Financialization operates without centralized direction yet reproduces itself through transformed agency

Evidence

Perhaps the most terrifying feature of financialization is that there is no one steering the ship; there is no grand conspiracy, though its operations do depend on lesser conspiracies. Rather, I want to understand financialization as a means by which social agency (at both the highest echelons of the financial world and the lowest depths of the sub-prime) is transformed and reoriented towards the reproduction of a pathological and cancerous system. — Max Haiven, Cultures of Financialization, 38

Categorization

• DEEPTHINKING: The claim that a system is pathological at every level yet has no steersman is a dense, paradigm-level rather than refutable empirical proposition worth prolonged reflection.
• XREF: connects to: Financialization acts as unaccountable global economic planning with profit as its only goal — Max Haiven, Cultures of Financialization, 33; Financialization operates as decentralized power through everyday financial practices — Natascha van der Zwan, Making Sense of Financialization, 20; Financialization operates without a central steering agent despite lesser conspiracies. (+1 more)

Broader Connections

• Financialization operates without a central steering agent despite lesser conspiracies. #corroborates (0.95)
• Financialization operates as decentralized power through everyday financial practices #corroborates (0.88) — Natascha van der Zwan, Making Sense of Financialization, 20
• Financialization is reproduced from everyday life, not imposed by an autonomous elite #expands (0.82) — Max Haiven, Cultures of Financialization, 129