L'ordre de la dette

Lemoine, Benjamin

doi:10.3917/dec.lemoi.2016.01

Cited by 132 publications

(6 citation statements)

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“…Fuente: Elaboración propia Lo que nos concierne es que la teoría monetaria mainstream, con el añadido sobre lo que podríamos llamar teoría clásica, de la financiación vía mercados monetarios, ha abierto la puerta a la expansión de los mercados financieros y a la creación, a escala planetaria, de lo que se ha llamado «l'ordre de la dette» (Lemoine, 2016) que sirve al objetivo de disciplinar las democracias en favor de la acumulación de capital ficticio (Lemoine, 2022). Democracias que no responden a las gentes del común (Crouch, 2004), (Crouch, 2011).…”

Section: ¿Cómo Es Posible Que El Incremento Masivo De Activos Monetar...unclassified

El particular momento del dominio por el capital ficticio

Núñez

2024

REG

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The financialized capitalism characteristic of our time is not new. There have been other periods in which fictitious capital has been, if not dominant, a relevant form of capital. It is notable that the fictitious capital has reached, in quantitative terms, values never previously achieved in history. The essential causes of this dominance, the growing imbalance between the different forms of capital and between it and work, are not new either. It is the interaction between these “traditional” causes and factors typical of our time, a currency that is both a country's currency and a world currency, the infrastructural power of central banks and the scale of the latest wave of globalization, accelerated by the digitalization of societies, which allows us to characterize our time. The spiral generated by the relationship between these factors and the political systems of liberal democracy that emerged from the Cold War, makes these systems particularly irreformable. That is why crises of various types accumulate and the ability to resolve them without violence are becoming negligible. A wave of instability on a global scale appears inevitable. El capitalismo financializado característico de nuestra época no es nuevo. Ha habido otros períodos en los cuales el capital ficticio ha sido la forma, si no dominante, si muy relevante, del capital. Si es reseñable que ha alcanzado en términos cuantitativos unos valores nunca alcanzados previamente en la historia. Las causas esenciales de esa dominancia, el creciente desequilibrio entre las diferentes formas de capital y entre este y el trabajo, tampoco son nuevas. Es la interacción entre esas causas y factores propios de la época, una moneda que es al tiempo moneda de país y moneda mundo, el poder infraestructural de los bancos centrales y la escala de la última ola de globalización, acelerada por la digitalización de las sociedades, que permite caracterizar nuestra época. La espiral generada por la relación entre estos factores y los sistemas políticos de democracia liberal que emergieron de la guerra fría, hace de estos sistemas particularmente irreformables. Es por ello que las crisis de diverso tipo se acumulan y la capacidad de resolverlas sin violencia es cada vez menor. Una ola de inestabilidad a escala global se vislumbra como inevitable.

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Section: ¿Cómo Es Posible Que El Incremento Masivo De Activos Monetar...unclassified

El particular momento del dominio por el capital ficticio

Núñez

2024

REG

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“…It highlights, for example, the increasing weight of the financial sector and the inflow of foreign capital into the domestic economy. These changes are connected to the waves of privatization of public companies, banks, and government financing, which were led by the State itself (Coriat, 2008;Dudouet and Grémont, 2009;Lemoine, 2016). The second strand of research focuses on developments at the micro-level of managers and firms.…”

Section: Financialization In Francementioning

confidence: 99%

“…We can find a more thorough explanation looking at the political context that has been guiding public spending and debt management in the country under financialized capitalism. As Lemoine (2016) describes, there has been a major shift in the primary form of public financing in the 1970s from State-administered strategies to the selling of tradeable bonds in global financial markets, creating financial debt. Far from a natural movement, this shift reconfigured the social and political order to legitimize and reproduce financial power over time, giving rise to a so-called 'Debt Order'.…”

Section: Lessons From the French Casementioning

confidence: 99%

Public health systems in the age of financialization: lessons from the French case

Cordilha

2021

Review of Social Economy

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Public Health Systems (PHS) are under continuous transformation in line with economic, political, and ideological changes in capitalist economies. The current stage of capitalism is underpinned by the process of financialization, meaning an increasing dominance of financial actors, markets, practices, measurements, and narratives over other agents, including the State. This article examines how financialization has been reshaping PHS, with an in-depth study of the French case. First, we suggest how to incorporate the concept of financialization into the research on PHS transformation. We then apply this concept to reassess the trajectory of the French system from the 1990s onwards. We show the increasing participation of financial capital for long-term, short-term, and infrastructure financing, occupying roles previously fulfilled by the public sector. We then discuss how the adoption of financialized strategies led to shifts in how public actors behave, and the potentially adverse effects for solidarity, stability, and democratic participation.

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“…L'État de consolidation budgétaire est incontestablement d'inspiration lippmanienne par sa volonté de mettre à distance, voire de neutraliser, tout intérêt susceptible de contrarier « l'ordre de la dette » (Lemoine, 2016) 17 . On rejoint ici les analyses de Todd, fortement inspirées par le Marx du 18 Brumaire de Napoléon Bonaparte : plus la « société civile » et l'économie s'affaiblissent, plus l'État se renforce, mais dans un sens autoritaire.…”

Section: Quand L'état De Consolidation Bute Sur La « Citoyenneté Biol...unclassified

Agences régionales de santé : mission impossible

Pierru¹

2020

Revue Française d'Administration Publique

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Distribution électronique Cairn.info pour Institut national du service public. © Institut national du service public. Tous droits réservés pour tous pays.La reproduction ou représentation de cet article, notamment par photocopie, n'est autorisée que dans les limites des conditions générales d'utilisation du site ou, le cas échéant, des conditions générales de la licence souscrite par votre établissement. Toute autre reproduction ou représentation, en tout ou partie, sous quelque forme et de quelque manière que ce soit, est interdite sauf accord préalable et écrit de l'éditeur, en dehors des cas prévus par la législation en vigueur en France. Il est précisé que son stockage dans une base de données est également interdit.

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L'ordre de la dette

Cited by 132 publications

References 0 publications

El particular momento del dominio por el capital ficticio

El particular momento del dominio por el capital ficticio

Public health systems in the age of financialization: lessons from the French case

Agences régionales de santé : mission impossible

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