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Bridging the critical divide: global finance, financialisation and contemporary capitalism

Montgomerie, Johnna. 2008. Bridging the critical divide: global finance, financialisation and contemporary capitalism. Contemporary Politics, 14(3), pp. 233-252. ISSN 1356-9775 [Article]

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This article is about two distinct frameworks that evaluate why finance matters in contemporary capitalism. The International Political Economy (IPE) literature on global finance analyses the geopolitical dynamics of financial markets where finance matters because it is an integral element of power in the global political economy. The newer literature on financialisation offers an account of present day capitalist dynamics where individuals, firms and the macroeconomy are increasingly mediated by new relationships with financial markets. These two frameworks share a common ground: both reject the mainstream orthodoxy of neo-classical economics and positivist methodology. Essentially, the global finance and financialisation frameworks are different sides of the same critical coin. This article offers a sympathetic critique of both the global finance and financialisation bodies of literature. I argue that greater engagement between the literatures would provide new fruitful avenues of research.

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23 October 2008Published

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20 Jan 2016 20:45

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30 Jun 2017 12:15

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Yes, this version has been peer-reviewed.


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