Skip to main content Accessibility help
×
Hostname: page-component-586b7cd67f-g8jcs Total loading time: 0 Render date: 2024-11-22T15:38:18.472Z Has data issue: false hasContentIssue false

5 - Definancialisation

Published online by Cambridge University Press:  21 May 2021

Thomas Marois
Affiliation:
SOAS University of London & UCL Institute for Innovation and Public Purpose
Get access

Summary

Chapter 5 argues that the definancialisation functions of the Indian National Bank for Agriculture and Rural Development (NABARD) and the American Bank of North Dakota (BND) help these institutions persist as credible public banks in their class-divided societies. As with decarbonisation so too with definancialisation. Contradictions arise and struggles endure over who benefits from what public banks do. Public banks can shield workers, the poor and marginalised, micro-, small-, and medium-sized enterprises (MSMEs), the public sector, and spatial regions (rural/urban) from the discipline of financialised market imperatives. Public banks can similarly shield finance capital, the wealthy and privileged, large financial and non-financial corporations, and even the financial world market from these same financial imperatives, entrenching their unequal power over social reproduction.

Type
Chapter
Information
Public Banks
Decarbonisation, Definancialisation and Democratisation
, pp. 147 - 185
Publisher: Cambridge University Press
Print publication year: 2021

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×