financialization is an increase in the size and importance of a country's financial sector relative to its overall economy. fincncialization has occurred as countries have shifted away from industrial capitalism. this impacts both the macroeconomy and the microeconomy by changing financial markets and by influencing corporate behavior and economic policy. financialization also affects individuals and families. ?'s great grandparents worked in automobile factories. his grandparents were farmers. his parents worked for a paper company and he works on wall street. each generation of his family worked in one of the fields that offer the most jobs at that time. as ? was growing up, the financialization was in full swing and ? him toward a job as an investment banker. the financial sector offers many more jobs and much better pay than it did when his parents, grandparents or great grandparents were working. in the united states, the size of the financial sector as a percentage of gross domestic product has grown from 2.8% in 1950 to 7.9% in 2012. financialization has also caused incomes to increase more in the financial sector than in other sectors of the economy. individuals working in the u.s. finance sector had experienced a 70% increase in their incomes relative to workers in other sectors since 1980. the united states has the world's largest and most liquid financial markets but financialization has also occurred in many other countries around the world even in emerging markets such as mexico and turkey.
- industrial capitalism・・・産業資本主義
- in full swing・・・どんどん進んで