Finance, Production and Panopticism: inequality, risk and resistance in an era of disciplinary neo-liberalism
Recent growth in the power of capital relative to labour and in the way it reconstitutes certain ideas, identities and interests, and forms of state, is the primary political content of the processes of globalization, but this content is always localized and refracted through various social and cultural forms. The globalization process is a hierarchical one, and is associated with economic constraints and political pressures — or forms of discipline in society. One way to understand the functioning of aspects of power and discipline in the specific conditions of North American civilization — and to a degree in other OECD societies — is with reference to the Panopticon: the blueprint for the perfect prison that Michel Foucault (1979) took from the utilitarian social engineer Jeremy Bentham (1859).
KeywordsInterest Rate Credit Card Institutional Investor Pension Fund Credit Rating
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