THE POST-2008 GEOECONOMY: FINANCIALIZATION, TECHNOLOGY AND GEOPOLITICS

Abstract

The article aims to discuss the causes and geopolitical consequences of the 2008 crisis, based on the theory of business cycles. It is argued that there are three major processes to explain the crisis in a deeper view: fi nancialization, the technologic and industrial issue and global geopolitics. The policies adopted by the central countries since the 1970s led to the priority of financial capital, causing stagnation of radical innovations and deindustrialization in the central countries, with industrial growth in East Asia. The deregulation and internationalization of capital in the 1990s led to numerous financial crises, culminating in the 2008 crisis. Subsequently, the central countries increased the pressure on the peripheral countries, seeking new fields of investment and the maintenance of hegemony. The persistence of the crisis has generated a search for radical innovations that open new sectors for investment.