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- W2974153012 abstract "Financialization can be criticized for undermining productivity in the ‘real economy’, and this chapter examines that criticism from an ecological perspective. Viewing the economy not only as a set of institutionalized practices, but also as material interaction with the natural world, one appreciates how processes of financialization can inhibit productivity without necessarily inhibiting ecological destructiveness. From an ecological perspective, a ‘real economy’ of tangible processes and assets can clearly be distinguished from monetary conventions of accounting. This is a sharper distinction than is drawn by some orthodox economists because it is more alert to the relevance of the profit motive operating in businesses in the ‘real economy’. Profits have no necessary correlation with productivity, and can sometimes even be achieved by liquidating or exhausting productive capacities." @default.
- W2974153012 created "2019-09-26" @default.
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- W2974153012 date "2019-08-01" @default.
- W2974153012 modified "2023-09-25" @default.
- W2974153012 title "Financialization and the ‘Real Economy’: an Ecological Perspective" @default.
- W2974153012 doi "https://doi.org/10.1093/oso/9780198842767.003.0004" @default.
- W2974153012 hasPublicationYear "2019" @default.
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