Comment by paganel

More generally, the financialization of the US economy (and of the Western economy more generally speaking) has a big part of the blame in this.

Yes, more evolved financial markets provided easier access capital, but, as it so happens in those types of situations, access to capital and enjoyment of said (liquid/financial) capital became a target in itself, the rest of society didn't matter. In fact, the whole (Western) society was moulded around (liquid/financial) capital, it became its raison d'être.