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Benjamin Lee, E. Lipuma (2004)
Financial Derivatives and the Globalization of Risk
- Publisher
- Wiley
- Copyright
- © The Author. Journal compilation © Blackwell Publishing Ltd.
- ISSN
- 1351-0487
- eISSN
- 1467-8675
- DOI
- 10.1111/j.1467-8675.2009.00534.x
- Publisher site
- See Article on Publisher Site
Abstract
A critical theory of world risk society must address at least three questions: (1) What is the basis of the critique? What is “critical” about this critical theory? (The question of the normative horizon of the world risk society) (2) What are the key theses and core arguments of this theory? Is it an empirical theory of society with critical intent? (3) To what extent does this theory break with the automatisms of modernization and globalization which have taken on a life of their own and rediscover the openness of human action to the future at the beginning of the 21 st century political perspectives, cosmopolitan alternatives ? 1. The Normative Horizon of World Risk Society: Normative and Descriptive Cosmopolitanism The category of risk and its ambivalences It is easy to underestimate the subtlety of the sociological category of risk: – First there is its boundless thirst for reality: the category of risk consumes and transforms everything. It obeys the law of all or nothing. If a group represents a risk, its other features disappear and it becomes defined by this “risk.” It is marginalized and threatened with exclusion. – Classical distinctions merge into greater or lesser degrees
Journal
Constellations: An International Journal of Critical and Democratic Theory – Wiley
Published: Mar 1, 2009