Beyond debt and equity: Dissecting the red herring and a path forward for normative critiques of finance.
A recurring theme in academic, moralizing, and religious discourses laments the individual and societal perils of debt and praises equity. Contemporary Islamic banking and finance is one conspicuous example. This article recontextualizes this conversation by demonstrating that since the 1980s financ...
| Publicado en: | Focaal no. 93; pp. 60 - 75 |
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| Formato: | Artículo |
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Berghahn Books
2022
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=157739302&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 157739302 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 09201297 LSZ jtl: Focaal issn: 09201297 maglogo: N pubinfo: dt: 2022 iid: 93 pid: 1130 pub: Berghahn Books artinfo: ui: 157739302 10.3167/fcl.2022.930105 ppf: 60 ppct: 15 formats: fmt: @attributes: type: P size: 553KB tig: atl: Beyond debt and equity: Dissecting the red herring and a path forward for normative critiques of finance. aug: au: Pitluck, Aaron Z. affil: Illinois State University, USA su: Debt Authorship Social change Financial instruments Islamic finance sug: subj: Debt Authorship Social change Other Financial Vehicles Financial instruments Islamic finance keyword: credit cultural economy debt equity finance interest-free banking Islam riba credit cultural economy debt equity finance interest-free banking Islam riba ab: A recurring theme in academic, moralizing, and religious discourses laments the individual and societal perils of debt and praises equity. Contemporary Islamic banking and finance is one conspicuous example. This article recontextualizes this conversation by demonstrating that since the 1980s financial practitioners have been interpreting debt and equity as increasingly illegible cognitive schemas that nonetheless retain their historical and moral connotations. This line of argumentation suggests that normatively contrasting debt and equity is a red herring—a literary device and theoretical construct that misleads and distracts from the fundamental discussion of what constitutes salubrious or odious finance. Little will change in social life if we seek to replace "debt" with "equity." Rather, since all financial instruments describe social relationships, our conversation should turn to normatively proscribing the kinds of financial instruments that match our normative values for contractual relationships. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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