Catalogue Search | MBRL
Are you sure you want to remove the book from the shelf?
{{itemTitle}}
814
result(s) for
"financialization"
Sort by:
The rise of finance : causes, consequences and cures
\"This book examines the rise of financialization globally while charting its drawbacks and prescribing suggestions for a definitive overhaul of the structure. Bringing together various strands of the latest research and evidence generated in recent years, empirical analysis, and views of reputed experts in the field, it presents a counterpoint to the canonical frameworks of analysing financial market dynamics and financial globalization. It proposes a revision of the current monetary policy paradigm to correct its excessive focus on equity markets and their 'wealth effect', embrace a more symmetric response to the economic\"-- Provided by publisher.
Book
Financialization of Eldercare in a Nordic Welfare State
The increasing presence of for-profit service providers in publicly-funded eldercare has transformed care in Nordic welfare states which have a strong tradition of public care provision. Macro-level research on care policies has mainly focused on public institutions, national policies, and marketization. The financialization of eldercare has not received much scholarly attention, and existing studies mostly focus on the UK. The financialization of eldercare refers to the ways in which care is both a site of profit extraction and financial engineering. The Nordic system is relatively universal, and, with rapidly ageing demographics, there is a secured demand for eldercare services. However, these services have been heavily marketized over the past two decades, opening up lucrative possibilities for financialized actors who have established a stronghold over the markets. We analyse these processes through selected empirical examples from Finland, and argue that the financialization of eldercare in the Nordic context demands attention as we are witnessing a new configuration between the constitutional order of the welfare state, public finances, and private profit which is neither transparent, nor democratic.
Journal Article
Finance becoming (tech) in socio-technical interaction orders: The case of digital everyday financial practices
Discussing recent literature on online financial practices, this article argues that ‘finance becoming tech’ assumes the form of particular financial situations in the everyday, to be understood in terms of Erving Goffman’s concept of interaction order . While the interactionist strand in the social study of finance foregrounds the role of techno-social situations in the constitution of finance, this article suggests applying Goffman’s notion of the ‘interaction order’ to that debate and demonstrates the latter’s capability to reconstruct the techno-social mechanisms through which finance emerges in the everyday. Unlike the notion of ‘situation’, that of ‘interaction order’ addresses the constitution of situational boundaries through interactional procedures as they refer only partially and selectively to circumstances of their social contexts. Against this background, online financial practices are analytically contoured as techno-social situations that enable the emergence of finance as a matter of the everyday. It is argued that the enabling condition for this commingling of everyday and financial processes is a specific delimitation of the digital-financial interaction order from parts of its political economic context – in particular, the uncertainty that structurally characterizes the financial economy.
Journal Article
Stolen : how to save the world from financialisation
A must-read polemic about why the 'recovery' from the 2007-08 crash mostly benefited the 1%, and how democratic socialism can save us from a new crash and climate catastrophe. For decades, it has been easier to imagine the end of the world than the end of capitalism. In the decade leading up to the 2008 financial crisis, booming banks, rising house prices and cheap consumer goods propped up living standards in the rich world. Thirty years of rocketing debt and financial wizardry had masked the deep underlying fragility of finance-led growth, and in 2008 we were forced to pay up. The decade since has witnessed all kinds of morbid symptoms, as all around the rich world, wages and productivity are stagnant, inequality is rising, and ecological systems are collapsing. Stolen is a history of finance-led growth and a guide as to how we might escape it. We've sat back as financial capitalism has stolen our economies, our environment and even the future itself. Now, we have an opportunity to change course. What happens next is up to us.
Book
Financializing Detroit
Taking as its focus the not-so-special case of Detroit, which recently experienced the largest municipal bankruptcy in US history, this article explores the financialization of American urban governance in both conceptual and concrete terms. The financially mediated restructuring of Detroit, through the imposition of emergency management by the state of Michigan and subsequently through the federal bankruptcy code, has been portrayed as an extreme event, with deep roots in histories of deindustrialization, racial exclusion, and suburban flight. It is not to downplay the significance of this experience to suggest, however, that the Detroit case also represents an ordinary crisis of a faltering regime of financialized urbanism. Compounding a shift toward entrepreneurial urban governance, cities now find themselves in an operating environment that has been constitutively financialized. Bondholder-value disciplines have become systemic in reach, along with an amplified role for financial gatekeepers like credit rating agencies; technocratic forms of financial management have been spreading and deepening, both in supposedly normal times and under externally imposed emergency measures; and in some cities the routinized play of growth-machine politics is being eclipsed by a new generation of debt-machine dynamics. While the ultimate focus of this article is on Detroit, its chief concern is with the framing of the city's storied financial crisis-theoretically and then institutionally.
Journal Article
Financializacija gospodarstev in doseganje pametne, trajnostne in vključujoče rasti
Since the 1980s, economies have been under the influence of the process of financialization, i.e., the role of financial motives, financial markets, and institutions (DOSI et al., 2016). These processes can affect firm innovation and growth through several mechanisms, one of which is executive compensation.
Journal Article
World cities under conditions of financialized globalization
This paper interrogates the enduring yet changing role of world cities as centers of capitalist ‘command and control’ amidst deepening uneven development. By incorporating financialization processes in Friedmann’s (1986) world city hypothesis, we hypothesize that the world city archipelago remains an obligatory passage point for the relatively assured realization of capital. The advanced producer services complex appropriates superprofits as producers of co-constitutive knowledge on operational and financial firm restructuring, the creation of new circuits of value, and capital switching. Geographically, beyond the international financial center shortlist, the wider world city archipelago inserts finance capital (logics) in contemporary economies and societies.
Journal Article
Capitalism cheats: Three moments of normalized swindling
In a financialized world where we are all conscripted to be competitive players, the category of cheating takes on new political and cultural potency and has become key to reactionary ideology. This speculative essay moves beyond the conventional framing of cheating as the exceptional malfeasance of bad economic actors, as well as beyond the claim that capitalism’s drive to profit encourages dishonesty and manipulation (thought that is indeed true). Rather, it proposes we recognize cheating at capitalism’s ideological and operational core, not its periphery. By examining imperialism’s ‘Great Game’, the links between game theory and neoliberalism, and the role of recursive rule-breaking in the history of finance, we can triangulate the normalization of cheating within the dominant economic paradigm. This essay approaches cheating as a discursive formation entangled with financial power. Such an approach can help us recognize some elements of the rise of reactionary, far-right, and fascistic sentiment and politics today. These in many cases revolve around a rhetoric of cheating that misrecognizes the culprits, targeting poor and precarious minorities rather than those at the commanding heights of the economy.
Journal Article
Summoning the digital investor: Fintech apps and the shaping of everyday financial subjectivities
With fintech investment apps providing convenience and round-the-clock access to financial markets on the go, investors are becoming more active in managing their financial lives through smartphones and other mobile devices. However, fintech investing’s role in the financialization of everyday life remains unclear. Combining insights from Foucauldian governmentality and Science and Technology Studies (STS), this article positions fintech brokerage apps as both neoliberal tools in governing investor conduct and as agencements in reconfiguring financial subjectivities. Based on a survey and interviews with lay investors in Singapore, the findings reveal that fintech investors use app-based brokerages as a tool to invest conveniently and at low cost. However, users themselves may resist the financial subjectivities promoted by fintech investing, driven by skepticism towards gamified and other algorithmic app features. They are also motivated by feelings of uncertainty towards fledgling fintech startups and difficulties in their interactions with the app user interface. To mitigate uncertainty, investors adopt various tactics to protect their portfolios.
Journal Article