Doctoral Dissertation Research: Finance and the Transformation of American Capitalism, 1968-2000

这个项目考察了金融在美国经济中日益增长的重要性及其与国家政策的关系。它将金融化定义为资本主义发展的一个阶段，在这个阶段，积累主要是通过投资、保险和房地产部门的金融渠道发生的。金融部门的这种增长取代了通过贸易和商品生产积累的传统渠道。研究者认为，这种增长始于1968年凯恩斯主义危机，并持续到20世纪70年代。为了评估这一论点，该项目使用了来自国民收入账户、财经报纸、美联储文件、国会记录和对政策制定者的采访的数据来回答三个问题：1)1970年后美国经济的金融化程度如何？2)国家内部什么样的政治力量促成了向金融的转变？3)金融化如何改变了国家干预经济的模式？

This project examines the growing importance of finance in the American economy and its relationship to state policy. It defines financialization as the phase of capitalist development in which accumulation occurs largely through financial channels in the investment, insurance, and real estate sectors. Such growth of the finance sector replaces traditional channels of accumulation through trade and commodity production. The investigator suggests that the growth began with the crisis of Keynesianism in 1968 and continued into the decade of the 1970s. To evaluate this argument, the project uses data from national income accounts, financial newspapers, federal reserve documents, congressional records, and interviews with policy makers to answer three questions: 1) To what extent is financialization occurring in the American economy in the post-1970 period? 2) What configuration of political forces within the state promoted the turn to finance? 3) How has financialization altered patterns of state intervention in economy?