2023
DOI: 10.1177/04866134231167204
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Financialization and Militarization: An Empirical Investigation

Pelin Akçagün-Narin,
Adem Yavuz Elveren

Abstract: Based on Arrighi, we empirically investigate whether financialization and militarization are mutually reinforcing phenomena in the United States. Military spending during the 1950–1960s in the United States counteracted the stagnation of the monopolistic stage of capitalism. Monopoly capital was transformed into finance monopoly capital as the intensity of financial capital increased during the late 1970s in response to stagnation. Considering alternative financialization variables and the profit rate in the f… Show more

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