Finance operates as a disciplinary mechanism that mobilizes debt to exploit labor.
Evidence
In making this argument, I am not seeking to contradict but, rather, to complicate analyzes of financialization that see it as a weapon marshalled by the capitalist ruling class (or a faction thereof) against workers of the world. I understand finance as a disciplinary mechanism of capitalist power, one whose primary purpose is to mobilize debt (of individuals, of firms, of governments) as a means to better extort and exploit labour, generate and circulate surplus value, and shape the reproduction of social and economic life. — Max Haiven, Cultures of Financialization, 58
Categorization
- XREF: Connects to deWaard’s cultural argument — finance as disciplinary mechanism shaping everyday reproduction, exactly the mechanism the reader is tracing. — connects to: Finance wields power by forcing agency to express itself as debt — Max Haiven, Cultures of Financialization, 264; Debt and finance work biopolitically to produce compliant self-financing subjectivities — Max Haiven, Cultures of Financialization, 90; Financial sector wealth derives from debts that discipline debtors into compliance — Max Haiven, Cultures of Financialization, 90 (+9 more)
Broader Connections
- Finance wields power by forcing agency to express itself as debt
#corroborates(0.92) — Max Haiven, Cultures of Financialization, 264 - Financial sector wealth derives from debts that discipline debtors into compliance
#corroborates(0.90) — Max Haiven, Cultures of Financialization, 90 - Debt and finance work biopolitically to produce compliant self-financing subjectivities
#expands(0.85) — Max Haiven, Cultures of Financialization, 90 - Financial practice expresses class and acts as a control mechanism
#corroborates(0.85) — Natascha van der Zwan, Making Sense of Financialization, 20 - The financier embodies an ideal of leveraged precariousness imposed on all workers
#expands(0.80) — Max Haiven, Cultures of Financialization, 187 - Financialization captures and encloses human creative capacity through debt
#expands(0.80) — Max Haiven, Cultures of Financialization, 390 - Financialization drives the rise of precarious labor and dissolves social bonds
#expands(0.78) — Max Haiven, Cultures of Financialization, 141 - Finance manages rather than creates value under capitalism.
#contradicts(0.72) — Max Haiven, Cultures of Financialization, 98