Financial Times FT.com

Financialisation genie set loose

By John Authers

Published: October 7 2009 17:34 | Last updated: October 7 2009 17:47

Not long ago, there were three asset classes: stocks, bonds and cash. Some were not even sure if cash counted as an asset class.

The last few decades, however, have seen the “financialisation” of swathes of the world economy where prices were not previously set by markets, or at least not by markets led by the same investors who also set the prices of stocks and bonds.

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