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But I would argue that the financial system and the process of financialization of the economy, while contributing mightily to the wealth accumulation of the already wealthy, and while embraced by them for that reason, also tends to make the system unstable, as the further "progress" of financialization requires the dismantling of regulatory regimes that protect the stability of the system.  

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue May 10th, 2011 at 12:03:06 PM EST
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