Centring labour in financialization

Abstract

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From Multiple Deprivations to Exploitation: Politicizing the Multidimensional Poverty Index

“…Of significance here is that underlying the recourse to debt relations as mechanisms for widening access to basic services in the first place is arguably the radically uneven distribution of resources in the global political economy. The turn to various self‐help or debt‐based poverty alleviation interventions, and the wider ‘private turn’ in development financing in recent decades, has often expressly been justified in terms of the co‐existence of restrictive fiscal constraints faced by peripheral states and deep pools of capital in global financial markets (see Bernards 2022, 2023).…”

Poverty finance and the durable contradictions of colonial capitalism: Placing ‘financial inclusion’ in the long run in Ghana

“…What's especially useful in Marx's approach here is the emphasis on positioning secondary forms of exploitation in relation to the 'primary' exploitation of land and labour. Marx positions relations of indebtedness at the nexus of capital accumulation and the exploitation of labour (see Bernards 2020). Marx notes that 'it is precisely this process of [money] as capital which the interest of the lending money-capitalist is based on and from which it derives ' (1991: 467).…”