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Reading: Capitalism, Corporatocracy, and Financialization: Imbalances in the American Political Economy

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Capitalism, Corporatocracy, and Financialization: Imbalances in the American Political Economy

Author:

Dennis Shen

London School of Economics’ Institute of Public Affairs, GB
About Dennis
Second year student in the M.P.A. in International Development and specializes in international political economy
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Abstract

A fundamental re-thinking in the balance between markets and government is required today in the United States. The progressive liberalization of markets and withdrawal of government intervention since the 1980s has led to clear consequences. The modern state of corporate hegemony in politics, financial instability, low growth and rising inequality serve as stark reminders to the shortcomings. This paper examines the effects that neo-liberal policies over the past thirty years have had on the modern political inequality and economic instability. The paper concludes that an imbalance between markets and government has been central to the problems we observe today. To confront modern challenges, America requires a re-strengthened and reformed state – one that will evict special interests, present a properly regulated market economy and reinstitute a new moral direction for our nation’s future. Only by resolving the balance between private markets and government regulation can we restore the nation that represents the freedom, equality, prosperity and compassion that is America at its best.

How to Cite: Shen, D., 2012. Capitalism, Corporatocracy, and Financialization: Imbalances in the American Political Economy. The Public Sphere: Journal of Public Policy, 1(1), pp.15–32.
Published on 01 Jan 2012.
Peer Reviewed

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