La cara oculta de la "Nueva Economía"financiarización y regresión social en los EEUU

Abstract

During the 1990s, the USA has gone through a process of economic growth, job creation, technical development and productivity increase. This capital accumulation process has been driven by two facts. On the one hand, the international position achieved by dollar has allowed them to raise a great amount of financial resources while creating an excess of credit availabilty which has given rise to the increase of speculation on the stock exchange, business investment and private consumption. On the other hand, the "shareholder value" demand made by institutional investors has become the main device used by capital when attacking labour, hence the growing financialization process has resulted in a parallel deterioration of workers' standard of living (drop in real incomes, increase of working time, fall in savings, rise of inequaltiy, etc).