. Missing from #FreedomConvoy dissent is rule of British Crown/British Empire - head of #GreatReset convened via #WEF platform.

#Trudeau: "in all things I shall do as a faithful & true servant ought to do, for Her Majesty, so help me God."

Vanity Fair, May 22, 2020: "Now he [Charles] has shifted his attention to the world stage, announcing a project he’s calling "#GreatReset," [] Along w/ the #WEF, [] Charles will kick off the project at a virtual event on June 3."

"The Royal Family" 👇

In Jan 2020 at Davos, Charles started announced his Sustainable Markets Initiative in partnership w/ #WEF. He spoke "about how he thought #capitalism needed to "reset" in order to prevent the worst effects of climate []. Now he’s applying that [] to [] #conavirus." [Vanity Fair]
Read 9 tweets
Last May, the profitable @chicagotribune was acquired by the notorious vulture firm Alden Global Capital. They suffered waves of downsizing, including a sell-off of the iconic Tribute Building. Today, a skeleton crew puts out the Trib from "a newsroom the size of a Chipotle."

1/ The cover of The Chicago Tribune on election day 1932, annou
If you'd like an unrolled version of this thread to read or share, here's a link to it on, my surveillance-free, ad-free, tracker-free blog:…

In a long, deeply reported article about Alden for @TheAtlantic, @mckaycoppins catalogs the civic losses that Chicago suffered when its major daily newspaper was bought and strangled by Alden and its secretive, far-right owners.…

Read 50 tweets
1/ With financial innovations such as #sustainablefinance and #impactinvesting increasingly viewed as key to the solution of current social and environmental crises, let’s take a look at how we got here, what might be problematic about that and what to do about it. 👇
2/ This is a thread about the empirical part of my book that traces the history of #socinv in the UK. I’ll leave the theoretical argument based on Fligstein & McAdam’s strategic action field theory & pragmatist action theory for another time.…
3/ Financial innovations such as #impinv or #socinv mean that firms succeed to make money from financial intermediation where they haven’t done before. To do so, these firms have to make others participate: investees wanting finance, gov to regulate (and often subsidize), etc.
Read 16 tweets
Happy to see this paper with @thoatley published in Socio-Economic Review. Building on the literature on the exorbitant privilege, we explore the drivers of American #financialization. The US financial sector almost doubled in size between 1980 and 2005. 1/n
Few other industrial democracies witnessed a similar increase in the value added by finance. Financial intermediation did not rise everywhere. Rather, it shrank in some countries, grew moderately in others, and expanded significantly in CA, AUL, IRL, the UK, & the US. 2/n
Interestingly, this growth does not appear to be due to internal financial #deregulation. Relative to other countries, the US deregulated little bn 1980 and 2017. Yet, it experienced one of the largest increases in the size of its financial sector. What explains this puzzle? 3/n
Read 12 tweets
Happy to see this article with Evelyne Huber and John D. Stephens published in RIPE (@RIPEJournal). Focusing on 18 post-industrial democracies between 1960 and 2015, we re-examine the relationship bn #financialization and economic #inequality. (1/n)
We make 3 theoretical contributions. First, we identify which aspects of fin sector growth can increase inequality. We posit the shareholder value model of corporate governance (SVM) and the financialization of non-financial firms (FNF) can exacerbate income differentials. (2/n)
SVM raises executive compensation and ensures the largest income gains accrue to the very rich. FNF increases the demand for financial professionals, generating well-paid employment opportunities for financial sector workers and resulting in higher wages in the industry. (3/n)
Read 11 tweets
But Italian bourgeoisie was wealthy: what did they do? They invested: “#money was taken out of national circuits to be invested in whatever foreign government loans looked promising” and in the agricultural production in nearby lands.
Rich Italians became gentlemen farmers and rentiers, no longer merchants and industrialists. As Bas van Bavel has recently argued in “The Invisible Hand?”,
the #financialization of the economy spelled the doom of #Italy. It was wealthy but it was producing less and less, its fleets shrinking, its industrial output declining.…
Read 3 tweets
"First, we need to acknowledge that our collective failures as humanity to live within planetary boundaries"

No. This is the failure of the capitalist system, & global/industrial civ. Not collective, but Anglo-led.

#Financialization of Nature
["our collective failure"] to respect the wisdom of our ancient ancestors, [] & health experts...

Indigenous peoples rep. less than 5% of population, - yet manage 25% land & support approx. 80% all biodiversity. Instead of listening/learning - you turn a blind eye to genocide.
Club of Rome & partners turn a blind eye to ongoing torture, murder, rape, displacement of Indigenous Peoples (#WWF). Now, working w/ the corporations/entities that have plundered the natural world, you push for further displacement of #Indigenous via #NewDealForNature.
Read 9 tweets
1/ I feel so disappointed seeing the somewhat preventable economic dumpster fire that is upon us now, figuring it's about to get much worse with unknown cascading effects

Corporations, pension funds, central banks and governments alike all just kept kicking the can down the road
2/ Everyone kept acting like the party would never end. Rack up more dept. Leverage yourself up some more. "Let's lower the Fed's fund rate at THE PEAK of the biggest bull market in history, we won't ever need more firepower down the road".
3/ Pension funds were already insanely underfunded, needing > 7.4%/yr just to not become MORE underfunded. They're dead. Toast. Good luck Boomers.
Read 9 tweets
1/ TWEETSTORM about #Wyoming’s BIG REVEAL. This is long & info-packed, so buckle in. My native state is about to do bigger things for #blockchain, & the sector is about to pay Wyoming back big-time. Win-win! @Tyler_Lindholm @SenatorDriskill @TraceMayer @ForbesCrypto
3/ New bill 2 parts. 1-Digital asset custody via #SEC #CustodyRule wld create first true #QualifiedCustodian for digital assets (for investors who by law can’t self-custody). 2-Defines property rights for digital assets—doing something HUGELY IMPT for #bitcoin/virtual currencies
Read 40 tweets
1/5 Our article titled "Financialization, financial development and investment. Evidence from European non-financial corporations" is now available on-line within SER articles at:…
#financialization #corporation #financialdevelopment
2/5 This article provides estimations of the effects of different financial channels on physical investment in Europe using the balance sheets of publicly listed non-financial corporations (NFCs) for the period 1995–2015. 2/4
3/5 Both financial payments and financial income have an adverse effect on investment. The negative impacts of financial income are non-linear with respect to company size: they crowd out investment in large companies, and have a positive effect in relatively smaller ones.
Read 5 tweets

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