Compared with Karl Polanyi’s first Great Transformation, the emergence of the even more influential financial capitalism can be called the second Great Transformation. The global expansion of financial capitalism has extended its power beyond the remit of nation-states as governments, firms, families and individuals are increasingly guided and reshaped by financial markets, producing a trend toward the financialization of social life. An important social consequence is the ever more marked separation of financial markets from society, a separation that has gradually eroded the power of the state, trade unions and civil society and aggravated the employment crises, the polarization of rich and poor and the structural inequality of developed capitalist countries. In the face of society’s erosion by financial capital, the West has taken measures of social self-protection, but these have so far had little effect. To establish a new financial and market governance structure at the global level that will effectively cope with the negative impact of financial capitalism is a long and arduous task.

与卡尔·波拉尼的第一次大变革相比，更具影响力的金融资本主义的出现可以称为第二次大变革。随着政府，公司，家庭和个人越来越多地受到金融市场的引导和重塑，金融资本主义的全球扩张已将其力量扩展到民族国家之外，从而产生了向社会生活金融化的趋势。一个重要的社会后果是，金融市场与社会的分离越来越明显，这种分离逐渐侵蚀了国家，工会和公民社会的力量，加剧了就业危机，贫富分化和结构性不平等。发达的资本主义国家。面对社会受到金融资本的侵蚀，西方已经采取了社会自我保护措施，但这些措施迄今收效甚微。在全球范围内建立一种新的金融和市场治理结构，以有效应对金融资本主义的负面影响，是一项长期而艰巨的任务。