Financial Capitalism and Its Critiques: Financial Elites on Trial
Since the beginning of the 2007-2008 crisis, the financial industry has been regularly denounced and criticized. Such critiques are evident in the Occupy movement as well as in international scandals around financial markets, and from research that identifies the development of the financial industry as one of the main causes of rising inequalities since the 1980s. But do these critiques really affect finance? More precisely, how do financial institutions limit and contain such critiques in order to protect themselves? This sociological research explores the dynamic between critiques and financial capitalism in three different fields: trials of financial elites; the regulation of financial markets; and the protests against finance. The first field focuses on recent scandals and trials - such as Libor and Forex - involving traders in France and Britain. How has the financialization of capitalism transformed the irregular and illegal activity in the banking industry and the efforts by bankers to maintain self-regulation? What explains the high-level of tolerance towards financial and white-collar crime in contemporary democratic-capitalist societies? Project duration: October 2015 to September 2017.
Angeletti, Thomas. 2016. "La dette, cet artefact." La vie des idées, published online November 10, 2016.