Tag Archives: finance

Financialization as a state project

Financialization is a key feature of neoliberalism. It refers to the capturing impact of financial markets, institutions, actors, instruments and logics on the real economy, households and daily life. Essentially it has significant implications for the broader patterns and functioning of a (inter)national … Continue reading

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Debt is a Product of Power Relations

Debt is a product of power relations which inherently exhibits capturing and dominating mechanisms of subordination, appropriation and exploitation in various societal, political and economic fields. Debt is degrading institutional tool which not merely controls and masters labor in advance, it also self- and socially … Continue reading

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What is financialization? Marxism, Post-Keynesianism and Economic Sociology’s complementary theorizing

The crisis of 2007–9 has cast light on the ascendancy of finance in recent years, a process that is often described as financialization. The concept of financialisation has emerged within Marxist political economy in an effort to relate booming finance to poorly … Continue reading

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Financial economics, or “Would you please elaborate on ‘then something bad happened’?”

“Would you please elaborate on ‘then something bad happened’?”

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Pope Francis against neoliberalism, finance capitalism, consumerism and inequality

In November 2013 Pope Francis issued his first Apostolic Exhortation translated into English as The Joy of the Gospel. Over 224 pages, in remarkably direct and plain,  but plentiful, language, Pope Francis – the first Pope from the Global South – outlines his vision on … Continue reading

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James Tobin on ‘paper economy’ and short-sighted speculation-generating financial instruments

Nobel laureate in Economic Sciences James Tobin at the conclusions in his (open access) “On the Efficiency of the Financial System” paper: “We are throwing more and more of our resources, including the cream of our youth, into financial activities remote … Continue reading

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“Debt: Ethics, the Environment and the Economy”: the concept of indebtedness in its various senses and perspectives

From personal ‪‎finance‬ and consumer spending to ballooning national expenditures on warfare and social ‪welfare‬, debt is fundamental to the dynamics of global capitalism. This timely and broad volume, adited by Peter Y. Paik and Merry Wiesner-Hanks (University of Wisconsin-Milwaukee), … Continue reading

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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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From Mark Twain’s observation on October stock market to Randy Martin’s on financialization of daily life

We are in mid-October, stock exchange indexes are falling and economic journalists are shouting and wondering: is the next October stock market crash approaching? That’s a good occasion to recall a good old Mark Twain’s observation: “October: This is one of the peculiarly … Continue reading

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Scots, Save the Finance Capitalism!

It is fascinating to observe how the knights of the Neoliberal Globalism: economists (mainstream, sort of critical towards mainstream and those who sought repentance such as Jeffrey Sachs), the business elite, the nowadays’ robber barons, and their couriers in the … Continue reading

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