The financialization of economics increases the dominance of the finance sector

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- Confusion of economics: Dhawal Mehta

- Capitalist society has commercialized human relationships

Differences between Commercialization and Financialism:

Capitalist society has commercialized human relationships. This society turned the mutual relations of love, friendship or affection into financial advantages or disadvantages. The belief that some relationships benefit you financially and others are a waste of time arose after the rise of capitalism (during the Industrial Revolution of 1760 AD). According to one view, all models of economics are built on unrealistic assumptions, but one of their advantages is that they point economists in the direction of economic truths. In feudal society before capitalism commercialized human relations, traditional respect was accorded to a person based on his birth (king, feudal) positions, in India it is given on the basis of caste hierarchy. Some caste people or their welfare organizations claim that our caste people must get priority to be a certain number of MLAs. The head of our caste should become the chief minister of the state which indicates the moral degradation of the entire nation. Other castes should not think that there is any fault of ours or the members of the same caste considered high have the right before the government for the post of minister or prime minister or to become MLA or to be considered as OBC. We do not get a share in political power because our caste does not have enough numbers or the people of our caste do not have wealth? If Patidar makes such a claim, what is wrong with the townspeople who consider Hatkesh as Ishtadev? What is wrong with rich brahmins? What is wrong with Brahmakshatriyas?

Neoliberalism:

While capitalism commercializes relationships, a more extreme form of capitalism, neoliberalism, financializes economics. Commercialization of human relations and financialization of economics are two different concepts. The reason for the above discussion is that caste plays an important role in India's economy and politics. While in the West the driving force of economics is its class.

Financialization:

Financialization of economics leads to the dominance of the financial sector in a country's economy. It distorts the real economy (in which goods and services are produced) of the country. It makes independent countries debtors to rich countries. E.g. Sri Lanka became so indebted to China that it had to hand over the management of one of its strategic ports to the Chinese government. You no longer need to conquer and colonize a country by force of military might to make it your slave. Give the country you want to dominate more money than it needs. Put that country in your debt and if the country can't pay your debts, seize its ports or force it to reserve some part of the country for your army.

Many of the world's governments currently operate under enormous debt (domestic and foreign debt). In short, the Industrial Age was preceded by the Commercial Revolution, which created such large foreign markets that it made the Industrial Revolution possible.

In short, the colonialism of the western world manifests itself through the colonialism of caste in India. Caste colonialism has limited social mobility in India especially upward social mobility.

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