Since the late 1970s,one of the most significant transformations in the capitalist economic system has been financialization,characterized by a shift in the locus of capital accumulation,an enhancement of the status of financial markets,and the growth of the financial sector.The ramifications of financialization reach outside the economic sphere,eventually permeating every aspect of social life within the context of financial capital activities.The confluence of overwhelming monopoly accumulation of capital,neoliberal deregulation,and advancements in information technology has led to the transition of the capitalist economy into a financialized economy,resulting in the financialization of daily life.The process of financialization has enabled surplus capital to extract surplus value and mitigated the surplus accumulation dilemma of monopoly capital to some degree;yet,it ended up resulting in stagnation of the real economy and frequent financial crises.Marx's critique of capital and ideology reveals that the essence of daily life financialization is the intensification of exploitation and the formation of micro-financial subjects that are subtly manipulated.The financialization of daily life fails to address the intrinsic conflicts of capitalism;instead,it perpetuates and intensifies them.
daily lifefinancializationmicrofinance subjectsinvestor society