Top CEOs, Financialization and the Creation of the Super-Rich Economy’

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Davis, Aeron. 2019. Top CEOs, Financialization and the Creation of the Super-Rich Economy’. Cultural Politics, 15(1), pp. 88-104. ISSN 1743-2197 [Article]

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Official URL: https://doi.org/10.1215/17432197-7289542

Abstract or Description

This piece takes a close look at top CEOs in the UK. CEOs are not only amongst the ranks of today’s super-rich, they have played a vital part in the evolution of an economic system which supports the super-rich generally. As the paper argues, they have done this in two key ways: first, by promoting a set of financialized free-market ideas about managing the economy to news media and policy-makers, and; second, by managing large companies as financial assets for the benefit of financiers and the super-rich. In both ways, they have encouraged financialization and the funnelling of capital away from the real economy and ordinary employees, and upwards towards the super-rich. The paper is based on 30 interviews with top UK business leaders, including 20 FTSE 100 CEOs, as well as other demographic and qualitative data.

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Article

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https://doi.org/10.1215/17432197-7289542