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Abstract

This paper examines financialisation as a product of class struggle in the pre and post New Deal eras.  It suggests that, without a (class) analysis of changes in the division of labour, explaining financialisation through markets, organisational priorities, or indeed states, misses the essential element to understanding financialisation. It proffers financialisation as a central tendency within capitalism – a tendency which will emerge unless checked by class forces.  It argues the appearance of financialisation in organisations or markets is a symptom of the (re)composition of class forces rather than the result of changes in the practices of markets, states, or managerial/organisational pejoratives: to suggest otherwise, is to mistake cause and effect.