Social Justice and Financial Capitalism: Some Notions on Risks, Hierarchies, and Value | Zendy

Teppo Eskelinen | Zendy

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Social Justice and Financial Capitalism: Some Notions on Risks, Hierarchies, and Value

Author(s) -

Teppo Eskelinen

Publication year - 2018

Publication title -

studies in social and political thought

Language(s) - English

Resource type - Journals

eISSN - 2398-3884

pISSN - 1467-2219

DOI - 10.20919/sspt.27.2017.72

Subject(s) - capitalism , ideal (ethics) , ontology , vulnerability (computing) , value (mathematics) , relation (database) , economic justice , positive economics , sociology , neoclassical economics , economics , law and economics , economic system , epistemology , political science , law , philosophy , computer science , computer security , database , machine learning , politics

The recurring financial crises and intensive financialisation force a reconsideration of theories of justice. This article analyses financial capitalism as an ideal-type. In ideal-typical financial capitalism, risks and positions of vulnerability take a pronounced role in the determination of social positions. Risks also come in a specific ontological form. Further, the analysis extends to the production of value in financial capitalism and its relation to a particular logic of determining social positions. The article discusses, how should theories of justice be updated to accommodate this particular ontology of risks. This requires also making a distinction between explicit and implicit priority orders in a society.

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