Matthias Schmelzer is a professor of social-ecological transformation at the University of Flensburg and director of the Norbert Elias Center for Transformation Design & Research. He is the author of The Hegemony of Growth: The OECD and the Making of the Growth Paradigm.

06.29.2025

• Matthias Schmelzer

Financial Capitalism Is More Dangerous Than Ever Today

The crash of 2008 was supposed to augur the end of ultraspeculative financial capitalism. But financial actors have actually gone from strength to strength since then, and fictitious capital is a bigger menace to global economic stability than ever.