Financialization involves new forms of state intervention, not state retreat.

Evidence

What we have witnessed over the past few decades is therefore not the retreat of the state at the behest of the market, but rather the emergence of an altogether different type of state intervention. Crouch (2009, 2011) has coined the term ‘privatized Keynesianism’ to describe the Anglo-American policy regime in which citizens, not governments, take on debt to stimulate the economy. — Natascha van der Zwan, Making Sense of Financialization, 97

Categorization

• DEFINE: Defines ‘privatized Keynesianism’ — citizens taking on debt to stimulate the economy rather than governments.
• corroborated: 2 independent passages support this claim — Natascha van der Zwan, Making Sense of Financialization, 97
• XREF: connects to: Financialization is a political project tied to US hegemony, not a market efficiency outcome. — Natascha van der Zwan, Making Sense of Financialization, 35; Financialization is integral to capitalism, not a product of deregulatory excess — Max Haiven, Cultures of Financialization, 34

Related

• Financialization is a political project tied to US hegemony, not a market efficiency outcome. (similarity 0.82)
• Reading finance as a Keynesian aberration is a shared liberal and Marxist error (similarity 0.82)
• State retreat forced all economic classes into direct financial participation (similarity 0.82)
• The state actively drives financialization through policy, while individuals internalize its risk discourses. (similarity 0.81)
• The US economy became increasingly financialized in the post-1970s period. (similarity 0.80)
• Financialization accelerated through 1970s-80s deregulation and state support (similarity 0.80)
• Keynesianism converted interwar resistance to finance into postwar stability. (similarity 0.80)
• Financialization is a recurring signal of a declining economic hegemon, not a novel event. (similarity 0.80)
• Financialization replaced welfare-state collective security with individualized speculative insurance (similarity 0.79)
• Post-war demand management was replaced by credit-financed private consumption (similarity 0.79)
• Solutions to financialization require abolishing capitalism, not just re-regulating finance (similarity 0.79)
• Financialization resulted from deliberate deregulatory political choices, not market forces. (similarity 0.79)
• Financialization also operates as a cultural shift toward entrepreneurial self-management of household finances. (similarity 0.78)
• Financialization shifts capital intermediation from institutions to markets. (similarity 0.78)
• Financialization operates as decentralized power through everyday financial practices (similarity 0.78)

Broader Connections

• Financialization is integral to capitalism, not a product of deregulatory excess #expands (0.72) — Max Haiven, Cultures of Financialization, 34