Abstract:

This study examines the transformation of the structure of capitalism that emerged with financialization. In this direction, the process behind the financial crises is explained. The dynamic structure of the capitalist economic structure has emerged at different stages in the historical process. This dynamic structure is depends on capital accumulation, and capital finally escaped to the field of finance. Financialization is transforming capitalism and changing the form of crises. Thus, crises occur in financial markets. In addition, the duration and impact of financial crises are felt much more deeply. In the study, a Minskyan approach is used to explain financial crises and the reasons behind the instability of stability are emphasized. In particular, the capitalist tendencies behind the crises and the relationship between ideology and economy come to fore. Staying in this context in the study crises and financialization of capitalism, Glass-Steagall Law and Minsky Moment are examined.

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