The Limits of Ignorance: Financial Literacy and the Corporate Governmentalization of the 'Business of Life'

Erik Højbjerg

The Limits of Ignorance: Financial Literacy and the Corporate Governmentalization of the 'Business of Life'

Erik Højbjerg

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Abstract

This paper is a work‐in-progress.The purpose of the paper is programmatic in the sense that it tries to formulate elements of a research agenda revolving around the issue of corporate governmentalization. By this term I intend to indicate ways in which companies seek to construe and mobilize consumer subjectivities whose consuming practices involve the self-management of the individual along etho-political goals of good governance. The back-‐drop of this topic is the investigation of the forms of contemporary social and political transformation, with a focus on the transformative powers of ‘politicized private enterprises’ or the ‘political corporation’. The research question is: How do corporations seek to construe and mobilize responsible citizens by offering products and services, the consumption of which are assumed to transform the individual's self-relationship along proclaimed ethical and political goals? The research question will be discussed in the context of financial literacy educational initiatives. In the aftermath of the 2008 global financial crisis, increasing the financial literacy of ordinary citizen-‐consumers has taken a prominent position among regulators and financial institutions alike. The logic seems to be that financially capable individuals will enjoy social and political inclusion as well as an ability to exercise a stronger influence in markets.The paper specifically contributes to our understanding of the governmentalization of the present by addressing how - at least in part - the corporate spread of financial literacy educational initiatives can be observed as a particular form of power at-a-distance. The focus is on the role of private enterprise in governmentalizing the‘business of life’ by establishing and mobilizing specific conceptual forms around which the life skills of the entrepreneurial self involves a responsibilization of the individual citizen-consumer.

Original language	English
Publication date	Apr 2014
Number of pages	29
Publication status	Published - Apr 2014
Event	The 5th Latin American and European Meeting on Organizational Studies. LAEMOS 2014 - Havanna, Cuba Duration: 2 Apr 2014 → 5 Apr 2014 Conference number: 5 http://laemos.com/index.html

Conference

Conference	The 5th Latin American and European Meeting on Organizational Studies. LAEMOS 2014
Number	5
Country/Territory	Cuba
City	Havanna
Period	02/04/2014 → 05/04/2014
Internet address	http://laemos.com/index.html

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title = "The Limits of Ignorance: Financial Literacy and the Corporate Governmentalization of the 'Business of Life'",

abstract = "This paper is a work‐in-progress.The purpose of the paper is programmatic in the sense that it tries to formulate elements of a research agenda revolving around the issue of corporate governmentalization. By this term I intend to indicate ways in which companies seek to construe and mobilize consumer subjectivities whose consuming practices involve the self-management of the individual along etho-political goals of good governance. The back-‐drop of this topic is the investigation of the forms of contemporary social and political transformation, with a focus on the transformative powers of {\textquoteleft}politicized private enterprises{\textquoteright} or the {\textquoteleft}political corporation{\textquoteright}. The research question is: How do corporations seek to construe and mobilize responsible citizens by offering products and services, the consumption of which are assumed to transform the individual's self-relationship along proclaimed ethical and political goals? The research question will be discussed in the context of financial literacy educational initiatives. In the aftermath of the 2008 global financial crisis, increasing the financial literacy of ordinary citizen-‐consumers has taken a prominent position among regulators and financial institutions alike. The logic seems to be that financially capable individuals will enjoy social and political inclusion as well as an ability to exercise a stronger influence in markets.The paper specifically contributes to our understanding of the governmentalization of the present by addressing how - at least in part - the corporate spread of financial literacy educational initiatives can be observed as a particular form of power at-a-distance. The focus is on the role of private enterprise in governmentalizing the{\textquoteleft}business of life{\textquoteright} by establishing and mobilizing specific conceptual forms around which the life skills of the entrepreneurial self involves a responsibilization of the individual citizen-consumer.",

author = "Erik H{\o}jbjerg",

year = "2014",

month = apr,

language = "English",

note = "The 5th Latin American and European Meeting on Organizational Studies. LAEMOS 2014 ; Conference date: 02-04-2014 Through 05-04-2014",

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T1 - The Limits of Ignorance

T2 - The 5th Latin American and European Meeting on Organizational Studies. LAEMOS 2014

AU - Højbjerg, Erik

N1 - Conference code: 5

PY - 2014/4

Y1 - 2014/4

N2 - This paper is a work‐in-progress.The purpose of the paper is programmatic in the sense that it tries to formulate elements of a research agenda revolving around the issue of corporate governmentalization. By this term I intend to indicate ways in which companies seek to construe and mobilize consumer subjectivities whose consuming practices involve the self-management of the individual along etho-political goals of good governance. The back-‐drop of this topic is the investigation of the forms of contemporary social and political transformation, with a focus on the transformative powers of ‘politicized private enterprises’ or the ‘political corporation’. The research question is: How do corporations seek to construe and mobilize responsible citizens by offering products and services, the consumption of which are assumed to transform the individual's self-relationship along proclaimed ethical and political goals? The research question will be discussed in the context of financial literacy educational initiatives. In the aftermath of the 2008 global financial crisis, increasing the financial literacy of ordinary citizen-‐consumers has taken a prominent position among regulators and financial institutions alike. The logic seems to be that financially capable individuals will enjoy social and political inclusion as well as an ability to exercise a stronger influence in markets.The paper specifically contributes to our understanding of the governmentalization of the present by addressing how - at least in part - the corporate spread of financial literacy educational initiatives can be observed as a particular form of power at-a-distance. The focus is on the role of private enterprise in governmentalizing the‘business of life’ by establishing and mobilizing specific conceptual forms around which the life skills of the entrepreneurial self involves a responsibilization of the individual citizen-consumer.

AB - This paper is a work‐in-progress.The purpose of the paper is programmatic in the sense that it tries to formulate elements of a research agenda revolving around the issue of corporate governmentalization. By this term I intend to indicate ways in which companies seek to construe and mobilize consumer subjectivities whose consuming practices involve the self-management of the individual along etho-political goals of good governance. The back-‐drop of this topic is the investigation of the forms of contemporary social and political transformation, with a focus on the transformative powers of ‘politicized private enterprises’ or the ‘political corporation’. The research question is: How do corporations seek to construe and mobilize responsible citizens by offering products and services, the consumption of which are assumed to transform the individual's self-relationship along proclaimed ethical and political goals? The research question will be discussed in the context of financial literacy educational initiatives. In the aftermath of the 2008 global financial crisis, increasing the financial literacy of ordinary citizen-‐consumers has taken a prominent position among regulators and financial institutions alike. The logic seems to be that financially capable individuals will enjoy social and political inclusion as well as an ability to exercise a stronger influence in markets.The paper specifically contributes to our understanding of the governmentalization of the present by addressing how - at least in part - the corporate spread of financial literacy educational initiatives can be observed as a particular form of power at-a-distance. The focus is on the role of private enterprise in governmentalizing the‘business of life’ by establishing and mobilizing specific conceptual forms around which the life skills of the entrepreneurial self involves a responsibilization of the individual citizen-consumer.

M3 - Paper

Y2 - 2 April 2014 through 5 April 2014

ER -