Introduction: the 2008 crisis : tragedy or farce? -- The death of capital -- Capital ideas -- Empty promises -- Financialization -- From innovators to undertakers -- Welcome to Jurassic Park -- The road to hell -- Finance after Armageddon -- Conclusion: "This is later."
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In The Death of Capital, respected portfolio manager and longtime investment professional Michael Lewitt looks at how the U.S. economy has increasingly been dominated by short-term speculation rather than industrial expansion in recent years. These disastrous trends, described here as financialization, ignore the fact that capital itself is a highly unstable process rather than a fixed object or category. As a result of our failure to understand the true nature of capital, we have developed a financial and regulatory system that does exactly the opposite of what it should be doing.