The Great Disintegration: Financialization and the Transformation of Democratic Citizenship

Engaging in the debate on the crisis of democracy, this book examines how the financialization of capitalism in the late twentieth century transforms democratic citizenship. I suggest that financialization’s impact goes beyond the issues often emphasized by critics of neoliberalism, such as the erosion of the common good, civic virtue, and solidarity. More fundamentally, financialization alters some of the basic presuppositions of democratic citizenship such as rationality, private property, and the relations of social interdependence—presuppositions that supported the demand for equal political standing and became the moral pillars of many Western democracies in the middle of the twentieth century. I examine modern finance’s distinct features and operation and show how it destabilizes the foundational terms of political integration and consequently the very grounds of democratic contestation.



“Financialization and the Instabilities of Neoliberal Citizenship”

“Beyond Non-Domination: Freedom and Democracy in the Age of Finance Capital”

“Subsidized Citizenship: The Evolution of Consumer Sovereignty”