Financialization has been described as making money by financal transactions (commercial or investment banking, insurance services or speculating in various markets) rather than by making or selling goods that people want. Vertically the chart above indicates percentage of total economic activity (Gross Domestic Product), and horizontally is the year.
Satyajit Das writes:
History is a sequence of 'ations' – civilization, urbanization, globalization; interspersed with actual or threatened annihilation (war...). The most recent "ation" is financialization – the conversion of everything into monetary form (known as another "ation" – monetization).
Satyajit Das's book Extreme Money.