Mandate Trade Union Training- Ireland and Finance (Sept 2014)
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The document discusses how capitalism has changed over the past 25 years with capital becoming more geographically mobile. Finance has gradually become a driving force for economic growth rather than just assisting capital accumulation, as speculative finance emerged as a secondary engine of growth to make up for weaknesses in traditional productive industries. It also notes how people have become less enthusiastic about stock market gains as they have learned more about how recoveries and rallies often just involve elites transferring money among themselves rather than benefiting the wider economy or population.
![[Lehman collapse, 15 September 2008 - headlines 16 Sep 2008]](https://image.slidesharecdn.com/mandate-sep14-140909031355-phpapp01/85/Mandate-Trade-Union-Training-Ireland-and-Finance-Sept-2014-7-320.jpg)
![Rather than being a
modest helper to the
capital accumulation
process, [finance]
gradually turned into a
driving force.
Speculative finance
became a kind of
secondary engine for
growth given the
weakness in the primary
engine, productive](https://image.slidesharecdn.com/mandate-sep14-140909031355-phpapp01/85/Mandate-Trade-Union-Training-Ireland-and-Finance-Sept-2014-27-320.jpg)
Mandate Trade Union Training- Ireland and Finance (Sept 2014)
- 1. Ireland and Finance Mandate Training 9 Sept 2014 Dr. Conor McCabe UCD School of Social Justice
- 5. DREAM…
- 6. INNOVATION
- 7. [Lehman collapse, 15 September 2008 - headlines 16 Sep 2008]
- 26. Over the last quarter of a century something fundamental seems to have changed in the way in which capitalism works. The tendency since 1970 has been towards greater geographical mobility of capital.
- 27. Rather than being a modest helper to the capital accumulation process, [finance] gradually turned into a driving force. Speculative finance became a kind of secondary engine for growth given the weakness in the primary engine, productive
- 36. “Part of the reason people get less giddy about the Dow than they did five years ago is that they have learnt a bit about inequality. what looks like a recovery, a rally or an increase in consumer confidence may just be the effect of elites passing money among themselves.“ Christopher Caldwell, FT 9 March 2013
- 60. One company – 200 employees One employee– 200 companies