Abstract
Our current globalized economic regimes of financialized capital have systematically altered relations of learning and labour through the dynamics of precarity, debt, and the political economy of new wars. The risks of these regimes are absorbed unevenly across transnational landscapes, creating cartographies of violence and dispossession, particularly among youth, indigenous, working class, and racialized women. Presently there is surprisingly little discussion on the relevance of financialization for adult educators. Transnational resistances organizing against neoliberal restructuring, austerity policies, and debt crises are emerging at the same time that massive investments are being made into homeland security and the carceral state. This paper opens up discussion on the implications of financialized times for educators, and develops an analytic framework for examining how these global realities are best addressed at local sites of adult and higher education.
Highlights
Our current globalized economic regimes of financialized capital have systematically altered relations of learning and labour through the dynamics of precarity, debt, and the political economy of new wars
This paper develops some organizing frameworks through which we can better understand the implications of financialization for adult and higher education in terms of its gendered and racialized transnational materialities
The most critical organizing frame introduced in the paper is that which connects financialization to the literature on monopoly finance capital, and the implications for understanding the material underpinnings of ‘the new imperialism’ (Harvey, 2003)
Summary
The financialization of capital goes hand in hand with the topic of neoliberal economics, and yet has received comparatively little attention. This paper develops some organizing frameworks through which we can better understand the implications of financialization for adult and higher education in terms of its gendered and racialized transnational materialities. The most critical organizing frame introduced in the paper is that which connects financialization to the literature on monopoly finance capital, and the implications for understanding the material underpinnings of ‘the new imperialism’ (Harvey, 2003). Financialization can be broadly defined as the increasing importance of financial markets in the sum total of international economic activity (Dore, 2000) It can be understood in terms of the importance of the stock market with regard to capital accumulation. Linking financialization to monopoly capital is critical to the analysis provided in this paper in that monopolization is the historical process crucial to understanding the globalized organization of neocolonialism as imperialism (Nkrumah, 1965). I discuss the implications of financialization for adult and higher education in an era of globalization
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