1st Edition

The Routledge International Handbook of Financialization




ISBN 9781138308213
Published February 16, 2020 by Routledge
530 Pages

USD $220.00

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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

 

  1. Financialization: An Introduction
  2. Philip Mader, Daniel Mertens & Natascha van der Zwan

    Part A – Finance and Financialization: Taking Stock

  3. The Value of Financialization and the Financialization of Value
  4. Brett Christophers & Ben Fine

  5. Entrepreneurship, Finance and Social Stratification. The Socio-Economic Background of Financialization
  6. Christoph Deutschmann

  7. Shareholder Primacy and Corporate Financialization
  8. Ismail Erturk

  9. Financialization, Money and the State
  10. Sheila Dow

  11. The Financialization of Life
    Paul Langley
  12.  

    Part B – Approaches to Studying Financialization

  13. Financialization as a Socio-technical Process
  14. Ève Chiapello

  15. The Anthropological Study of Financialization
  16. Hadas Weiss

  17. How Financialization is Reproduced Politically
  18. Stefano Pagliari & Kevin Young

  19. Feminist and Gender Studies Approaches to Financialization
  20. Signe Predmore

  21. Financialization in Heterodox Economics
  22. Dimitris Sotiropoulos & Ariane Hillig

  23. Financialization and the Uses of History
  24. Mareike Beck & Samuel Knafo

     

     

    Part C – Structures, Spaces and Sites of Financialization

  25. Financialization and Demand Regimes in Advanced Economies
  26. Engelbert Stockhammer & Karsten Köhler

  27. Economic Development and Variegated Financialization in Emerging Economies
  28. Ewa Karwowski

  29. Subordinate Financialization in Emerging Capitalist Economies
  30. Bruno Bonizzi, Annina Kaltenbrunner & Jeff Powell

  31. Financialization and State Transformations
  32. Yingyao Wang

  33. The Financialization of Real Estate
  34. Manuel Aalbers, Rodrigo Fernandez & Gertjan Wijburg

  35. Financialization and the Environmental Frontier
    Sarah Bracking
  36. Offshore Finance
  37. Rodrigo Fernandez & Reijer Hendrikse

     

    Part D – Actors, Agency and Politics of Financialization

  38. Central Banking, Shadow Banking, and Infrastructural Power
  39. Benjamin Braun & Daniela Gabor

  40. Securities Exchanges: Subjects and Agents of Financialization
  41. Johannes Petry

  42. The Rise of Institutional Investors
    Jan Fichtner
  43. Trusts and Financialization
  44. Brooke Harrington

  45. Impact Investing, Social Enterprise and Global Development
  46. Dennis Stolz & Karen Lai

  47. Micro-credit and the Financialization of Low-Income Households
  48. Felipe González

  49. The Collateralization of Social Policy by Financial Markets in the Global South
  50. Lena Lavinas

  51. Essay Forum: Labor in Financialization
  52. Paul Thompson & Jean Cushen, Kavita Datta & Vincent Guermond, Lisa Adkins, and Michael McCarthy

     

    Part E – Techniques, Technologies and Cultures of Financialization

  53. Culture and Financialization: Four Approaches
  54. Max Haiven

  55. The Calculative and Regulatory Consequences of Risk Management
  56. Nathan Coombs & Arjen van der Heide

  57. ‘A Machine for Living’: The Cultural Economy of Financial Subjectivity
  58. Rob Aitken

  59. Indebtedness and Financialization in Everyday Life
  60. Johnna Montgomerie

  61. Financial Literacy Education: A Questionable Answer to the Financialization of Everyday Life
  62. Jeanne Lazarus

  63. Cultures of Debt Management Enter City Hall
  64. Laura Deruytter & Sebastian Möller

     

    Part F – Instabilities, Insecurities and the Discontents of Financialization

  65. Financialization and the Increase in Inequality
  66. Olivier Godechot

  67. Financialization and the Crisis of Democracy
  68. Andreas Nölke

  69. The Bankers' Club and the Power of Finance
  70. Gerald Epstein

  71. Financialization, Speculation and Instability
  72. Sunanda Sen

  73. Reforming Money to Fix Financialization
    Beat Weber
  74. Macro-prudential Regulation Post-crisis and the Resilience of Financialization
  75. Matthias Thiemann

  76. Historical Perspectives on Current Struggles Against Illegitimate Debt

Christina Laskaridis, Nathan Legrand & Eric Toussaint

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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

“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.