EconoFiction

A Critique of the Critique of Finance: Critics of neoliberal capitalism rarely recognize the productive power of speculation

23 Feb , 2018  

If there is one theme that unites the various critiques of contemporary finance, it is the emphasis on its speculative character. Financial growth is said to be driven not by the logic of efficient markets, but rather by irrational sentiment, “animal spirits” that do not respect fundamental values.

Emphasizing the ...

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