• xmlui.mirage2.page-structure.header.title
    • français
    • English
  • Help
  • Login
  • Language 
    • Français
    • English
View Item 
  •   BIRD Home
  • IRISSO (UMR CNRS 7170)
  • IRISSO : Publications
  • View Item
  •   BIRD Home
  • IRISSO (UMR CNRS 7170)
  • IRISSO : Publications
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Browse

BIRDResearch centres & CollectionsBy Issue DateAuthorsTitlesTypeThis CollectionBy Issue DateAuthorsTitlesType

My Account

LoginRegister

Statistics

Most Popular ItemsStatistics by CountryMost Popular Authors
Thumbnail - Request a copy

Toward investee's capitalism: A civic-market compromise

Charron, Jacques-Olivier (2015), Toward investee's capitalism: A civic-market compromise, Futures, 68, p. 19-30. http://dx.doi.org/10.1016/j.futures.2015.02.005

Type
Article accepté pour publication ou publié
Date
2015-04
Journal name
Futures
Volume
68
Pages
19-30
Publication identifier
http://dx.doi.org/10.1016/j.futures.2015.02.005
Metadata
Show full item record
Author(s)
Charron, Jacques-Olivier
Abstract (EN)
Thirty years ago, capitalism shifted from a civic-industrial compromise to an industrial-market compromise. It may now be on the eve of morphing into a civic-market one. To understand why and how this could happen, we analyze the legitimacy crisis of capitalism and explore a possible outcome. This crisis is considered as a crisis of the legitimacy of financial markets, stemming from a gap between their justification and characteristics of the goods traded on it, i.e. financial assets. We first show the lack of any intrinsic utility of these goods makes the markets where they are traded impossible to legitimize within a market order. Then their legitimation within the industrial order or an industrial-market compromise is described as highly problematic. Given these difficulties, we narrow the focus on the question of the legitimation of the valuation of financial assets. Their dual nature of both tradable and representative items makes us suggest a civic-market compromise, which would make finance more symmetrical by making valuation political. We then show such a perspective is obscured by the pervasive strength of the investor's point of view, but also that the mounting debates on public and private debt may provide opportunities for the development of such an “investee's capitalism”.
Subjects / Keywords
Valuation; Compromise; Capitalism; Financial asset; Investee; Investor

Related items

Showing items related by title and author.

  • Thumbnail
    Valuing financial assets out of markets: a case for disconnecting the valuation function from the exchange function of financial markets 
    Charron, Jacques-Olivier (2013-07) Communication / Conférence
  • Thumbnail
    Transacting Without Pricing, Pricing Without Transacting 
    Charron, Jacques-Olivier (2013) Article accepté pour publication ou publié
  • Thumbnail
    Une approche sociologique de la régulation financière en train de se faire : le cas d'UCITS V 
    Charron, Jacques-Olivier (2013-06) Communication / Conférence
  • Thumbnail
    Sails and Hilbert bases 
    Moussafir, Jacques-Olivier (2000) Article accepté pour publication ou publié
  • Thumbnail
    Quaternionic linear fractional transformations and direct isometries of H5 
    Moussafir, Jacques-Olivier (2001) Article accepté pour publication ou publié
Dauphine PSL Bibliothèque logo
Place du Maréchal de Lattre de Tassigny 75775 Paris Cedex 16
Phone: 01 44 05 40 94
Contact
Dauphine PSL logoEQUIS logoCreative Commons logo