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  1. 1 Ekonomista

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  1. 1 Zyzynski J.

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  1. 1 2006

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Financial System and the Real Economy: Between Ancillary Functions and Alienation

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Zyzynski J.
Ekonomista
|
2006
|
issue 4
527-549
EN
The relation between the financial sector and the real economy constitutes the decisive factor that governs the way savings and investments create new physical assets and work opportunities. It is shown how the split of savings flow into primary market investments, allocations into secondary markets and to purchases of privatized companies leads to sui generis waste of savings. The author develops the thoughts contained in the book by J. Toporowski (Theories of Financial Disturbance) that had recently been published by Edward Elgar. He reviews, in direct reference to mutual interrelationships between the financial sector and the real economy, the progress made by economic theory since the classics until the recent works by economists of the end of the 20th century. The discussion of the Toporowski's theory of capital market inflation ends the article.
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