The Routledge International Handbook of Financialization
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Book Description
Financialization has become the go-to term for scholars grappling with the growth of finance. This Handbook offers the first comprehensive survey of the scholarship on financialization, connecting finance with changes in politics, technology, culture, society and the economy.
It takes stock of the diverse avenues of research that comprise financialization studies and the contributions they have made to understanding the changes in contemporary societies driven by the rise of finance. The chapters chart the field’s evolution from research describing and critiquing the manifestations of financialization towards scholarship that pinpoints the driving forces, mechanisms and boundaries of financialization.
Written for researchers and students not only in economics but from across the social sciences and the humanities, this book offers a decidedly global and pluri-disciplinary view on financialization for those who are looking to understand the changing face of finance and its consequences.
Table of Contents
TABLE OF CONTENTS
- Financialization: An Introduction
- The Value of Financialization and the Financialization of Value
- Entrepreneurship, Finance and Social Stratification. The Socio-Economic Background of Financialization
- Shareholder Primacy and Corporate Financialization
- Financialization, Money and the State
- The Financialization of Life
Paul Langley - Financialization as a Socio-technical Process
- The Anthropological Study of Financialization
- How Financialization is Reproduced Politically
- Feminist and Gender Studies Approaches to Financialization
- Financialization in Heterodox Economics
- Financialization and the Uses of History
- Financialization and Demand Regimes in Advanced Economies
- Economic Development and Variegated Financialization in Emerging Economies
- Subordinate Financialization in Emerging Capitalist Economies
- Financialization and State Transformations
- The Financialization of Real Estate
- Financialization and the Environmental Frontier
Sarah Bracking - Offshore Finance
- Central Banking, Shadow Banking, and Infrastructural Power
- Securities Exchanges: Subjects and Agents of Financialization
- The Rise of Institutional Investors
Jan Fichtner - Trusts and Financialization
- Impact Investing, Social Enterprise and Global Development
- Micro-credit and the Financialization of Low-Income Households
- The Collateralization of Social Policy by Financial Markets in the Global South
- Essay Forum: Labor in Financialization
- Culture and Financialization: Four Approaches
- The Calculative and Regulatory Consequences of Risk Management
- ‘A Machine for Living’: The Cultural Economy of Financial Subjectivity
- Indebtedness and Financialization in Everyday Life
- Financial Literacy Education: A Questionable Answer to the Financialization of Everyday Life
- Cultures of Debt Management Enter City Hall
- Financialization and the Increase in Inequality
- Financialization and the Crisis of Democracy
- The Bankers' Club and the Power of Finance
- Financialization, Speculation and Instability
- Reforming Money to Fix Financialization
Beat Weber - Macro-prudential Regulation Post-crisis and the Resilience of Financialization
- Historical Perspectives on Current Struggles Against Illegitimate Debt
Philip Mader, Daniel Mertens & Natascha van der Zwan
Part A – Finance and Financialization: Taking Stock
Brett Christophers & Ben Fine
Christoph Deutschmann
Ismail Erturk
Sheila Dow
Part B – Approaches to Studying Financialization
Ève Chiapello
Hadas Weiss
Stefano Pagliari & Kevin Young
Signe Predmore
Dimitris Sotiropoulos & Ariane Hillig
Mareike Beck & Samuel Knafo
Part C – Structures, Spaces and Sites of Financialization
Engelbert Stockhammer & Karsten Köhler
Ewa Karwowski
Bruno Bonizzi, Annina Kaltenbrunner & Jeff Powell
Yingyao Wang
Manuel Aalbers, Rodrigo Fernandez & Gertjan Wijburg
Rodrigo Fernandez & Reijer Hendrikse
Part D – Actors, Agency and Politics of Financialization
Benjamin Braun & Daniela Gabor
Johannes Petry
Brooke Harrington
Dennis Stolz & Karen Lai
Felipe González
Lena Lavinas
Paul Thompson & Jean Cushen, Kavita Datta & Vincent Guermond, Lisa Adkins, and Michael McCarthy
Part E – Techniques, Technologies and Cultures of Financialization
Max Haiven
Nathan Coombs & Arjen van der Heide
Rob Aitken
Johnna Montgomerie
Jeanne Lazarus
Laura Deruytter & Sebastian Möller
Part F – Instabilities, Insecurities and the Discontents of Financialization
Olivier Godechot
Andreas Nölke
Gerald Epstein
Sunanda Sen
Matthias Thiemann
Christina Laskaridis, Nathan Legrand & Eric Toussaint
Editor(s)
Biography
Philip Mader is a Research Fellow at the Institute of Development Studies (Brighton, UK) and program convenor of the MA in Globalisation, Business and Development. His research focuses on development and the politics of markets. His PhD from the Max Planck Institute for the Study of Societies and the University of Cologne was published as The Political Economy of Microfinance: Financializing Poverty (Palgrave, 2015) and was recognized with the Otto Hahn Medal and the German Thesis Award.
Daniel Mertens is Professor of International Political Economy at the University of Osnabrück. Prior to that, he was an assistant professor at Goethe University Frankfurt and a visiting scholar at Northwestern University. He received his PhD from the Max Planck Institute for the Study of Societies and the University of Cologne. His work ranges from the politics of credit markets and banking to analyses of the modern tax state and has been published in outlets such as the Journal of European Public Policy, New Political Economy and Competition & Change.
Natascha van der Zwan is Assistant Professor in Public Administration at Leiden University. She does comparative and historical research on financialization and pension systems, investment rules and regulations, and pension fund capitalism. Her article ``Making Sense of Financialization'' (Socio-Economic Review, 2014) has become a key article in scholarship on financialization and is widely used in university courses. Dr Van der Zwan holds a PhD in Political Science from the New School for Social Research.
Reviews
"[M]akes a monumental contribution to debates on what financialization is, what it means to live in an (increasingly) financialized world, and how we, as academics and policymakers, might grapple with the various debates surrounding financialization, financial geography and associated processes."
- Frances Brill, Regional Studies
“This will be an indispensable working tool, not just for specialists, in one of the central fields in contemporary political economy.”
- Wolfgang Streeck, Max Planck Institute for the Study of Societies, Cologne“Presenting an impressive range of authors and perspectives, this Handbook succeeds at delivering a comprehensive mapping of financialization studies. It is imaginatively organised and manages to bring coherence to this untidy and rapidly growing research field. This inevitably critical collection of chapters not only covers the reach and effects of finance, but also conveys some hope for future definancialization.”
- Julie Froud, Professor of Financial Innovation, University of Manchester“This book is a major contribution to the study of financialization. There has been an explosion in the term’s use across a wide range of disciplines, which indicates the concept’s usefulness. The book collates contributions from those disciplines, documenting how financialization helps understand both the “big picture” and developments in specific fields. It immediately establishes itself as the defining reference on financialization.”
- Thomas Palley, independent economist, Washington, DC.