Abstract
The aim of this text is to analyze contemporary interpretations of financialization in order to create a particular approach to the subject, continuing on from the previous text, Carneiro (2019)CARNEIRO, R. Acumulação fictícia, especulação e instabilidade financeira. Parte I: uma reflexão sobre a financeirização a partir de Marx, Keynes e Minsky. Economia e Sociedade, v. 28, n. 2, p. 293-312, 2019., in which the conceptions of classical authors were discussed. The discussion on contemporary literature will adopt as a paradigm the theoretical principles proposed by Marx, Keynes and Minsky, associated with the concepts of fictitious accumulation, speculation and financial instability. Through this perspective, it is intended to not only establish continuity between the previous and the present essay, but also to examine the literature in light of an established theoretical point of view, in order to build analytical principles to understand contemporary financialization. The approach will consider the more general elements characteristic of this stage, such as fictitious or speculative accumulation, as they manifest at the level of economic agents - financial intermediaries, companies and families - and how these agents reinforce the general characteristics of this phase of capitalist development.
Keywords:
Financialization; Financial cycle; Bubble; Maximizing share value; Complex securitization; Shadow banking; Social polarization