Relationalized Finance: Bridging the Chasm
This is the fifth and final section of an essay, "Relationalized Finance for Generative Living Systems and Bioregions," by David Bollier and Natasha Hulst. The full essay can be downloaded as a PDF here and at Natasha Hulst's Substack. Previous sections appeared in sequence immediately before this one, at these links: Section 1. Introduction & Reframing the Economy Around Bioregioning; 2. Commons as Relational Provisioning and Governance; 3. Toward a New Theory of Value (and Meaning): Living Systems as Generative; and 4. Toward Socio-ecological Markets.
5. Relationalized Finance: Bridging the Chasm
As should be clear by now, the core puzzle that relationalized finance seeks to mitigate or resolve is actually an ontological and cosmological clash that takes place in everyday circumstances. It’s a struggle between different notions of value and meaning. It’s the glimmer of a worldview that steps away from many premises of liberal-capitalist-modernity. Does humanity consist chiefly of rational, self-interested individuals seeking material gain through market exchange, and exploiting nature as a (dwindling) resource that stands separate and apart from humans? This is the cosmology of contemporary finance.
Or does humanity consist of interdependent, cooperative individuals nested within collectives, which themselves are nested in complicated ways within an animate Earth of countless living beings engaged in a symbiotic, evolutionary dance? We need a finance in sync with this world.
Without some adaptation of conventional finance and its implicit cosmology, capitalist finance will continue to inflict harm on nature and communities. It will continue to financialize life-systems as assets, and in so doing, superimpose an alien matrix of value and extractive production on them. So a key goal here is to help commoners secure much greater equity and control over their shared wealth, and to help them avoid becoming beholden to distant investors, lenders, and state authorities with their own empire-building priorities.
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