Macro-finance and the financialisation of economic policy

Abstract

Reflecting on the broad ambitions of macro-finance, I argue that the commitment to placing finance at the centre of our economic conceptions comes with significant risks that speak directly to the politics of financialisation. By redirecting the focus of economic governance towards finance, macro-finance may consolidate rather than challenge the problematic trends of global finance. More specifically, I argue that the focus of the money view on liquidity has contributed to depoliticising financial governance and aligning it further with the demands of financialisation.