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0 pointsApocryphon10y ago0 comments

There's been much talk about the "financialization of everything"[1], but how did it come to this? What change in laws, what shift in culture, produced this growth at all costs mentality? HFT? The Reagan Revolution? Moving manufacturing offshore?

[1] https://news.ycombinator.com/item?id=9106983

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wycx10y ago

I suspect also the end of Bretton-Woods, and western counties moving from dominantly Keynesian economic policy to dominantly Monetarism/Neoliberalism (which is responisble for your last two points).

I suggest the following article [1] for more on neoliberalism, as well as Philip Pilkington's series of articles on the origin on neoliberalism.

[1] http://www.globalexchange.org/resources/econ101/neoliberalis...

theandrewbailey10y ago

Sometime in the 1970s or 1980s, companies started optimizing for maximum shareholder value; everything else be damned. HFT and offshoring manufacturing were deliberate effects of it.

digi_owl10y ago

https://en.wikipedia.org/wiki/The_Mayfair_Set

While done from a UK perspective, I think part 2 and 3 takes a trip over the Atlantic.

hueving10y ago

HFT has absolutely nothing to do with maximizing shareholder value.

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