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Template:M intro systems financialisation: Difference between revisions
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{{d|Financialisation|/faɪˈnænʃᵊlaɪˈzeɪʃᵊn/|n|}} | |||
1. ''General'': The increasing importance of financial markets, motives, institutions, and elites in the operation of the economy and its governing institutions.<ref>Adapted from ''Financialization, Rentier Interests, and Central Bank Policy'', Epstein, 2001.</ref> | |||
2. ''JC’s own meaning'': The [[high-modernist]] goal of reducing ''ineffable'' things to their most calculable, and manipulable ''values''. So: [[David Graeber]]’s ''social'' indebtedness versus ''monetary'' indebtedness. | |||
The most manipulable, [[fungible]], calculable, aggregatable articulation of [[value]] known to western society is [[cash]] — [[degenerate fiat]] cash, sorry crypto bros— and it is what we describe our relationships in. Hence “financialisation”, but it needs not involve money. Reviews, five point performance appraisals, RAG statuses, star ratings, measurable criteria — anything which can be ordered, pivoted, Pareto ratioed, and put into a ranked, tranched order. | The most manipulable, [[fungible]], calculable, aggregatable articulation of [[value]] known to western society is [[cash]] — [[degenerate fiat]] cash, sorry crypto bros— and it is what we describe our relationships in. Hence “financialisation”, but it needs not involve money. Reviews, five point performance appraisals, RAG statuses, star ratings, measurable criteria — anything which can be ordered, pivoted, Pareto ratioed, and put into a ranked, tranched order. | ||