New X Poll: Who Said It—a Socialist or a Natcon?

Norbert Michel

In recent years, national conservatives (natcons) have complained that a blind adherence to free‐​market philosophy has hollowed out the middle class and all but ruined America. To criticize financial markets, they adopted a term from decades past: financialization. According to proponents of financialization, many of whom are self‐​declared socialists, financialization represents some kind of overreliance on financial markets, resulting in too many resources being diverted from investments in the “real” economy.