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Resocializing Finance? Or Dressing It In Mufti?

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  • Bill Maurer

Abstract

Critical accounts of the financialization of the world economy decry the depersonalization and abstraction effected by finance in the service of extraction, expropriation and dispossession. Analysts and activists alike seek to re-socialize finance so that those whose interests it serves can be identified and so that new, socially embedded forms of exchange can emerge. They also seek to re-ground finance in a ‘real’, presumably material and social, fabric so that its excesses can be tamed and the sources of value made apparent. My essay questions these paired critiques and their supposed aims. It will argue that the continual attempt to reassert the social in economy points to a limit to the critical imagination, and that the critique of calculative rationality misses some of the other functions and practical effects of numbers besides commensuration and abstraction.

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  • Bill Maurer, 2008. "Resocializing Finance? Or Dressing It In Mufti?," Journal of Cultural Economy, Taylor & Francis Journals, vol. 1(1), pages 65-78, March.
    • Handle: RePEc:taf:jculte:v:1:y:2008:i:1:p:65-78
    DOI: 10.1080/17530350801913668
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    Cited by:

    1. Lena Rethel, 2018. "Capital market development in Southeast Asia: From speculative crisis to spectacles of financialization," Economic Anthropology, Wiley Blackwell, vol. 5(2), pages 185-197, June.
    2. Lauren Tooker & Bill Maurer, 2016. "The pragmatics of payment: adventures in first-person economy with Bill Maurer," Journal of Cultural Economy, Taylor & Francis Journals, vol. 9(3), pages 337-345, June.
    3. Dev Narayan Sarkar & Kaushik Kundu, 2018. "The overlap spaces of alternative economy and subaltern businesses: a study of emigrant peddlers," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 7(1), pages 1-24, December.
    4. Dev Narayan Sarkar & Kaushik Kundu, 2020. "Conceptual Expansion and Approaches to the Concept of Alternative Economy," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 12(3), pages 257-282, September.

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