Loading ...snip
Given its parasitic, predatory nature, it’s not surprising that finance is the primary engine of extreme wealth-income inequality. The fortunes of the few assembled over the past two decades largely trace back to the expansion of debt and leverage (i.e. financialization) which emphasizes marketing as consumption expands not from earnings but from the expansion of debt and leverage.
The problem is parasitic, predatory finance is inherently unstable, as it destabilizes the real economy by distorting every level of regulation and governance and deranges incentives to reward the least civic-minded, the least ethical and the sleaziest self-absorbed gamblers, those who demand a bailout when their private gains turn into private losses.