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Rated Agency

Investee Politics in a Speculative Age

Michel Feher

ca. 25,99
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Sachbuch / Volkswirtschaft


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.

Weitere Titel von diesem Autor



Civil service, Popular sovereignty, Legislation, Shareholder, Neoliberalism, Trade union, Bond (finance), Politician, Fordism, Pension, Competition, Institutional investor, Capital market, Competitiveness, Labour power, Creditor, Theory of the firm, Economy, Law and economics, Customer, Welfare, Monetary policy, Consumer, Government agency, Institution, Populism, Taxpayer, Milton Friedman, Financier, Commodity, Employment, Class consciousness, Shareholder value, Social protection, Corporate governance, Social conflict, Inflation, Purchasing power, Management, Financialization, Welfare state, Expense, Social responsibility, Cost–benefit analysis, Financial engineering, Regulation school, Financial crisis, Public policy, Tax, Financial services, Book, Labour movement, Supporter, Globalization, Salary, Economic growth, Activism, Mines ParisTech, Public administration, Corporate social responsibility, Market liquidity, Social movement, Public utility, Capitalism, Surplus value, Debt, Credit risk, Capital accumulation, Private sector, Social contract, Debtor, Asset management, Political campaign, Wage, Capital gain, Saving, Entrepreneurship, Economist, Income, Chicago school of economics, Investor, Stock market, Tax cut, Hegemony, Human capital, Profit (economics), Regulation, Market value, Financial institution, Governance, Government debt, Empowerment, Securitization, Keynesian economics, Economics, Financial capital, Social democracy, Deregulation, Vertical integration, Budget