Financial practice expresses class and acts as a control mechanism

Evidence

Finance becomes politicized in this scholarship: its practice is not the neutral allocation of capital, but rather an expression of class, a control mechanism, or even a rationality associated with late twentieth-century capitalism. — Natascha van der Zwan, Making Sense of Financialization, 20

Categorization

• SHARE: A sharp one-liner for a colleague teaching political economy — the politicization-of-finance claim condenses three approaches at once.
• corroborated: 2 independent passages support this claim — Natascha van der Zwan, Making Sense of Financialization, 20
• XREF: connects to: Financial valuation theory legitimizes financiers’ power by claiming they optimize resource allocation. — Ève Chiapello, Financialisation of Valuation, 36; Financialization of households is stratified by class, not uniform — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 21; The finance culture took root in the upper-middle class. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 65 (+13 more)

Related

• The state actively drives financialization through policy, while individuals internalize its risk discourses. (similarity 0.82)
• Financialization scholarship spans three approaches with distinct analytic foci. (similarity 0.81)
• Finance operates as a disciplinary mechanism that mobilizes debt to exploit labor. (similarity 0.81)
• Financialization operates as decentralized power through everyday financial practices (similarity 0.81)
• Financialization of households is stratified by class, not uniform (similarity 0.80)
• Finance has become the primary arbiter of policy and value across daily life (similarity 0.80)
• Financialization ultimately represents markets displacing social institutions as society’s organizing principle. (similarity 0.80)
• Finance transforms creative talent into a weapon of class war that entrenches inequality (similarity 0.80)
• Financialization is integral to capitalism, not a product of deregulatory excess (similarity 0.80)
• Finance has come to dominate American economic life. (similarity 0.80)
• Financialization means finance’s logics penetrate the fabric of everyday life (similarity 0.80)
• Financialization is reproduced from everyday life, not imposed by an autonomous elite (similarity 0.80)
• Financialization has competing explanations from three distinct scholarly disciplines. (similarity 0.79)
• Finance is sourced from everyday life, not just reaching down from elites (similarity 0.79)
• Financialization is a pattern of accumulation dominated by financial channels over trade and production (similarity 0.79)

Broader Connections

• Financialization means finance’s logics penetrate the fabric of everyday life #expands (0.88) — Max Haiven, Cultures of Financialization, 72
• Obligation-credit structures concentrate power in hierarchical and stratified settings. #expands (0.85) — Coleman, SocialCapitalCreation-1988, 92
• Opacity of financial instruments extends into social and political life. #expands (0.82) — Aris Komporozos-Athanasiou, Speculative Communities, 60
• Class membership is defined by control over the means of production #complicates (0.80)
• Finance creatively generates new forms of social and political life #corroborates (0.78) — Aris Komporozos-Athanasiou, Speculative Communities, 98