financialisation
Financialisation refers to the increasing importance of financial markets, financial motives, financial actors, and financial institutions in the operation of domestic and international economies. It signifies a shift where financial activities, rather than the production of goods and services, become a primary driver of economic growth and decision-making. This process can manifest in various ways, including the growth of the financial sector relative to the real economy, the increasing share of profits derived from financial activities, and the penetration of financial logic into non-financial areas of life.
Key characteristics of financialisation often include a rise in debt levels, both corporate and household, and