Introduction to special issue on the material cultures of financialisation

Kate Bayliss, Ben Fine and Mary Robertson

New Political Economy, 2017, vol. 22, issue 4, 355-370

Abstract: This paper offers a wide-ranging introduction to the symposium on the material culture of financialisation. It begins by addressing the nature of financialisation itself, drawing on a tight definition in order to distinguish the phenomenon of financialisation from its effects and from the looser associations prevalent within much of the literature such as the presence of credit or even simply (more extensive) monetary relations. In order to locate financialisation within economic and social reproduction, of which material culture is a part, close attention is paid to the distinctive forms of financialisation arising from commodification, commodity form and commodity calculation. The differences in the extent to which, and how, these prevail are addressed through the system of provision approach and its framing of material culture through its use of 10 distinctive attributes of such cultures, known as the 10Cs (Constructed, Construed, Conforming, Commodified, Contextual, Contradictory, Closed, Contested, Collective and Chaotic). The analysis is then illustrated by reference to the papers that follow in this volume which demonstrate the diverse ways in which shifting cultures have served to embed financialisation in our daily lives. The first is on the material culture of financialisation itself and this is followed by a number of case studies that include the promotion of financial literacy and financial inclusion, well-being, the media and finally two sector examples are provided on housing and water.

Date: 2017
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DOI: 10.1080/13563467.2017.1259304

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