1/ How to explain financialization as a systemic transformation of the capitalist way of production and life?

 The increasingly financial nature of capitalism is reflected in the growing importance of financial markets, motives, institutions and elites in the workings of the economy and in national and international centres of power.

This is the end result of a process of financial deregulation, which started in the 1970s, when the Bretton Woods system collapsed, and gathered momentum in the 1980s when all controls on movements of capital were lifted. Deregulation of financial systems and free movement of assets has brought about a new form of financial capital which has gradually achieved a predominant position in the global economy. It may be referred to as global finance. The aim of financial deregulation is to strengthen the position of financial markets – in which global-finance agents enjoy a dominant position – for collecting savings and funding investment. More