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Resocializing Capital: Putting Pension Savings in the Service of "Financial Pluralism"?

Department of Geography, Planning with International Studies of the Universiteit van Amsterdam e.r.engelen{at}uva.nl

Since the late 1980s, social scientists have argued that advanced economies have undergone a process of financial concentration that is resulting in a growing unevenness of the accessibility of capital. Households, small and medium-sized businesses as well as non-standard economic activities have increasing difficulties in finding funds. There are both sound economic and compelling moral reasons to address this issue. In order to ensure a more equal accessibility of capital, the author proposes a mandatory levy on the surpluses of mainstream pension funds to fund an alternative financial infrastructure as a first step to redressing unevenness. The underlying rationale is that "financial pluralism" is the key to a more even accessibility of capital.

Key Words: pension funds • financial exclusion • financial pluralism • globalization

Politics & Society, Vol. 34, No. 2, 187-218 (2006)
DOI: 10.1177/0032329206288151


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