The Rise of Money Manager Capitalism and Its Implications for Economic Theory and Policy

Abstract

Since the 1970s, corporate governance in the United States has become increasingly beholden to Wall Street. This trend is so prominent that the resulting formation is increasingly known as money manager capitalism. This article explores some of the reasons behind this change, and its implications for the American economy.

Keywords:

• money manager capitalism
• financialization
• instability
• predation