Overview

The extraordinary shift in conduct and orientation-among companies, governments, and individuals-generated by financialization.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 with appreciation of their capital goods, skills, connections, and reputations. In this book, in clear and compelling prose, Michel Feher explains the extraordinary shift in conduct and orientation generated by financialization.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. Above all, Feher articulates the new political resistances and aspirations that investees draw from their rated agency.

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9781942130123

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Belgian philosopher Feher (Rated Agency ) argues that, though industrial capitalism once pitched employers' interests against those of workers, in the present 'financialized' form of capitalism the conflict is between investors (those who decide when to extend credit) and 'investees,' and activism must adjust accordingly....The phenomena that Feher describes and the counterstrategy he outlines are likely to spark intra-left debate. -Publishers Weekly Belgian philosopher Feher (Rated Agency ) argues that, though industrial capitalism once pitched employers' interests against those of workers, in the present 'financialized' form of capitalism the conflict is between investors (those who decide when to extend credit) and 'investees,' and activism must adjust accordingly....The phenomena that Feher describes and the counterstrategy he outlines are likely to spark intra-left debate. -Publishers Weekly * Reviews *

Belgian philosopher Feher (Rated Agency ) argues that, though industrial capitalism once pitched employers' interests against those of workers, in the present 'financialized' form of capitalism the conflict is between investors (those who decide when to extend credit) and 'investees,' and activism must adjust accordingly....The phenomena that Feher describes and the counterstrategy he outlines are likely to spark intra-left debate. -Publishers Weekly Feher clearly and systematically lays out how following the money may not be the grand capitulation that the Left considers it to be...his subtle but important conceptual shift of emphasis from value to credit may be Rated Agency's most enduring contribution to political economy going forward. -Hyperallergic Offers a story of how we got here and how activists can, if not throw off the yoke of debt, at least begin to alter the deal a bit more in their favor. -The Baffler

Belgian philosopher Feher (Rated Agency ) argues that, though industrial capitalism once pitched employers' interests against those of workers, in the present 'financialized' form of capitalism the conflict is between investors (those who decide when to extend credit) and 'investees,' and activism must adjust accordingly....The phenomena that Feher describes and the counterstrategy he outlines are likely to spark intra-left debate. -Publishers Weekly Feher clearly and systematically lays out how following the money may not be the grand capitulation that the Left considers it to be...his subtle but important conceptual shift of emphasis from value to credit may be Rated Agency's most enduring contribution to political economy going forward. -Hyperallergic

Belgian philosopher Feher (Rated Agency ) argues that, though industrial capitalism once pitched employers' interests against those of workers, in the present 'financialized' form of capitalism the conflict is between investors (those who decide when to extend credit) and 'investees,' and activism must adjust accordingly....The phenomena that Feher describes and the counterstrategy he outlines are likely to spark intra-left debate. -Publishers Weekly

Author Information

Michel Feher, a Belgian philosopher, is the author of Powerless by Design: The Age of the International Community and the editor of Nongovernmental Politics and Europe at a Crossroads, among other titles. Founder of Cette France-là, a monitoring group on French immigration policy, Feher is also a founding editor of Zone Books.

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