Florence Dafe, S. Hager, Natalya Naqvi, Leon Wansleben
{"title":"导论:金融的结构性力量与金融化","authors":"Florence Dafe, S. Hager, Natalya Naqvi, Leon Wansleben","doi":"10.1177/00323292221125563","DOIUrl":null,"url":null,"abstract":"How do we theorize and analyze the structural power of finance when global capitalism itself undergoes constant and profound structural transformation? The literature continues to assume that the source of financial structural power is its unique ability to provide credit to the real economy, playing a crucial role in meeting the investment imperative. But recent research documents that most financial market activities no longer facilitate productive investment and can even be a drag on economic development. If the financial sector's primary role is not to support productive investments, then on what basis does it continue to hold structural power? The contributions to this special issue engage with how decades of financialization have transformed the basis of structural power toward alternative functions that have gone unnoticed in the existing literature. These include household and real estate lending that fuels consumption-led growth, concentration and expansion of financial institutions as tools of geo-economic strategy, financing current account deficits that facilitate global imbalances, and wealth preservation that bolsters inequality.","PeriodicalId":47847,"journal":{"name":"Politics & Society","volume":null,"pages":null},"PeriodicalIF":4.1000,"publicationDate":"2022-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"title\":\"Introduction: The Structural Power of Finance Meets Financialization\",\"authors\":\"Florence Dafe, S. Hager, Natalya Naqvi, Leon Wansleben\",\"doi\":\"10.1177/00323292221125563\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"How do we theorize and analyze the structural power of finance when global capitalism itself undergoes constant and profound structural transformation? The literature continues to assume that the source of financial structural power is its unique ability to provide credit to the real economy, playing a crucial role in meeting the investment imperative. But recent research documents that most financial market activities no longer facilitate productive investment and can even be a drag on economic development. If the financial sector's primary role is not to support productive investments, then on what basis does it continue to hold structural power? The contributions to this special issue engage with how decades of financialization have transformed the basis of structural power toward alternative functions that have gone unnoticed in the existing literature. These include household and real estate lending that fuels consumption-led growth, concentration and expansion of financial institutions as tools of geo-economic strategy, financing current account deficits that facilitate global imbalances, and wealth preservation that bolsters inequality.\",\"PeriodicalId\":47847,\"journal\":{\"name\":\"Politics & Society\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":4.1000,\"publicationDate\":\"2022-09-25\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"3\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Politics & Society\",\"FirstCategoryId\":\"90\",\"ListUrlMain\":\"https://doi.org/10.1177/00323292221125563\",\"RegionNum\":2,\"RegionCategory\":\"社会学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"POLITICAL SCIENCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Politics & Society","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1177/00323292221125563","RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"POLITICAL SCIENCE","Score":null,"Total":0}
Introduction: The Structural Power of Finance Meets Financialization
How do we theorize and analyze the structural power of finance when global capitalism itself undergoes constant and profound structural transformation? The literature continues to assume that the source of financial structural power is its unique ability to provide credit to the real economy, playing a crucial role in meeting the investment imperative. But recent research documents that most financial market activities no longer facilitate productive investment and can even be a drag on economic development. If the financial sector's primary role is not to support productive investments, then on what basis does it continue to hold structural power? The contributions to this special issue engage with how decades of financialization have transformed the basis of structural power toward alternative functions that have gone unnoticed in the existing literature. These include household and real estate lending that fuels consumption-led growth, concentration and expansion of financial institutions as tools of geo-economic strategy, financing current account deficits that facilitate global imbalances, and wealth preservation that bolsters inequality.
期刊介绍:
Politics & Society is a peer-reviewed journal. All submitted papers are read by a rotating editorial board member. If a paper is deemed potentially publishable, it is sent to another board member, who, if agreeing that it is potentially publishable, sends it to a third board member. If and only if all three agree, the paper is sent to the entire editorial board for consideration at board meetings. The editorial board meets three times a year, and the board members who are present (usually between 9 and 14) make decisions through a deliberative process that also considers written reports from absent members. Unlike many journals which rely on 1–3 individual blind referee reports and a single editor with final say, the peers who decide whether to accept submitted work are thus the full editorial board of the journal, comprised of scholars from various disciplines, who discuss papers openly, with author names known, at meetings. Editors are required to disclose potential conflicts of interest when evaluating manuscripts and to recuse themselves from voting if such a potential exists.