By N. Wariboko
Wariboko bargains a critical-philosophical standpoint at the logics and dynamics of finance capital within the twenty-first century with a purpose to craft a version of the care of the soul that would allow electorate not to simply higher negotiate their financial existences and ethical reviews inside it, but in addition withstand its destructive effect on social life.
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Additional info for Economics in Spirit and Truth: A Moral Philosophy of Finance
Sample text
This is what it means to be ruled by chance. Finance is all about risk-taking, calculation of risks, the “favor of heaven and fortune,” which has no foundation. The excesses of finance capital do not have anything to do with supposed madness for profit. ”5 The very finance-induced distortions, deficiencies of the modern economy, that we do observe report the very working or nature of the modern economy. The form of the economy has been contaminated by its very finance-content. Finance is inscribed into the economy as its uncanny distortion; so economy and finance share the same logical form.
How does the irreducible free act of the possible breaking out of the causal connections of institutions and regulations affect the working of finance, especially the 2008 collapse? Theology of money needs to respond to this question in the light of the tendency of finance toward excess, surplus, infinitizing impulse. Our next site for investigating the truths of finance is faith as the mixed situation where totality and infinity are made to coincide as belief and faith. Faith as the fidelity to an event is noncalculative and calls for a forgoing of the world for the sake of one’s confidence in an event.
The basic question that animates fundamental accounting is: What kind of equality is adequate to encode the forced self-identity of the economy? Accounting purports to provide a universal grammar so that everything could be discerned, named, classified, and counted. But this “power” of discernment, the capability to express totality itself, is always already disrupted by the unnameable element of claims and encounter between persons. There is no finance prior to accounting, the radical homogeneity of credit and debit.