Susan Strange's Casino Capitalism Thesis and Today's Economy
The 1986 work of Susan Strange, a prominent figure in international political economy, is being reassessed in light of today's speculative financial dynamics.
The Casino Capitalism thesis published in 1986 by Susan Strange, one of the founding figures of international political economy, is being examined in light of contemporary financial speculations and crises.
Transformation of the Financial System
In her 1986 work, Susan Strange argued that the global financial system had disconnected from production and transformed into a speculative structure. With the weakening of financial regulatory mechanisms, international capital movements became liberalized.
States losing control over financial markets has led to the world economy acquiring an unstable structure.
Detachment from the Real Economy
The foundation of the Casino Capitalism thesis is formed by financial markets growing faster than the real economy. The financial sector, which should meet the needs of production and trade, has in time become the master of the economy.
Major financial crises and fluctuations experienced in the past have clearly demonstrated the accuracy of Strange's predictions.
Today's Geoeconomic Dynamics
Today's political economy structure is shaped not only by financial liberalization, but also by elements such as geopolitical competition, technological sovereignty, and economic security.
Trade wars, digital assets, and cryptocurrency markets are among the main components of the new phase that global capitalism is undergoing.