O fim do capitalismo dos bancos de investimento? Uma geografia econômica do emprego e do poder financeiro
Resumo
Este artigo investiga os padrões de emprego, remuneração e relações de poder no setor financeiro dos EUA entre 1978 e 2008 e demonstra que os bancos de investimento têm tido um papel central na indústria da securitização, que foi até aqui o segmento do setor financeiro estadunidense que se expandiu e contribuiu significativamente para a crescente desigualdade de renda. O poder dos bancos de investimento aumentou nos últimos 30 anos como consequência da crescente demanda por serviços de investimento, de mudanças tecnológicas, da desregulamentação e da globalização. Os bancos de investimento estão no centro do chamado shadow banking system, inventando muitos dos produtos usados por ele e muitas vezes dissimulando seu funcionamento e, assim, concorrendo decisivamente para a crise financeira global de 2007-2009. Com os principais bancos de investimento dos EUA convertidos em holdingse devido a uma possível re-regulação financeira, o futuro desses bancos é incerto. Seu relacionamento com fundos soberanos também implica incerteza, envolvendo tanto oportunidades quanto desafios. Este artigo identifica a geografia econômica dos bancos de investimento como uma das chaves para compreender a dinâmica da economia mundial contemporânea, numa abordagem de mesonível da geografia das finanças.
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