How #TechWorkers went from dreaming of starting revolutions, to dreaming of fake #startups, to dreaming of a job for life, to fearing layoffs to make way for #StockBuybacks.

https://doctorow.medium.com/the-proletarianization-of-tech-workers-ad0a6b09f7e6?sk=6dc50e8e1afc9bbd523a2fee4959e5c0

#Precarity #Financialization #EndStageCapitalism

‘Charles Tate, a founder of buyout firm Hicks, Muse, Tate & Furst, noted, with clarity: “When you put too much debt on a company, it becomes dysfunctional, when a company is spending its whole time trying to meet the next interest payment, it can’t concentrate on the business.”’

These Are the Plunderers
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #theseAreThePlunderers #financialization #predatoryCapitalism

1988 RJR Nabisco $25 buyout: “Everyone knew LBOs [Leveraged Buyouts] meant deep cuts in research and every other imaginable budget, all sacrificed to pay off debt. Proponents insisted that companies forced to meet steep debt payments grew lean and mean. On one thing they all agreed: The executives who launched LBOs got filthy rich.”

These Are the Plunderers
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #theseAreThePlunderers #financialization #predatoryCapitalism

TRENDS + ECONOMIC. “Asset Management Society” and the encroachment of rentier capitalism; an overview of Brett Christophers‘ oeuvre. https://compactmag.com/article/how-asset-managers-took-over-your-life

#economics #PoliticalEconomy #MarketConcentration #financialization

OnlineFirst - "Finance interrupted: Social impact bonds, spatial politics, and the limits of financial innovation in the social sector" by James W Williams:

#socialimpactbonds #financialization #spatialpolitics #socialsector

https://journals.sagepub.com/doi/full/10.1177/0308518X231187409

We are farmed, Matrix-like, by a class of parasitic worms: asset managers, private equity firms, institutional shareholders - milking, bleeding us, holding local authorities and governments to ransom. Social care, utilities, homes, infrastructure, almost everything.
We do see it - our champions cannot or will not envisage an alternative. Democracy fails us on this as on climate change. Abdicate, despair or fight?

#economics #financialization

https://www.theguardian.com/society/2022/mar/26/revealed-top-10-childrens-care-providers-made-300m-profits

https://www.theguardian.com/commentisfree/2023/apr/25/asset-managers-investment-firms

More of this;)

French protesters with flares storm BlackRock offices in Paris

https://piped.video/watch?v=US_QP5yuYuI

#macron
#financialization #protests #workerSolidarity #blackRock

New Working Paper:

Inequality-constrained monetary policy in a financialized economy

In a nutshell, growing inequality under financial liberalization may constrain the conduct of monetary policy by the central bank, even when it is not explicitly targeted.

Here the link to the paper:

https://ideas.repec.org/p/anc/wpaper/474.html

#econtwitter #macroeconomics #abm #monetarypolicy #financialization

#Microfinance was once hailed as a miracle cure for poverty. And, done well, it can still play a role.

But the sector, like everything, is being financialized. Therefore, it is increasingly dominated by financial interests and that is having predictable, negative consequences.

Watch our mini-documentary 📺

https://lnkd.in/gFNvUPzs

#financialization #microcredit #alwaysawrongwaytodotherightthing

watch @vanishingcorp talk on how this happened and why this is so corrosive at @iftf Ten Year Forecast https://www.youtube.com/watch?v=kAcUFbrh46o #equitableenterprise #financialization #changingtheregister

Turning households into portfolio managers was a political project to make us see everything through the lens of capital and investment. Privatizing social security was key. Making everyone a stock owner would turn everyone into a Republican, creating according to Grover Norquist “a true and permanent national majority.” More on how this happened and why this is so corrosive watch @vanishingcorporation talk at @iftf Ten Year Forecast https://www.youtube.com/watch?v=kAcUFbrh46o #equitableenterprise #financialization

OnlineFirst - "Unpacking corporate ownership in property markets: A typology of investors and the making of an investment value chain in Brazil" by Daniel Sanfelici and Maira Magnani:

#financialization #corporatelandlords #commercialpropertymarkets
#marketbehavior
#investmentvaluechain

https://journals.sagepub.com/doi/abs/10.1177/0308518X231157742

Anybody else trying to go to #ASAP14 and want to get a panel together? I do stuff on #Gender #Ecology #Financialization #MediaStudies

@academicchatter

I have a new article out w/ @closthilaire & @mikaelbrunila in
@APA_Planning, and it's a special one. It's called "High Rises and Housing Stress". It's the first detailed examination of rental housing #financialization in a city, & it's FREE to read: https://www.tandfonline.com/doi/full/10.1080/01944363.2022.2126382

1/

> I feel like there are now three constant processes in our world:

> 1) #Carcinisation - everything evolves to become a crab

> 2) #Financialization - eventually all business eventually turn into finance firms.

> 3) #Enshitification - all producers eventually strip-mine their reputations.

-srboisvert on #Metafilter

https://www.metafilter.com/198011/Enshittification#8352515

Pleasant surprise that this volume is now open access. Wrote something on: Waren, Wissen und „Raum“: Die Dunklen Seiten globaler Lieferketten im Lebensmittelhandel. English abstract below. #globalvaluechains #darksides #politicalecology #financialization
https://link.springer.com/chapter/10.1007/978-3-658-30719-6_16

OnlineFirst - "From homes to assets: Transcalar territorial networks and the financialization of build to rent in Greater Manchester" by Richard Goulding, Adam Leaver, and Jonathan Silver:

#financialization #housing

https://journals.sagepub.com/doi/full/10.1177/0308518X221138104

We already know how they feel about workers, but the investor class is going full mask off.

Time to get out the pitchforks!

https://yewtu.be/watch?v=-9A1By1F78I

#EatTheRich #economics #workersolidarity #capitalism #financialization #JimmyDore

We already know how they feel about workers, but the investor class are going full mask off.

Time to get out the pitchforks!

https://yewtu.be/watch?v=-9A1By1F78I

#EatTheRich #economics #workersolidarity #capitalism #financialization #JimmyDore

@juglugs Is there an article-length account of the whole crypto thing from a Marxist point of view?
#crypto #currencies #money #financialisation #financialization #histmat