![\"finance:](\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2014\/11\/finance-servant-or-deceiver-191x300.jpg\")
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Finance: Servant or Deceiver? Financialisation at the Crossroad, Prof. Paul H. Dembinski, Palgrave Macmillan, 2009, 179 pages.<\/strong><\/p>\n The work of the Observatoire de la Finance over the past ten years has shown that the continuing spread of financial logic through society is the result of a converging set of factors: the development of technology and, more generally, of wealth-creating capacity, a growing dread of risk and the unforeseen as living standards increase, finance’s theoretically based claim to guarantee the West a peaceful future, the challenges and aspirations of countries in the South with regard to economic and social development, and so on.<\/p>\n In the course of the Observatoire’s research it has become clear that the psychological, philosophical and moral dimensions of finance are as important to a proper understanding of it as are its economic, technical and institutional aspects. It is these avenues that the Observatoire has explored over the past decade.<\/p>\n The result today is an epistemologically coherent conceptual framework that has been used to help draw up a systemic diagnosis. The diagnosis, which is the subject of this book, reveals that behind the conspicuous expansion of finance a systemic transformation, referred to here as ‚financialization‘, is in fact taking place.<\/p>\n Summary<\/strong><\/p>\n INTRODUCTION PART I: THE FINANCIAL ICEBERG<\/p>\n Chapter 1.1 THE HISTORICAL DEVELOPMENT OF FINANCE Chapter 1.2 PLAYERS AND INSTITUTIONS Chapter 1.3 THE FINANCIAL WORLD VIEW PART II: A NEW PATTERN<\/p>\n Chapter 2.1 FINANCIAL RELATIONSHIPS AND FINANCIAL TRANSACTIONS Chapter 2.2 THE SPREAD OF TRANSACTIONS Chapter 2.3 VERY LARGE CORPORATIONS: THE VEHICLES OF FINANCIALIZATION Chapter 2.4 FINANCIALIZATION OF THE ECONOMIC FABRIC Chapter 2.5 TYING CUSTOMERS TO BUSINESSES Chapter 2.6 OTHER ASPECTS OF FINANCIALIZATION Chapter 2.7 IMPLICATIONS OF THE NEW PATTERN<\/p>\n PART III : FINANCE \u2013 WHAT KIND OF SOCIETY DO WE WANT?<\/p>\n Chapter 3.1 LIMITS INHERENT IN THE PROCESS ITSELF Chapter 3.2 LIMITS INHERENT IN HUMAN NATURE Chapter 3.3 WHAT IS TO BE DONE? Finance: Servant or Deceiver? Financialisation at the Crossroad, Prof. Paul H. Dembinski, Palgrave Macmillan, 2009, 179 pages. The work of […]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":607,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-615","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages\/615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/comments?post=615"}],"version-history":[{"count":1,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages\/615\/revisions"}],"predecessor-version":[{"id":616,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages\/615\/revisions\/616"}],"up":[{"embeddable":true,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages\/607"}],"wp:attachment":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/media?parent=615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBackground
\nGood timing
\nTheoretical background
\nHow financialization is changing society
\nStructure of the report<\/p>\n
\nThe euphoric years
\nMoney: from servant to master
\nICT euphoria
\nThe break-up of money<\/p>\n
\nMarkets as trust-building mechanisms
\nMega-players
\nCustodians of the market temple
\nPublic deficits and how they are financed<\/p>\n
\nThe efficiency ethos
\nRisk and return: a neat paradigm
\nRisk \u2013 fear of risk \u2013 a risk-free future
\nFrom interest to greed: unbridled passion<\/p>\n
\nFinancial relationships
\nFrom financial relationships to financial transactions
\nFinancial transactions<\/p>\n
\nThe institutional process
\nFinancial markets as sounding boards
\nFinance as intermediary
\nRelationships and transactions: statistical orders of magnitude
\nFinance and the rest of the economy<\/p>\n
\nVery Large Corporations (VLCs)
\nA global marketing economy
\nEnterprises‘ value: new forms of capital
\nShareholder value: the mantra of the new foremen
\nROE rules
\nProcedures as a vehicle for efficiency<\/p>\n
\nVLCs‘ subcontractors
\nSMEs: private equity on the prowl<\/p>\n
\nPlanned obsolescence
\n‚Personalized‘ customer relations
\nDissolving products into services
\nThe alienation of the anaesthetized consumer<\/p>\n
\nThe age of anticipation: banks and their customers
\nHumanity in the grip of financialization
\nFinance: a metaphysical response<\/p>\n
\nThe spectre of sterility
\nComplexity
\nConcentration of economic power<\/p>\n
\nTransactions: beyond conflicts of interest
\nEthical alienation
\nA sense of helplessness<\/p>\n
\nChallenge financial ethics
\nEncourage long-term relationships
\nChange the system of remuneration
\nRevisit financial process<\/p>\n","protected":false},"excerpt":{"rendered":"