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Making Government Liquid: Shifts in Governance Using Financialisation as a Political Device

Author

Listed:
  • Paul du Gay

    (Department of Organization, Copenhagen Business School, Kilen, Kilevej 14A, K4.58, 2000, Fredericksberg, Denmark)

  • Yuval Millo

    (School of Management, University of Leicester, Ken Edwards Building, University Road, Leicester LE1 7RH, England)

  • Penelope Tuck

    (Warwick Business School, Scarman Road, The University of Warwick, Coventry CV4 7AL, England)

Abstract

The financialised character of contemporary rationalities of public governance has been the subject of increased attention within a range of disciplinary and interdisciplinary fields. With this paper we propose a particular analytical framework, focused on the notion of ‘governance devices’, for understanding the processes that underpin financialised governance and, more fundamentally, maintain the connections between markets and politics. Deploying three distinct cases, we indicate that these devices transcend divisions between the actor and the device and create a different form of agency—an assemblage. We argue that understanding such assemblages—their emergence, activity, and, frequently, their failures—opens a window on analysing the nature of contemporary forms of financialised governance as a technosocial system. In so doing we suggest that the governance devices approach can offer a way of challenging contemporary governance orthodoxies, retracing governments' lost responsibilities and resurfacing their ‘core tasks’.

Suggested Citation

  • Paul du Gay & Yuval Millo & Penelope Tuck, 2012. "Making Government Liquid: Shifts in Governance Using Financialisation as a Political Device," Environment and Planning C, , vol. 30(6), pages 1083-1099, December.
    • Handle: RePEc:sae:envirc:v:30:y:2012:i:6:p:1083-1099
    DOI: 10.1068/c11290
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    References listed on IDEAS

    as
    1. Khadaroo, Iqbal, 2008. "The actual evaluation of school PFI bids for value for money in the UK public sector," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 19(8), pages 1321-1345.
    2. Rob Ball & Maryanne Heafey & David King, 2002. "The Private Finance Initiative and Public Sector Finance," Environment and Planning C, , vol. 20(1), pages 57-74, February.
    3. John Hall, 1998. "Private opportunity, public benefit?," Fiscal Studies, Institute for Fiscal Studies, vol. 19(2), pages 121-140, May.
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