Financialisation also colonizes non-economic spheres via valuation techniques.

Evidence

Financialisation is usually defined as a process of morphological transformation of capitalism, entailing the capture of resources by finance in the broadest sense through expansion of the financial markets, a rise in the number and variety of financial operators and finally the development of a service industry associated with financial activities (audit, consulting, and law firms, rating agencies, etc.) (Krippner 2005; Epstein 2005; Dume´nil and Le´vy 2001). Our analysis of the financialisation of valuation suggests another aspect of financialisation: the gradual colonisation by specific ”financialised” techniques and calculation methods. — Ève Chiapello, Financialisation of Valuation, 15

Categorization

  • XREF: Connects directly to the reading purpose on how financialized valuation colonizes non-financial activity — a bridge between classic financialisation literature (Krippner/Epstein) and the cultural/valuation approach. — connects to: Financialised reasoning can colonise non-monetary measures like scores and percentages. — Ève Chiapello, Financialisation of Valuation, 11; Financialization colonizes culture by fusing economic price with social value — Max Haiven, Cultures of Financialization, 561; Finance creates intangible commodities that exist only through valuation techniques — Ève Chiapello, Financialisation of Valuation, 104 (+7 more)
  • DEEPTHINKING: The reframing of financialisation from a macro-structural force (markets, operators, service industry) to the micro-grammar of calculation and valuation is a genuinely paradigm-shifting distinction worth sitting with.

Broader Connections