Socially responsible investing cannot fully escape the financialized regime.
Evidence
The possibilities to challenge the financialization of the everyday are therefore limited, yet not impossible. Dissenting practices may include socially responsible investment by pension funds and mutual funds which ‘succeed in politicizing the routines and rhythms of everyday investment by stimulating, supporting, and embodying alternative approaches to investment’ (Langley, 2008b, p. 134–5). Still, scholars question the extent to which non-elite actors can exercise political agency and realize political change in the financialized political economy. Not only are investment funds prone to their own principal-agent problems, but they also remain implicated in the financialized regime due to the requirements for investment return placed upon them, in particular shareholder value (Soederberg, 2009). How the democratization of finance leads to full-fledged democracy thus remains an open-ended question. — Natascha van der Zwan, Making Sense of Financialization, 82
Categorization
- XREF: Connects to the critique that ‘ethical’ investing still capitulates to shareholder value — echoes debates in ESG finance literature. — connects to: Socially responsible investment funds shape corporate conduct by applying political criteria to investment decisions — Gerald F. Davis & Suntae Kim, Financialization of the Economy, 95; Resistance to financialization cannot succeed in isolation from broader systemic struggle — Max Haiven, Cultures of Financialization, 551; Finance is necessary but not sufficient to capitalist accumulation — Max Haiven, Cultures of Financialization, 488 (+4 more)
- corroborated: 2 independent passages support this claim — Natascha van der Zwan, Making Sense of Financialization, 82
Related
- Socially responsible investment funds shape corporate conduct by applying political criteria to investment decisions (similarity 0.83)
- Solutions to financialization require abolishing capitalism, not just re-regulating finance (similarity 0.81)
- The state actively drives financialization through policy, while individuals internalize its risk discourses. (similarity 0.80)
- Financialization is integral to capitalism, not a product of deregulatory excess (similarity 0.79)
- Finance is necessary but not sufficient to capitalist accumulation (similarity 0.79)
Broader Connections
- Finance is necessary but not sufficient to capitalist accumulation
#qualifies(0.80) — Max Haiven, Cultures of Financialization, 488 - The market is an inescapable belief-structure one cannot step outside
#expands(0.80) — Fredric Jameson, Postmodernism, or, The Cultural Logic…, 483 - Resistance to financialization cannot succeed in isolation from broader systemic struggle
#corroborates(0.78) — Max Haiven, Cultures of Financialization, 551 - Financialization is a contested terrain of conflicting reproduction cycles, not a top-down imposition
#qualifies(0.78) — Max Haiven, Cultures of Financialization, 130 - Finance manages rather than creates value under capitalism.
#complicates(0.75) — Max Haiven, Cultures of Financialization, 98 - Financialization is integral to capitalism, not a product of deregulatory excess
#corroborates(0.72) — Max Haiven, Cultures of Financialization, 34