Abstract
This essay identifies and discusses the factors and forces arising from finance that influence peoples’ political participation. It does so at two levels: (1) micro-economic or individual and (2) macro-economic and social. We find that both factors and forces at work are significantly adverse to political participation at all levels. The prime intermediate factor here is economic inequality, which is the subject of a companion essay published earlier.
Highlights
As the last “Great Recession” revealed, financial innovation and game-playing by major financial firms serve to generate both financial instability and greater inequality
The “1%” associated with the largest organizations served to increase their wealth while immiserating millions of Americans
The method here is twofold: (i) Identification of relevant statistics reflecting the distributions of assets, the ways they are invested, and the rates of political participation among classes of people by income and wealth. (ii) Review of statistical analyses of the latter by researchers who have investigated interrelationships www.scholink.org/ojs/index.php/ape
Summary
As the last “Great Recession” revealed, financial innovation and game-playing by major financial firms serve to generate both financial instability and greater inequality. In his 2019 book entitled SHELL GAME: The Story of One Man’s Rant Against the Big Banks in an Attempt to Save the World Economy, M.K. Hoffman reveals that the Recession was sparked by a huge jump in oil prices. 2. Method The method here is twofold: (i) Identification of relevant statistics reflecting the distributions of assets, the ways they are invested, and the rates of political participation among classes of people by income and wealth. Vol 2, No 3, 2019 between and among types of political participation and levels of economic inequality
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