Social Justice and Financial Capitalism: Some Notions on Risks, Hierarchies, and Value

Teppo Eskelinen

Abstract


The recurring financial crises and intensive financialisation force a reconsideration of theories of justice. This article analyses financial capitalism as an ideal-type. In ideal-typical financial capitalism, risks and positions of vulnerability take a pronounced role in the determination of social positions. Risks also come in a specific ontological form. Further, the analysis extends to the production of value in financial capitalism and its relation to a particular logic of determining social positions. The article discusses, how should theories of justice be updated to accommodate this particular ontology of risks. This requires also making a distinction between explicit and implicit priority orders in a society.

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DOI: http://dx.doi.org/10.20919/sspt.27.2017.72

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