Caracteristicas Capitalismo Financeiro

Financial capitalism, a phase in the evolution of capitalism, is characterized by the dominance of financial institutions and the pursuit of profit through financial activities rather than traditional industrial production. It’s marked by several distinct features:

• Financialization of the Economy: This is perhaps the defining characteristic. Financialization signifies a shift in economic activity towards finance. A larger proportion of corporate profits come from financial investments, speculation, and services (like insurance, asset management, and banking) rather than the production and sale of goods and services. This includes the increasing influence of financial markets on non-financial corporations, pushing them to prioritize shareholder value and short-term financial gains.
• Dominance of Large Financial Institutions: Giant banks, insurance companies, hedge funds, and other financial institutions wield significant power. These entities often operate globally, influencing economic policy and wielding considerable political influence. Their size and interconnectedness pose systemic risks, as their failure can trigger broader economic crises.
• Deregulation and Liberalization: A key enabling factor for financial capitalism is the deregulation of financial markets. This involves removing government restrictions on financial activities, such as interest rate controls, capital flows, and the types of financial products that can be offered. Liberalization opens up national financial markets to international capital, increasing global financial integration.
• Increased Speculation and Volatility: With deregulation comes increased speculation. Financial capitalism fosters the creation and trading of complex financial instruments, such as derivatives and securitized assets. These instruments can be used for hedging risks, but they are also often used for speculative purposes, leading to increased market volatility and the potential for asset bubbles.
• Short-Term Focus on Shareholder Value: Companies are increasingly judged by their stock price and their ability to deliver short-term returns to shareholders. This pressure leads to decisions that may benefit shareholders in the short run but can be detrimental to long-term investments in research and development, employee training, or sustainable business practices. This often comes at the expense of workers and communities.
• Globalization of Finance: Financial capital flows freely across national borders, seeking the highest returns. This globalization of finance creates opportunities for investment and economic growth, but it also exposes countries to financial instability and crises originating in other parts of the world.
• Increased Inequality: Financial capitalism tends to exacerbate income inequality. Profits from financial activities disproportionately accrue to a small segment of the population, primarily those who own financial assets and work in the financial sector. This can lead to a widening gap between the rich and the poor and social unrest.
• Commodification of Debt: Debt becomes a central feature. Individuals, corporations, and governments are encouraged to borrow money, fueling consumption and investment. This debt is often repackaged and sold as financial products, further contributing to the financialization of the economy. The ease of access to credit can lead to unsustainable debt levels and financial crises.

In conclusion, financial capitalism represents a shift towards a finance-dominated economy with a focus on short-term profits, deregulation, speculation, and globalization. These characteristics can lead to economic growth and innovation, but also create significant risks and contribute to economic instability and inequality.