Financialization: A Primer | The Brecht Forum

The structural changes that paved the way for financialization involved the squashing of working-class aspirations during the Reagan-Thatcher years; the defeats of the miners’ strike in England and of the air traffic controllers’ (PATCO) strike in the United States were perhaps the most symbolic instances of this process. At the same time, these and other governments increasingly embraced the twin policy mantras of fighting inflation and deregulating markets in place of creating full employment and raising wages. Corporations pushed through legislation to dismantle the financial regulations that inhibited their profitmaking strategies.

via Financialization: A Primer | The Brecht Forum.