Financial language now reshapes public policy domains historically governed by other values.

Evidence

The language of finance appears to be gradually invading public policies, especially in Europe—and that colonisation has gathered pace since the 2000s. This suggests that we have entered a new stage of the financialisation process in capitalism. First, from the 1980s on states began to deregulate financial activities and facilitate the growth of financial industries, then, since the 1990s, they have actively supported the construction of global financial markets and experimented with new types of regulation based on financial theory recommendations (with guiding principles such as transparency, corporate governance, market liquidity, and so on). The cases of banking supervision and accounting standardisation addressed in this article make this point very obvious. The financial industry has continued growing in size, power, and wealth during the period and the States have become increasingly dependent on it. The current stage is marked by a reshaping of a growing number of public policies infused by financialised reasoning, even those policies promoting historically very different valuation principles, such as those addressing social, cultural, or environmental questions. — Ève Chiapello, Financialisation of Valuation, 93

Categorization

• XREF: Connects to the financialization-of-everything thesis and to the reader’s interest in financialized valuation colonizing non-financial activity. — connects to: Finance methods have been used to craft environmental public policy since the mid-1990s — Ève Chiapello, Financialisation of Valuation, 84; Culture now shapes the financial economy as much as the economy shapes culture — Max Haiven, Cultures of Financialization, 61; Cultural industries shifted from commodity language to financial-instrument language — Andrew deWaard, Derivative Media: How Wall Street…, 96 (+6 more)
• SEED: An essay angle: how a single vocabulary (transparency, liquidity, governance) migrated from finance into environmental and cultural policy.

Related

• Financial language simultaneously reflects and advances the spread of financialization. (similarity 0.86)
• Financialisation also colonizes non-economic spheres via valuation techniques. (similarity 0.86)
• Investor-style valuation techniques now shape public policy with coercive force (similarity 0.84)
• Financialization means financial ideas and tropes migrating out to transform culture. (similarity 0.83)
• Finance methods have been used to craft environmental public policy since the mid-1990s (similarity 0.83)
• Finance both transforms culture and depends on that cultural transformation (similarity 0.82)
• Culture now shapes the financial economy as much as the economy shapes culture (similarity 0.82)
• Financialization colonizes culture through diffuse metaphors, narratives, and techniques (similarity 0.82)
• Cultural industries shifted from commodity language to financial-instrument language (similarity 0.82)
• Financialization means finance’s motifs spreading into spheres far from finance proper (similarity 0.81)
• Finance has become the primary arbiter of policy and value across daily life (similarity 0.81)
• Financialised reasoning can colonise non-monetary measures like scores and percentages. (similarity 0.81)
• Financialized cultural attitudes may result from, not drive, expanded financial services. (similarity 0.81)
• Financialised valuations override prior forms of valuation and reshape how people act and identify (similarity 0.81)
• Financialization colonizes culture by fusing economic price with social value (similarity 0.81)

Broader Connections

• Investor-style valuation techniques now shape public policy with coercive force #exemplifies (0.95) — Ève Chiapello, Financialisation of Valuation, 108
• Financialised valuations override prior forms of valuation and reshape how people act and identify #expands (0.85) — Ève Chiapello, Financialisation of Valuation, 16
• Cultural industries shifted from commodity language to financial-instrument language #exemplifies (0.82) — Andrew deWaard, Derivative Media, 96
• Financial language simultaneously reflects and advances the spread of financialization. #expands (0.80) — Max Haiven, Cultures of Financialization, 69
• Culture now shapes the financial economy as much as the economy shapes culture #expands (0.78) — Max Haiven, Cultures of Financialization, 61
• Intertextuality has shifted from a literary to a financial phenomenon. #corroborates (0.75) — Andrew deWaard, Derivative Media, 33
• Finance both transforms culture and depends on that cultural transformation #expands (0.75) — Max Haiven, Cultures of Financialization, 31
• Financialized cultural attitudes may result from, not drive, expanded financial services. #complicates (0.72) — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 49