Finanziarizzazione delle imprese e disuguaglianze

Abstract

The contemporary dynamics of inequality are connected rather to the imbalances in the distribution of income “at its source” than to the eneffectiveness of the redistribution devices. This paper shows that the processes of financialization of firms – i.e. the tendency of firms to pursue financial accumulation strategies, or anyway to pursue the maximization of return on capital for investors in the short term – enrich financial and managerial elites, whilst they trigger a decline of wages. The empirical analysis, specifically referred to the Italian case, considers both the accumulation strategies of large non-financial firms, and the effects of the “short-termist turn” of economic players in the foundational economy.