How financialization has driven an increase in inequality across the world

The modern era has witnessed a dramatic increase in wage inequality across the developed world since the late 1990s. While previous assumptions might have predicted that Europe could resist such forces, Sciences Po researcher Olivier Godechot of MaxPo and the OSC finds that France, too, has fallen prey to increasing inequality.

His research shows that finance professionals are largely to blame and can be justifiably seen as the “bad guys” who hold financial firms hostage by demanding large bonuses, threatening to move key assets to competitors if they do not get what they want.
Interview with Olivier Godechot, author of Financialization Is Marketization! A Study of the Respective Impacts of Various Dimensions of Financialization on the Increase in Global Inequality.

What do you mean by “financialization” and why is it important?

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