SOCIAL AND POLITICAL CONSEQUENCES OF FINANCIALIZATION OF CONTEMPORARY CAPITALISM

Abstract

The article deals with the essential characteristics of modern financial capitalism and suggests the author’s vision of the socio-political consequences of financial “domination”. The logic of the tendencies of financialization traced in the article gives grounds to assert that the way out of the created social and economic impasse lies in the plane of post-capitalistic social reality. The crisis phenomena generated by the financial stage of capitalism development are systemic by nature and can’t be overcome within the framework of the previous model of the world order. The coincidence of development vectors of the two processes that are different in nature: the objective one is globalization and the subjective – financial globalization, actualizes the general risks of transition to a qualitatively more advanced stage of social development.

Keywords

• “Financial bubble”
• world order
• financialization
• deprivation of liberal democracy
• decline of the middle class
• universalization