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Journal ArticleDOI: 10.1080/09692290.2020.1830828

Assets and assetization in financialized capitalism.

04 Mar 2021-Review of International Political Economy (Taylor & Francis)-Vol. 28, Iss: 2, pp 382-393
Abstract: In the wake of the global financial crisis of 2007–09, political economists have typically identified and interrogated speculative logics and credit-debt relations as the markers of financialized c...

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Topics: Financialization (61%), Financial crisis (54%), Capitalism (53%) ... read more
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Open accessPosted Content
Abstract: The sociological understanding of valuation often starts with an idea of value as something that something has by virtue of how people consider it (that is, it is socially constructed, a convention, a social representation, a projection). At some point, however, analysis also often draws a contrast between this sort of appraisal and some other type of value that the thing may have as a result of its own condition (what it costs, how it is made, with what kind of labour, money and materials, what it is worth in relation to objective standards and fundamental metrics). Dissatisfaction with this binary approach has been expressed in various quarters, but the pragmatist contribution of John Dewey provides a particularly useful resource with which to engage with the subject. This article reviews some aspects of this dissatisfaction, with a focus on the pragmatist idea of valuation considered as an action. I discuss this idea in relation to financial valuation, referring in particular to early pedagogical materials on corporation finance elaborated in the context of the professionalization of business administration. Finally I elaborate on the usefulness of a pragmatist stance in the understanding of financial valuation today.

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Topics: Valuation (finance) (58%)

24 Citations


Journal ArticleDOI: 10.1177/0094306119853809U
Simone Polillo1Institutions (1)
Abstract: vincing case for the need to further understand the significance of leader communities within society as a whole. Others should build on Holmqvist’s work, not only by constructing carefully crafted, well-written, meaningful ethnographies, but also in providing a nuanced picture of the means by which individuals are formed into elites through specific practices of consecration. Through such work, we can better understand how these relatively small communities significantly affect the rest of the world.

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Topics: Capital (economics) (72%)

18 Citations


Open accessJournal ArticleDOI: 10.6092/ISSN.1971-8853/12107
Gernot Grabher1Institutions (1)
01 Jan 2020-Sociologia
Abstract: Advance notice: Rather than a straight narrative, this is a roadmap, roughing out rather divergent pathways for the further exploration of platforms The essay sets off by reiterating the agentic qualities of machinery for understanding the dynamics of platformization and elucidates the dialectical dynamics of (dis)embedded digital platform labor Subsequently, the societal implications of the “asset-light” business model of platforms as well as of the framing of platform labor as independent entrepreneurship are explored After perceiving datafication through the optic of assetization, the essay finally explores the platformization of manufacturing and agriculture and the morphing of the material and the digital in the Internet of Things (IoT) A somewhat restless journey, no doubt But positioning the various pathways vis-a-vis Karl Polanyi’s stand should prevent us from losing orientation

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Topics: Datafication (56%)

6 Citations


Journal ArticleDOI: 10.1080/03085147.2021.1860335
Abstract: Private investment capital is now widely regarded as strategically significant to the governance of climate change. A dedicated and dynamic carbon finance sector has emerged that features technique...

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Topics: Investment (macroeconomics) (73%), Divestment (67%), Carbon finance (61%) ... read more

4 Citations



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Open accessPosted Content
Thomas Piketty1Institutions (1)
Abstract: In this article, I present three key facts about income and wealth inequality in the long run emerging from my book, Capital in the Twenty-First Century, and seek to sharpen and refocus the discussion about those trends. In particular, I clarify the role played by r > g in my analysis of wealth inequality. I also discuss some of the implications for optimal taxation, and the relation between capital-income ratios and capital shares.

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Topics: Capital (economics) (65%), Income distribution (58%), Inequality (51%)

6,243 Citations


Open accessBook
01 Aug 2013-
Abstract: A New York Times #1 Bestseller An Amazon #1 Bestseller A Wall Street Journal #1 Bestseller A USA Today Bestseller A Sunday Times Bestseller Winner of the Financial Times and McKinsey Business Book of the Year Award Winner of the British Academy Medal Finalist, National Book Critics Circle Award "It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year-and maybe of the decade." -Paul Krugman, New York Times "The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat." -The Economist "Piketty's Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years." -Steven Pearlstein, Washington Post "Piketty has written an extraordinarily important book...In its scale and sweep it brings us back to the founders of political economy." -Martin Wolf, Financial Times "A sweeping account of rising inequality...Piketty has written a book that nobody interested in a defining issue of our era can afford to ignore." -John Cassidy, New Yorker "Stands a fair chance of becoming the most influential work of economics yet published in our young century. It is the most important study of inequality in over fifty years." -Timothy Shenk, The Nation

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Topics: nobody (53%), Magnum opus (50%), Capitalism (50%) ... read more

5,410 Citations


Journal ArticleDOI: 10.1093/SER/MWT020
Natascha van der Zwan1Institutions (1)
Abstract: Since the early 2000s, scholars from a variety of disciplines have used the concept of financialization to describe a host of structural changes in the advanced political economies. Studies of financialization interrogate how an increasingly autonomous realm of global finance has altered the underlying logics of the industrial economy and the inner workings of democratic society. This paper evaluates the insights of more than a decade of scholarship on financialization. Three approaches will be discussed: the emergence of a new regime of accumulation, the ascendency of the shareholder value orientation and the financialization of everyday life. It is argued that a deeper understanding of financialization will lead to a better understanding of organized interests, the politics of the welfare state, and processes of institutional change.

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Topics: Financialization (58%)

732 Citations


Open accessBook
Colin Crouch1, Colin Crouch2Institutions (2)
08 Aug 2011-
Abstract: The financial crisis seemed to present a fundamental challenge to neo-liberalism, the body of ideas that have constituted the political orthodoxy of most advanced economies in recent decades. Colin Crouch argues in this book that it will shrug off this challenge. The reason is that while neo-liberalism seems to be about free markets, in practice it is concerned with the dominance over public life of the giant corporation. This has been intensified, not checked, by the recent financial crisis and acceptance that certain financial corporations are 'too big to fail'. Although much political debate remains preoccupied with conflicts between the market and the state, the impact of the corporation on both these is today far more important. -- Back cover.

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Topics: Too big to fail (54%), Financial crisis (53%), Free market (51%) ... read more

713 Citations


Journal ArticleDOI: 10.1179/102452908X289802
Manuel B. Aalbers1Institutions (1)
Abstract: Financialization can be characterized as capital switching from the primary, secondary or tertiary circuit to the quaternary circuit of capital. Housing is a central aspect of financialization. The financialization of mortgage markets demands that not just homes but also homeowners become viewed as financially exploitable. It is exemplified by the securitization of mortgage loans, but also by the use of credit scoring and risk-based pricing. In the past century, mortgage markets were transformed from being a ‘facilitating market’ for homeowners in need of credit to one increasingly facilitating global investment. Since mortgage markets are both local consumer markets and global investment markets, the dynamics of financialization and globalization directly relate homeowners to global investors thereby increasing the volatility in mortgage markets, as the current crisis shows all too well.

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Topics: Mortgage insurance (68%), Shared appreciation mortgage (67%), Mortgage underwriting (66%) ... read more

559 Citations


Performance
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No. of citations received by the Paper in previous years
YearCitations
20217
20201
20191
20111