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Books > Social sciences > Sociology, social studies > Social issues
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Global Justice & Finance (Hardcover)
Loot Price: R2,655
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Global Justice & Finance (Hardcover)
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Can global justice be promoted by distributing money more
equitably? Could even relatively small financial sacrifices by the
affluent work, through benign leverage, to achieve that goal?
Global Justice and Finance casts new light on such questions by
considering what is presupposed about finance. Redistributive
proposals assume money to be a reliable measure, store of value,
and medium of exchange. Yet maintaining stable interest, inflation,
and exchange rates in a dynamic capitalist economy is a
considerable achievement involving a complex financial system. Such
global coordination could, if so directed, contribute immensely to
humanity's betterment, yet under the direction of a profit seeking
elite it leaves a majority disempowered, impoverished, and
indebted. To pay debts, ever more desperate measures to wrest value
from the world's natural resources increase ecological pressures to
harmful extremes, and those pressures do not stop short of driving
wars. The profit seeking economy is held in place by the complex
legal arrangements that constitute finance. Globally, there has
developed, unannounced and unaccountably, what amounts to a
privatised constitution - binding agreements that transcend
sovereign jurisdictions. Hopes of redirecting the financial assets
created within this system, by means of modest reforms, towards
objectives of social justice and ecological sustainability may
prove illusory. To achieve such objectives arguably requires the
constitution of a global normative order guided by public and
political decision-making. The achievement of a publicly
accountable constitutional order that is superordinate to the
financial system might be regarded as a revolutionary
transformation.
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