Placing race in planetary financialisation

Julien Migozzi

Chapter 9 in Handbook on Financialisation and Space, 2026, pp 131-148 from Edward Elgar Publishing

Abstract: This chapter examines the constitutive relationship between race and financialisation in the longue durée of capitalist development. Drawing on financialisation studies, critical economic geography, and racial capitalism scholarship, I argue that financialisation is inherently racialised rather than merely conjunctural to racial inequalities. The analysis traces how race has been embedded in financial instruments from colonial expansions through contemporary digital capitalism. Two key mechanisms enable this interconnection: racial formations create differential valuations of human life and labour, establishing property regimes that facilitate asset creation and value extraction; and race functions as a force of abstraction, enabling the transformation of complex relationships into standardised financial instruments. By examining the slave-based financial architecture and trade of mercantile capitalism, the practices of financialised capitalism, such as predatory inclusion and financial subordination, and twenty-first-century digital capitalism's algorithmic discrimination and extractive dimensions, the chapter illustrates how cycles of capital accumulation linked together race and finance in technological, institutional, and environmental contexts.

Keywords: Race; Financialisation; Slavery; Credit; Digital; Capitalism (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035328628
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