The Handbook of Diverse Economies
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The Handbook of Diverse Economies

Edited by J. K. Gibson-Graham and Kelly Dombroski

Economic diversity abounds in a more-than-capitalist world, from worker-recuperated cooperatives and anti-mafia social enterprises to caring labour and the work of Earth Others, from fair trade and social procurement to community land trusts, free universities and Islamic finance. The Handbook of Diverse Economies presents research that inventories economic difference as a prelude to building ethical ways of living on our dangerously degraded planet. With contributing authors from twenty countries, it presents new thinking around subjectivity and methodology as strategies for making other worlds possible.
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Chapter 37: Framing essay: the diversity of finance

Maliha Safri and Yahya M. Madra

Abstract

This framing chapter explores how a diverse economies approach is different to a conventional approach to finance. There are a broad range of actors, institutions, arrangements and markets that comprise the domestic financial sphere and equally there are numerous channels through which financial intermediation occurs. Finance can be speculative (leading to booms and busts), wasteful (as when assets are traded without increasing productive capacities) and extractive; or finance can be emancipatory and solidaristic such that it nurtures and sustains community-oriented activities and ethical commitments. By seeing finance through a lens of diversity, new political possibilities are generated for supporting communities, deepening social relations and solidarity, rebalancing power, and promoting social cooperation and stability.

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