The FIRE Economy: New Zealand’s Reckoning - By Jane Kelsey

The global economy imploded in 2008 and confirmed a stark reality. Entire nations and billions of people are captives of an unstable and amoral economic system powered by finance, insurance and real estate New Zealand included.

‘The FIRE economy’ is a metaphor for the fundamental shift in global capitalism since the 1970s. Finance has replaced industry as the driver of wealth creation in affluent countries – a transformation known as financialisation. Neoliberal ideology, rules and institutions acted first as the midwife and then as the guardian of this new economic order.
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