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The material and culture of financialisation

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  • Ben Fine

Abstract

This paper provides a framework for understanding the material cultures of financialisation. It does so through a tight definition of financialisation itself (as the spread of interest bearing capital across economic and social reproduction) but also attaches financialisation to broader influences through commodification, commodity form and commodity calculation. These in turn are used to frame the material culture(s) of financialisation through deploying the 10Cs derived from the System of Provision approach: that the material cultures of financialisation are Constructed, Construed, Conforming, Commodified, Contextual, Contradictory, Closed, Contested, Collective and Chaotic. Some emphasis is placed upon the ‘distance’ of financialisation as such from most everyday practices and the systemic lack of knowledge of the financial system however it is represented and experienced.

Suggested Citation

  • Ben Fine, 2017. "The material and culture of financialisation," New Political Economy, Taylor & Francis Journals, vol. 22(4), pages 371-382, July.
    • Handle: RePEc:taf:cnpexx:v:22:y:2017:i:4:p:371-382
    DOI: 10.1080/13563467.2017.1259299
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    References listed on IDEAS

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    1. Donald MacKenzie, 2008. "An Engine, Not a Camera: How Financial Models Shape Markets," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633671, April.
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    Cited by:

    1. Ivan D. Kotliarov, 2020. "Digital transformation of the financial industry: The substance and trends," Upravlenets, Ural State University of Economics, vol. 11(3), pages 72-81, July.

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