ABSTRACT
The global financial crisis of 2008 alerted the non-financial world to practices long-accepted within the industry but not previously examined by outsiders, raising popular concerns over principal–agent conflicts, false incentives given by regulation to financial behaviour, executive compensation, or breaches of assumed duties of fairness or disclosure that had never earlier been questioned. No industry is democratic, but the reaction to the crisis was the first mainstream questioning of global financialization to have occurred since it began in the mid-1970s.
