Globalizzazione finanziaria e ruolo dello Stato. A partire dal libro di Giuseppe Di Gaspare

The paper aims to analyze, starting from the new book by Professor Di Gaspare, such as the shape of the market in its initial configuration is essentially the result of a political decision originally. Financial globalization present result is in fact the decision of U.S. President Nixon in 1971 to repeal the Bretton Woods Agreements, passing in this way by a political regulation of the monetary base currency to a financial settlement on the basis of market and freeing capital movements from any restriction. Subsequently, however, the complexity of modernity caused by the advent of technology that has broken down any border space-time, has often constituted the accelerator of deliverance of the market from a concrete possibility of adjusting its effective legal basis, as is demonstrated by the case of derivatives. In many cases, the fast dynamics of the market makes it particularly difficult legal regulation of the phenomenon, not being able to be “tamed” by regulatory intervention. From the point of view of economic public law, therefore, there is the belief that the financial market crisis that began in 2007 will necessarily be reflected in rapid changes of the legal processes of political system,in a symmetrical manner with the changes that have occurred with the globalization in the sphere of economics, resulting in a new role of the State.