| Description |
1 online resource : illustrations (black and white) |
| Series |
Routledge studies in development economics ; 125 |
|
Routledge studies in development economics ; 125.
|
| Contents |
Cover; Title; Copyright; Dedication; Contents; List of acronyms; Preface; 1 Introduction; A crisis of red and green; The political economies of Africa; The contribution of the book; Beyond neo-liberalism; Chapter summaries; Conclusion; 2 The increasing financialisation of everything?; Financialisation: what is it?; Mainstream political economy and financialisation; Critique of mainstream definitions; An empirical examination of financialisation; Types of value and how they relate; Marxian forms of value; Conclusion; 3 Financialisation: how and why is it happening? |
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Marxist theories of circulation; Velocity of circulation; Space, time and "fairness"; Dark pools and fairness; Managing time, space and connection; Algorithmic trading; Has financialisation caused structural changes in capitalism?; Conclusion; 4 The relationship between the virtual and the material; Circulating values; Understanding valuation; Economic sociology and performativity; Understanding indeterminacy; Calculative technologies and value entities; Assemblages; Green Bonds; New value entities; Conclusion; 5 Frontiers of accumulation and ecology; Financialisation and ecology |
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Value-making at frontiers; Value, frontiers and the virtual dimension; The properties of things; The problem with speculation; Africa's "much-needed" infrastructure and the infrastructure gap; Carbon, the weather and trading in cats; Cat bond triggers and African resilience; Insurance regimes and the future; Capitalization of almost everything?; Conclusion; 6 Illicit financial flows and exemptions from sovereignty; Illicit financial flows; The banking sector; Secrecy jurisdictions and transfer pricing; Wealth transfers; Political power and illicit financial flows; What causes IFFs? |
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Economic empowerment and financialised power; High-level corruption and immunity from prosecution; The individualised liberal model of corruption; "They have their own people they want to blame"; Connectivity and cliques; Boomerang deals; The electoral cycle and the business cycle of corruption; Conclusion; 7 The governance of privilege and the privilege of the governors; Administrative corruption; Costs of corruption; Connectivity in petty corruption; The role of corruption in the non-delivery of public services; Service delivery and corruption in South Africa |
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Accountability and service delivery; Privatisation of welfare to philanthropy; A spectacle of care; Conclusion; 8 Financialised assistance, democracy and the anti-political future; "Something new about something new"?; The argument of the book in summary; Increasing political risk as antidote to "anti-politics"; End game?; Power and politics; Bibliography; Index |
| Summary |
The financial crash of 2008 led people all over the world to ask how far financiers are in control of our lives. To what extent does what they do with our money affect our everyday lives? This book asks whether the crisis, and subsequent use of public subsidies to help the international economy recover, was a unique event, or a symptom of a wider malaise where financiers have effectively usurped the power of governments and are running the political economy themselves. The Financialisation of Power in Africa argues that growth is not always a good thing. The development of more derivatives and faster financial exchanges are draining businesses of investment capital rather than serving to supply it; applying financial logic does not save nature or protect biodiversity and other species. This book outlines the concept of financialisation and how it has been used in various ways to explain the post-2008 crisis and global political economy. There is a particular focus on these issues in reference to Africa, which has a particular dependence on international money. It takes the perspective of the modern state, exploring how the political economy of development actually works in relation to African governance. This book is of interest to students of international development and political economy and is a key source for policy makers interested in African studies and economic development |
| Bibliography |
Includes bibliographical references and index |
| Notes |
CIP data; resource not viewed |
| Subject |
Subsidies -- Africa
|
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Economic development -- Africa
|
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Global Financial Crisis, 2008-2009.
|
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BUSINESS & ECONOMICS -- Industries -- General.
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Economic development
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Economic policy
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Subsidies
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Finanzkapital
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Kapitalismus
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Macht
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| SUBJECT |
Africa -- Economic policy
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| Subject |
Africa
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Afrika
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| Form |
Electronic book
|
| ISBN |
9781136268922 |
|
1136268928 |
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9781136268939 |
|
1136268936 |
|
9781136268885 |
|
113626888X |
|
9780203109274 |
|
0203109279 |
|
