Growing financial power systematically dismantled Bretton Woods-era regulatory controls.

Evidence

As financial power has grown, it has managed, nearly everywhere, to fundamentally undermine (or at least widen loopholes in) those Bretton Woods regulatory systems that had once sought to keep it in check (Stiglitz 2010, 1–26). Banking, investment and insurance firm mergers have, as early as the 1990s, facilitated the emergence of colossal economic powerhouses headquartered almost exclusively in North America and Europe, which both finance and benefit from the International Monetary Fundand World Bank-brokered politics of third-world debt and structural adjustment (Bello 2013). — Max Haiven, Cultures of Financialization, 150

Categorization

• XREF: connects to: Capital controls were embedded in the Bretton Woods IMF framework — Quinn Slobodian, Globalists: The End of Empire and the…, 448; Global finance has escaped the collective control of advanced capitalist states. — David Harvey, The Condition of Postmodernity: An…, 985; A bipartisan deregulatory wave dismantled US financial separation statutes — Andrew deWaard, Derivative Media: How Wall Street…, 78 (+3 more)

Broader Connections

• A bipartisan deregulatory wave dismantled US financial separation statutes #exemplifies (0.90) — Andrew deWaard, Derivative Media, 78
• Global finance has escaped the collective control of advanced capitalist states. #expands (0.82) — David Harvey, The Condition of Postmodernity, 985