Social Justice and Financial Capitalism : Some Notions on Risks, Hierarchies, and Value
Eskelinen, T. (2017). Social Justice and Financial Capitalism : Some Notions on Risks, Hierarchies, and Value. Studies in Social and Political Thought, 27, 57-75. doi:10.20919/sspt.27.2017.72
Published inStudies in Social and Political Thought
© Eskelinen, 2017. This is an open access article published by University of Sussex.
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.