Financialisation and the financial and economic crises: The case of Turkey

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Financialization, neo-liberalism and securitization

International audienceThe financial crisis can be explained as the ultimate result of the gradual move towards neoliberal policies and the acceptance of neoliberal economic theories. The purchasing power of ordinary workers and consumers has been constrained by the evolution of six economic features: environmental issues, globalization, sound finance, the focus of central banks on inflation, and the new views on corporate governance, based on shareholder value and money manager capitalism. The generalization of securitization also played a large negative role—a role that was not well identified by heterodox economists