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Financial value: economic, moral, political, global

Author

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  • Horacio Ortiz

    (CSI i3 - Centre de Sociologie de l'Innovation i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique)

Abstract

Based on participant observation, this paper analyzes the professional everyday of employees of the financial industry. For them, giving financial value to a social activity means determining technically the monetary revenue that can be obtained from it. But it also means including it in a hierarchy of access to credit, according to liberal moral and political considerations found in financial regulation and financial theory, aiming to create efficient markets where individual investors would meet, leading to an optimal allocation of global monetary resources. Thus, this case shows that everyday practice in the financial industry challenges the opposition, found in Weber and in neo-liberalism, between an economic value (in the singular) and moral and political values (in the plural). Following Mauss and current trends in the anthropology of money, the paper concludes that the concept of value should not be an analytic tool, but is part of the object we study, as one of the ways in which the people observed make sense of their own practice.

Suggested Citation

  • Horacio Ortiz, 2013. "Financial value: economic, moral, political, global," Post-Print hal-00869852, HAL.
    • Handle: RePEc:hal:journl:hal-00869852
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    Citations

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    Cited by:

    1. Tariq Rahman, 2022. "Landscapes of rizq: Mediating worldly and otherworldly in Lahore's speculative real estate market," Economic Anthropology, Wiley Blackwell, vol. 9(2), pages 297-308, June.
    2. Stefan Ouma, 2020. "This can(’t) be an asset class: The world of money management, “society†, and the contested morality of farmland investments," Environment and Planning A, , vol. 52(1), pages 66-87, February.
    3. Sean Field, 2023. "Value as ethics: Climate change, crisis, and the struggle for the future," Economic Anthropology, Wiley Blackwell, vol. 10(2), pages 177-185, June.
    4. Ipshita Ghosh, 2020. "Investment, value, and the making of entrepreneurship in India," Economic Anthropology, Wiley Blackwell, vol. 7(2), pages 190-202, June.
    5. Sarah Ruth Sippel, 2018. "Financialising farming as a moral imperative? Renegotiating the legitimacy of land investments in Australia," Environment and Planning A, , vol. 50(3), pages 549-568, May.
    6. Charron Jacques-Olivier, 2017. "Inefficient Debate. The EMH, the “Remarkable Error” and a Question of Point of View," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 7(3), pages 1-24, December.
    7. Michael Barrett & Eivor Oborn & Wanda Orlikowski, 2016. "Creating Value in Online Communities: The Sociomaterial Configuring of Strategy, Platform, and Stakeholder Engagement," Information Systems Research, INFORMS, vol. 27(4), pages 704-723, December.
    8. Horacio Ortiz, 2022. "Political Imaginaries of the Weighted Average Cost of Capital: A Conceptual Analysis," Post-Print halshs-03513082, HAL.
    9. Sean Field, 2022. "Risk and responsibility: Private equity financiers and the US shale revolution," Economic Anthropology, Wiley Blackwell, vol. 9(1), pages 47-59, January.
    10. Ryan B. Anderson, 2022. "The taboo of retreat: The politics of sea level rise, managed retreat, and coastal property values in California," Economic Anthropology, Wiley Blackwell, vol. 9(2), pages 284-296, June.

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