Whether financialization causes neoliberalism or the reverse remains disputed.

Evidence

Some authors have argued that financialization has been the main driver of neoliberalism (Dume´nil and Le´vy, 2004), whereas others have identified a reverse causality (Kotz, 2010). — Natascha van der Zwan, Making Sense of Financialization, 37

Categorization

• QUESTION: Worth chasing the two poles of this causality debate when reading Kotz vs Duménil/Lévy in fuller form.
• corroborated: 2 independent passages support this claim — Natascha van der Zwan, Making Sense of Financialization, 37
• XREF: connects to: Financialization is a contested terrain of conflicting reproduction cycles, not a top-down imposition — Max Haiven, Cultures of Financialization, 130; Financialization resulted from deliberate deregulatory political choices, not market forces. — Ken-Hou Lin & Donald Tomaskovic-Devey, Financialization and U.S. Income…, 17

Related

• Financialization is a contested terrain of conflicting reproduction cycles, not a top-down imposition (similarity 0.82)
• Financialization research has spread across disciplines, regions, and mainstream journals. (similarity 0.80)
• Financialization resulted from deliberate deregulatory political choices, not market forces. (similarity 0.80)
• Prior research linked financialization to inequality mostly indirectly, not causally. (similarity 0.80)
• Counterfactual independence assumptions likely understate financialization’s true inequality impact (similarity 0.79)
• Financialization both derives profits from finance and drains capital from productive investment (similarity 0.79)
• Scholars asserted financialization’s existence without providing direct evidence (similarity 0.79)
• Financialization has competing explanations from three distinct scholarly disciplines. (similarity 0.79)
• The shift to finance capitalism is nonlinear, not a clean rupture (similarity 0.79)
• Financialization marks a decisive shift from production-based to finance-driven accumulation. (similarity 0.79)
• Globalization and financialization form one mutually reinforcing process, not rival frameworks (similarity 0.79)
• Financialization is integral to capitalism, not a product of deregulatory excess (similarity 0.78)
• Reading finance as a Keynesian aberration is a shared liberal and Marxist error (similarity 0.78)
• Neoliberalism is only one phase of capitalism, not the first or worst. (similarity 0.78)
• Financialization theory links wage-compromise collapse and shareholder value to inequality (similarity 0.78)