Fairness through regulation? Reflections on a cosmopolitan approach to global finance
Marta Božina Beroš () and
Marin Beroš ()
Additional contact information
Marta Božina Beroš: Juraj Dobrila University of Pula
Marin Beroš: University of Zagreb
The Journal of Philosophical Economics, 2013, vol. 7, issue 1
In the aftermath of the last financial crisis a strong message prevails that ‘something’ has to be changed in the manner global finance is governed. What exactly this ‘something’ entails and what could constitute the ‘common ground’ of anticipated change is more difficult to determine. Many envisage future improvements of global financial governance by evoking deliberative democracy, political equality and cosmopolitanism. As financial regulation is the main instrument through which global finance is shaped and governed nowadays, these principles should then be transmitted to regulatory arrangements. This paper focuses on a new conceptual approach to regulatory and governance issues in global finance, by employing the philosophical idea of cosmopolitanism. It argues that although as a concept, cosmopolitanism cannot mitigate all the flaws attributed to contemporary finance, its development and extension to international financial regulation that is promulgated by institutions of the global financial system, would represent a worthwhile endeavour in making global finance more accountable and just in the eyes of many.
Keywords: global financial system; financial governance; cosmopolitanism; financial regulation (search for similar items in EconPapers)
JEL-codes: G18 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bus:jphile:v:7:y:2013:i:1:n:2
Access Statistics for this article
The Journal of Philosophical Economics is currently edited by Valentin Cojanu
More articles in The Journal of Philosophical Economics from Bucharest Academy of Economic Studies, The Journal of Philosophical Economics Contact information at EDIRC.
Series data maintained by Valentin Cojanu ().