Susan Strange (1997), the late but legendary figure in the development of international political economy, coined the term "casino capitalism" in 1987 to describe the then-new changes in government and supra-national policy that would, in time, come to be known as neoliberal deregulation. For Strange, the coordinated and sustained ideological and political attack on Keynesian financial regulation threatened to unleash a Pandora's box of speculative gambling, fraud and malfeasance, hot money and, as a result, political and economic instability. … Strange's neologism sought to dramatize the impact of these changes by collapsing what Marieke de Goede (2005) has shown to be a central tension in the development of finance since the Early Modern period: the distinction between investment and gambling. … De Goede has demonstrated that central to the legitimacy of stock markets, investment banks, and other financial firms and practices has been a discourse that makes a (largely artificial but highly functional) separation between games of chance, which see the virtueless gambler subordinate himself to fortune's whims, and the quasi-science of finance, wherein the prudent and discerning investor applies reason and skill to taming and dominating fortune (see also Aitken 2014).

Max Haiven, Cultures of Financialization, loc. 327