Finance both transforms culture and depends on that cultural transformation

Evidence

This is not a book about the workings of the financial sector as such, in terms of the operations of derivatives markets, the antics of investment bankers or the economic terrorism of deregulated global financial flows. This book is about the way the financial sector influences and transforms culture and social life beyond its formal borders, and, more unnervingly, the way it (and the broader capitalist order of which it is a part) depends on that very transformation. — Max Haiven, Cultures of Financialization, 31

That is, this book is a series of Promethean attempts to steal financialization’s fire, to reclaim metaphor, narrative, ideology and imagination from financialization and turn them towards its undoing. Put in another way, this is a book about how financialization both transforms and depends on the production of social fictions (hence, as we shall see in Chapter 1, the utility of the concept of “fictitious capital”). It strives to intervene in that process by revealing the dense, complex, nuanced and conflicted cultural labour that underscores the reproduction of finance capital today, and, hence, it tells a radically different story about financialization. — Max Haiven, Cultures of Financialization, 40

Categorization

• XREF: States the two-way causal mechanism — finance colonizes culture AND needs that colonization — that prefigures deWaard’s argument. — connects to: Financial language now reshapes public policy domains historically governed by other values. — Ève Chiapello, Financialisation of Valuation, 93; Financialized cultural attitudes may result from, not drive, expanded financial services. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 49; Finance culture is a cultural frame, not an exogenous shift imposed on households. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 151 (+8 more)
• corroborated: 2 independent passages support this claim — Max Haiven, Cultures of Financialization, 31; Max Haiven, Cultures of Financialization, 40

Broader Connections

• Culture now shapes the financial economy as much as the economy shapes culture #corroborates (0.90) — Max Haiven, Cultures of Financialization, 61
• Capitalism’s material system is interwoven with cultural reproduction #corroborates (0.85) — Max Haiven, Cultures of Financialization, 122
• Cultural change can follow institutional change rather than precede it #complicates (0.80) — , The Rod and the Child, 2237
• Culture is not superstructural but is where financialized capitalism subjugates social values #expands (0.75) — Max Haiven, Cultures of Financialization, 563