# What would a de-financialized economy look like?

**URL:** <https://boards.straightdope.com/t/what-would-a-de-financialized-economy-look-like/1012815>\
**Category:** In My Humble Opinion\
**Created:** [January 10, 2025, 7:40pm UTC](https://boards.straightdope.com/t/what-would-a-de-financialized-economy-look-like/1012815 "2025-01-10T19:40:09Z")\
**Posts on this page:** 4\
**Page:** 4

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**Author:** ![Crane](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/crane/32/3495_2.png) [@Crane](https://boards.straightdope.com/u/Crane)\
**Post date:** [January 13, 2025, 5:53pm UTC](https://boards.straightdope.com/t/what-would-a-de-financialized-economy-look-like/1012815/61 "2025-01-13T17:53:23Z")

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> [@Babale](#):
>
> If it’s a single regime, or even a small handful, the rest of the world can sanction them into oblivion.

The utopian manifesto.

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**Author:** ![hibernicus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hibernicus/32/2802_2.png) [@hibernicus](https://boards.straightdope.com/u/hibernicus)\
**Post date:** [January 13, 2025, 9:44pm UTC](https://boards.straightdope.com/t/what-would-a-de-financialized-economy-look-like/1012815/62 "2025-01-13T21:44:15Z")

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> [@LSLGuy](#):
>
> As long as there is a single kleptocratic or deeply corrupt regime on Earth, we won’t get there.

Kleptocratic or deeply corrupt regimes aren’t really the problem, because you don’t necessarily want to do business or stash your wealth in a place where you can’t rely on the rule of law to protect your investment. The issue is competition between developed countries to attract business or capital investment through lower regulation or lower tax, resulting in a race to the bottom.

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**Author:** ![Chad\_Sudan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chad_sudan/32/4509_2.png) [@Chad\_Sudan](https://boards.straightdope.com/u/Chad_Sudan)\
**Post date:** [January 14, 2025, 3:22pm UTC](https://boards.straightdope.com/t/what-would-a-de-financialized-economy-look-like/1012815/63 "2025-01-14T15:22:53Z")

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I found an [academic paper](https://scholarship.law.unc.edu/cgi/viewcontent.cgi?article=1365&context=ncbi) online that tries to identify the effects of the post-1980 phenomenon of financialization.

“Financialization of the non-finance sector has led to lower employment, income transfers to executives and capital owners, and increased inequality among workers.”

Elsewhere, the same authors ask:  
[What if that financialization had never happened?](https://www.jstor.org/stable/10.1086/669499)

“Our counterfactual analysis suggests that financialization could account for more than half of the decline in labor’s share of income, 9.6% of the growth in officers’ share of compensation, and 10.2% of the growth in earnings dispersion between 1970 and 2008.”

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**Author:** ![OldOlds](https://avatars.discourse-cdn.com/v4/letter/o/a3d4f5/32.png) [@OldOlds](https://boards.straightdope.com/u/OldOlds)\
**Post date:** [January 15, 2025, 3:11pm UTC](https://boards.straightdope.com/t/what-would-a-de-financialized-economy-look-like/1012815/64 "2025-01-15T15:11:32Z")

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> [@Dewey\_Finn](#):
>
> Janet Yellen _tried_ to implement a global minimum 15% corporate tax rate. Republicans in Congress did not approve it.

Which blows my mind, really. Let’s have a race to the bottom! It will be great!

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