The liquidated company. Finance versus investment.

Summary In thirty years, finance has become all-powerful. Not a day goes by without knowing the movements of the CAC or the NASDAQ, not a week without an analysis of the exchange rate, not a month without a factory closure, not a year without concern about the public debt, not a decade without a financial crisis. The macroeconomic record of our Western economies is not very good: sluggish growth, sluggish investment, endemic unemployment, growing inequality. The evidence is clear: liberal policies have deregulated finance, and the white man, who once accompanied industry in its long-term investments, is now an obstacle. The creativity of financiers has replaced that of entrepreneurs. For the new generation of French economists, it is urgent to put finance back in its place: it is not the economy that should obey finance, but finance that should serve the economy. This book deciphers thirty years of financialization of the economy, offers a detailed examination of the relationship between business and finance, and puts forward proposals - analyzed and commented on by Michel Aglietta - for better thinking about the real economy.