Analogies and differences in the evolution of finance in history

Abstract

The current phase of capitalism's evolution is characterized by the primacy and importance of money and finances.  However, money and finances have played a relevant role throughout history.  This paper attempts to analyze the recurring similarities of speculation, financial crisis and the financialization of economic activity, yet these are studied on the basis of their differing elements of the current phase with previous ones.  The nature of the current crisis shows similarities and differences ith others and has come to have its own determinant characteristics.  The responsibility of finances in the unleashing of the crisis that began in 2007 is the central objective of this article, along with th model of development that has been imposed since the 1980s.