Arrighi and Phillips asserted financialization without empirical support

Evidence

To take two prominent examples, Arrighi’s (1994) The Long Twentieth Century explains financialization as resulting from intensified intercapitalist and interstate competition during periods of hegemonic transition. More recently, Phillips (2002) argues in Wealth and Democracy that the financialization of the US economy has produced extreme wealth and income polarization in the US in recent years, eroding the social bases of American democracy. Yet neither Arrighi nor Phillips establishes the existence of financialization. — Greta R. Krippner, The Financialization of the American…, 9

Categorization

• XREF: Frames the foundational empirical gap this paper fills — directly relevant to the reader’s ‘foundational article defining financialization’ purpose. — connects to: Scholars asserted financialization’s existence without providing direct evidence — Greta R. Krippner, The Financialization of the American…, 9; Financialization lacks rigorous empirical evidence defining its timing and magnitude — Greta R. Krippner, The Financialization of the American…, 13

Related

• Scholars asserted financialization’s existence without providing direct evidence (similarity 0.91)
• Financialization lacks rigorous empirical evidence defining its timing and magnitude (similarity 0.88)
• Financialization is a pattern of accumulation dominated by financial channels over trade and production (similarity 0.82)
• The US economy became increasingly financialized in the post-1970s period. (similarity 0.82)
• Prior research linked financialization to inequality mostly indirectly, not causally. (similarity 0.80)
• Financialization is a recurring signal of a declining economic hegemon, not a novel event. (similarity 0.79)
• The financialization literature lacks a unified definition across four competing usages (similarity 0.78)

Broader Connections

• Financialization lacks rigorous empirical evidence defining its timing and magnitude #corroborates (0.85) — Greta R. Krippner, The Financialization of the American…, 13