Tag Archives: banking

Créditez-vous français? Credit as a relationship and a practice

I’m subscribed to “Gdr-economie-sociologie” – an academic mailing list of French and French-speaking economic sociologists and political economists. Receiving through this list announcements about new interesting and enlightening books and articles (in French), intellectually inviting conferences and seminars (conducted in French, … Continue reading

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The Art of Banking: a joke (i.e. an insight) from Wall Street

An old Wall Street joke tells about a junior financial journalist that naively asked the manager of investment banking division: Why customers keep buying mutual and provident funds despite their scant profits and low yields. The senior financier amusedly looked at … Continue reading

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What is money? Who makes it? Can we understand the current state of the economy as a crisis of money itself?

The latest economic collapse has incited substantial conversation about debt, financialization, and the commodification of everyday life. But what exactly is money? Making Money: The Philosophy of Crisis Capitalism turns the questions raised in the title into a matter of … Continue reading

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Those carefree holidays…

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The history of money and its “devine” metamorphosis in the 20th century

Professor Jack Weatherford, a renowned cultural anthropologist: “In the 20th century, we saw money turn rapidly from paper into plastic and then into mere electronic blips generated in computers, transferred over telephone lines and through computer terminals, and without any corporal … Continue reading

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“Classification Situations: Life-chances in the Neoliberal Era” proposes to revisit class analysis through the prism of techno-social changes represented by the advent of market devices

A very interesting research “Classification Situations: Life-chances in the Neoliberal Era” by Marion Fourcade & Kieran Healy examines the stratifying effects of economic classifications. They argue that in the neoliberal era market institutions increasingly use actuarial techniques to split and … Continue reading

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Hyman ‪‎Minsky‬: “Today’s narrowly focused financiers do not conform to ‪‎Schumpeter‬’s vision of ‪‎bankers‬ as the ephors of ‪‎capitalism…”

Hyman ‪‎Minsky‬: “Today’s narrowly focused financiers do not conform to ‪‎Schumpeter‬’s vision of ‪‎bankers‬ as the ephors of ‪‎capitalism‬ who assure that ‪‎finance‬ serves progress. Today’s financial structure is more akin to ‪‎Keynes‬’ characterisation of the financial arrangements of advanced … Continue reading

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“Banks and the False Dichotomy in the Comparative Political Economy of Finance” challenges the conventional understanding of bank-based financial system

The wide-ranging varieties of capitalism literature rests on a particular conception of banks and banking that, the authors argue, no longer reflects the reality of modern financial systems. Iain Hardie, David Howarth, Sylvia Maxfield and Amy Verdun take advantage of the greater … Continue reading

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A ‪joke‬ from Mario Draghi, the President of the European Central Bank ;-)

A man needs a heart transplant. Says the doctor: “I can give you the heart of a five-year old boy.” “Too young.”“How about that of a forty-year old investment banker?”“They don’t have a heart.”“A seventy-five year old central banker?” “I’ll take it!”“But … Continue reading

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“Modern Politics as a Trust Scheme and Its Relevance to Modern Banking” demonstrates that modern banking and politics are mirror images of each other

The trust is largely absent in the classical writings of Karl Marx and Max Weber on the origins and nature of capitalism. Jongchul Kim demonstrates in this excellent essay (that was awarded the Article of the Year by Journal of … Continue reading

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