- 192 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
About this book
The hegemony of finance compels a new orientation for everyone and everything: companies care more about the moods of their shareholders than about longstanding commercial success; governments subordinate citizen welfare to appeasing creditors; and individuals are concerned less with immediate income from labor than appreciation of their capital goods, skills, connections, and reputations.
That firms, states, and people depend more on their ratings than on the product of their activities also changes how capitalism is resisted. For activists, the focus of grievances shifts from the extraction of profit to the conditions under which financial institutions allocate credit. While the exploitation of employees by their employers has hardly been curbed, the power of investors to select investees — to decide who and what is deemed creditworthy — has become a new site of social struggle.
In clear and compelling prose, Michel Feher explains the extraordinary shift in conduct and orientation generated by financialization. Above all, he articulates the new political resistances and aspirations that investees draw from their rated agency.
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Index
- ABERCROMBIE AND FITCH, 94 n.30.
- Accreditation, 25, 41, 43–44, 46–48, 55, 57, 62, 74, 83, 187, 204, 223, 226–27.
- Adenauer, Konrad, 28 n.6.
- Afghanistan, invasion of, 104, 165, 167.
- Agency theory, 63, 65–66, 78–79, 177.
- Aglietta, Michel, 221 n.50.
- Agriculture, 178.
- Airbnb, 175, 179, 196, 204.
- Albuquerque, 76.
- Alpha Coal, 77.
- al-Qaeda, 164.
- Amazon, 181, 194, 196.
- American Civil Liberties Union, 94 n.30.
- Antiausterity Left, 128.
- Arabella Advisors, 77.
- Arab Spring, 149 n.27, 167, 170.
- Argentina, 114, 116, 117.
- Askenazy, Philippe, 221 n.51.
- Assad, Bashar al, 212 n.12.
- Atos Healthcare, 214 n.17.
- Attac, 77.
- Austerity, 104–105, 109, 122, 129, 136–40, 142–43, 145 n.9, 169, 171, 203.
- AXA, 97 n.41.
- BAHRAIN, 149 n.28, 170.
- Bank bailouts, 105, 122, 129, 133, 137.
- Bank of America, 75.
- Bannon, Steve, 226.
- Barcelona, 113, 129, 197.
- Barthélémy, Jacques, 217 n.35.
- Basel Committee on Banking Supervision, 142.
- Becker, Gary, 28 n.6, 35 n.16, 37 n.17, 225, 228 n.2.
- Bell, Daniel, 90 n.13.
- Bellingham, 76.
- Ben Ali, Zine El Abidine, 170, 213 n.14.
- Berlin, 76.
- Bicameralism, 29 n.10.
- Bin Laden, Osama, 212 n.12.
- Bitcoin, 97 n.41.
- Bizi!, 77.
- Black Lives Matter, 226, 227.
- Blair, Tony, 25, 103, 157, 158, 160, 163, 16...
Table of contents
- Cover Page
- Series Page
- Title Page
- Copyright Page
- Contents
- Introduction: Journeys of Political Despondency
- I. The Stakes of Corporate Governance
- II. The Bonds of Governmental Policy
- III. The Appreciation of Individual Conduct
- Coda
- Acknowledgments
- Index