Financialization and Everyday International Political Economy: Financial Inclusion
DOI:
https://doi.org/10.61462/cujss.v50i1.709Keywords:
financialization, everyday international political economy, financial inclusionAbstract
This paper focuses on how financialization has permeated the everyday lives of ordinary people, particularly poor people in the global South through ‘financial inclusion’. The conceptual framework of this paper bridges the concept of financialization with Everyday International Political Economy to study financial inclusion. It argues that financial inclusion is an economic development project where the state is an active agent in facilitating and mobilizing global financial corporations and international organizations, so that the poor embrace and adopt financialization and its financial logic. The financial inclusion project shapes and constructs the identities of the poor to become financial subjects or entrepreneurs who follow financial scripts in their everyday lives. It also argues that the financial inclusion project directs attention away from seeing how markets create inequality, and thereby expands and empowers global finance corporations and global capitalism.
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