Financialization may be the root cause behind deunionization, globalization, up-skilling, and falling investment.

Evidence

In this chapter, I argue that the rise of precarious (part-time, casualized, temporary) labour in the era of globalization (roughly 1990– present) cannot be separated from the financialization of economic, political, social and cultural life. … Both illustrate the deep relationship between financialization and the liquidation of social bonds. Yet I also argue that precariousness may be a common ground for solidarity and possibility beyond the horizon of financialization. — Max Haiven, Cultures of Financialization, 141 (#complicates, via linked claim)

Categorization

• XREF: connects to: Financialization channels income toward the wealthy and depresses productive investment and wages. — Ken-Hou Lin & Donald Tomaskovic-Devey, Financialization and U.S. Income…, 24; Financialization shifts firm investment from core business toward finance, weakening workers’ claims on revenue. — Ken-Hou Lin & Donald Tomaskovic-Devey, Financialization and U.S. Income…, 54; Financialization caused roughly three-quarters of the labor share decline by 1997. — Ken-Hou Lin & Donald Tomaskovic-Devey, Financialization and U.S. Income…, 158 (+2 more)

Related

• Financialization drives the rise of precarious labor and dissolves social bonds (similarity 0.92)
• Financialization caused roughly three-quarters of the labor share decline by 1997. (similarity 0.84)
• Financialization may be a root cause behind union decline and offshoring (similarity 0.82)
• Financialization channels income toward the wealthy and depresses productive investment and wages. (similarity 0.82)
• Financialization drives earnings inequality nearly as much as declining unionization (similarity 0.82)
• Financialization functions as a disciplinary mechanism to exploit labor and displace capitalist contradictions (similarity 0.82)
• Financialization caused most of the decline in labor’s income share since 1970 (similarity 0.82)
• Financialization shifts firm investment from core business toward finance, weakening workers’ claims on revenue. (similarity 0.81)
• Financial liquidity grows by making social relations themselves precarious and liquid. (similarity 0.81)
• Financialization independently explains over half of labor’s falling income share since 1970. (similarity 0.81)
• Deunionization still leaves much wage inequality unexplained, pointing to financialization (similarity 0.80)
• Financialization theory links wage-compromise collapse and shareholder value to inequality (similarity 0.80)
• Inequality dimensions reflect one institutional shift toward financialization (similarity 0.80)
• Financialization may erode the postwar capital-labor social pact (similarity 0.79)
• Prior research linked financialization to inequality mostly indirectly, not causally. (similarity 0.78)

Broader Connections

• Financialization drives the rise of precarious labor and dissolves social bonds #complicates (0.72) — Max Haiven, Cultures of Financialization, 141