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    Financialization and value: why labour and the labour process still matter


    Cushen, Jean and Thompson, Paul (2016) Financialization and value: why labour and the labour process still matter. Work, Employment and Society, 30 (2). pp. 352-365. ISSN 0950-0170

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    Abstract

    Despite expanding literatures on financialization, scholarship exploring its relationship to labour and the labour process remains under-developed. A further obstacle has arisen from arguments that novel financialized modes of value extraction render the labour process and labour process analysis less relevant. This article challenges that view and explores how the labour process is still a vital focal point for value creation and extraction. It sets out what scholars should ‘look for’ to understand the ways in which distinctively financialized mechanisms operate in non-financial corporations and how these dynamics are translated into outcomes for and through labour. The article then provides four key propositions, drawing on labour process theory, which specify how those mechanisms are operationalized and their consequences.

    Item Type: Article
    Keywords: financialization; labour process; mechanisms; value extraction;
    Academic Unit: Faculty of Social Sciences > School of Business
    Item ID: 11235
    Identification Number: https://doi.org/10.1177/0950017015617676
    Depositing User: Jean Cushen
    Date Deposited: 11 Oct 2019 16:57
    Journal or Publication Title: Work, Employment and Society
    Publisher: Sage Publications
    Refereed: Yes
    URI:

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