Can Technology Democratize Finance?
نویسندگان
چکیده
Abstract This essay reviews two recent books—Marion Laboure and Nicolas Deffrennes's Democratizing Finance Eswar S. Prasad's The Future of Money —on financial technology (fintech) the future money. Both books present overviews developments in fintech assess prospects technological change to deliver a more accessible, equitable system—described both cases as “democratization finance.” I raise key concerns about limits “democratization” implied here. First, vision democratized finance implicit rests on claims widening access services for individuals, households, businesses. contrasts with substantive visions that entail exercise accountable, deliberative decision-making monetary questions. Second, “fintech democracy” very thin account how might be democratized, stressing exogenous change, little consideration relations power, institutional reforms, or mobilization. provide eloquent comprehensive emerging debates, but so doing ultimately reveal important limitations achieving democracy through fintech.
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ژورنال
عنوان ژورنال: Ethics & International Affairs
سال: 2023
ISSN: ['1747-7093', '0892-6794']
DOI: https://doi.org/10.1017/s0892679423000096