via Japan SPOTLIGHT I by Ulrike Schaede I May/June 2021

Toward a System of Balanced Capitalism – Can Japan Avoid the Dangers of “Financialization”?

“…What Went Wrong in the US: the Phenomenon of Financialization

The above problems are all seen as associated with the ongoing trend toward large firm value extraction, as opposed to value creation. These terms were coined by William Lazonick, author of
Sustainable Prosperity in the New Economy (2009), and Predatory Value Extraction (2020, with Jang-Sup Shin). They claim that value extraction is caused by an excessive adherence to the MSV view above all other societal interests…”

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