Tuesday, April 18, 2023

Financialism

Well, it finally occurred to me that financialization is the process which turns capitalism into something that can only be called financialism. So I looked that up. 

Jackpot. 

At SSRN, a download page for "Financialism: A (Very) Brief History" by Ezra Wasserman Mitchell of the Shanghai University of Political Science and Law. The paper is dated August 9, 2010, and the download page contains an abstract.

The downloaded PDF has the same title but the author is Lawrence E. Mitchell and there is no abstract. I can see that Lawrence E. might be Lawrence Ezra, the same person, but I don't know that, and I don't want to attribute the paper to the wrong guy.. Anyway, the 15-page paper grabbed my attention. It is about half footnotes, by the way.

A note at the bottom of the first page says

An earlier version of this essay was presented as a lecture at Creighton University Law School and published at 43 Creighton L. Rev. 323 (2010).


The same search turned up the 12-page PDF "Financialism: A Lecture Delivered at Creighton University School of Law", by Lawrence E. Mitchell, Theodore Rinehart Professor of Law at George Washington University. This paper is dated September 25, 2009. This version has no footnotes. 


Both versions of the paper end with the sentence "We must destroy financialism for the sake of capitalism." I'm in.

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