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Understanding financialization and its impacts on Social Economy

Manuel BELO Moreira ()
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Manuel BELO Moreira: Universidade de Lisboa, Instituto Superior de Agronomia; member of CIRIEC-Portugal, Portugal

Chapter 6 in Providing public goods and commons. Towards coproduction and new forms of governance for a revival of public action, 2018, vol. 1, pp 113-133 from CIRIEC - Université de Liège

Abstract: Following a political economy perspective about financialization and its impacts on social economy, it seems important to understand the role of the neoliberal ideological hegemony and the ways in which, it not only influences academic thinking, but it goes well beyond, by shaping the “common sense” and therefore reinforcing its dominance. Describing the essential features of the financialization process brings to light the driving forces and the mechanisms that were put into practice and, finally, explains why, in spite of its negative effects which could provoke a rejection by the majority, the ideology is nonetheless reinforced. The text seeks to establish a framework concerning the impacts of financialization on the social economy sector, by reflecting what the main differences are between the different branches of social economy and how they can be affected by neoliberal ideology and policies. It seems particularly important to separate the institutions of social economy that do not compete with profit firms from the institutions that by competing on the market could function as an alternative to capitalist enterprises.

Keywords: financialization; social economy; neoliberal ideology (search for similar items in EconPapers)
JEL-codes: J54 L31 O35 (search for similar items in EconPapers)
Date: 2018
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