Fairness through regulation? Reflections on a cosmopolitan approach to global finance
In the aftermath of the last financial crisis a strong message prevails that ‘something’ has to be changed in the manner global finance is governed. What exactly this ‘something’ entails and what could constitute the ‘common ground’ of anticipated change is more difficult to determine. Many envisage...
| Main Authors: | , |
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| Format: | Article |
| Language: | deu |
| Published: |
Editura ASE Bucuresti
2013-11-01
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| Series: | The Journal of Philosophical Economics |
| Subjects: | |
| Online Access: | http://www.jpe.ro/pdf.php?id=4996 |
| _version_ | 1811227333540970496 |
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| author | Marta Božina Beroš Marin Beroš |
| author_facet | Marta Božina Beroš Marin Beroš |
| author_sort | Marta Božina Beroš |
| collection | DOAJ |
| description | In the aftermath of the last financial crisis a strong message prevails that ‘something’ has to be changed in the manner global finance is governed. What exactly this ‘something’ entails and what could constitute the ‘common ground’ of anticipated change is more difficult to determine. Many envisage future improvements of global financial governance by evoking deliberative democracy, political equality and cosmopolitanism. As financial regulation is the main instrument through which global finance is shaped and governed nowadays, these principles should then be transmitted to regulatory arrangements. This paper focuses on a new conceptual approach to regulatory and governance issues in global finance, by employing the philosophical idea of cosmopolitanism. It argues that although as a concept, cosmopolitanism cannot mitigate all the flaws attributed to contemporary finance, its development and extension to international financial regulation that is promulgated by institutions of the global financial system, would represent a worthwhile endeavour in making global finance more accountable and just in the eyes of many. |
| first_indexed | 2024-04-12T09:40:54Z |
| format | Article |
| id | doaj.art-425a77e99b2b4288976f8aef4af164f6 |
| institution | Directory Open Access Journal |
| issn | 1843-2298 1844-8208 |
| language | deu |
| last_indexed | 2024-04-12T09:40:54Z |
| publishDate | 2013-11-01 |
| publisher | Editura ASE Bucuresti |
| record_format | Article |
| series | The Journal of Philosophical Economics |
| spelling | doaj.art-425a77e99b2b4288976f8aef4af164f62022-12-22T03:38:04ZdeuEditura ASE BucurestiThe Journal of Philosophical Economics1843-22981844-82082013-11-01VII1Fairness through regulation? Reflections on a cosmopolitan approach to global financeMarta Božina BerošMarin BerošIn the aftermath of the last financial crisis a strong message prevails that ‘something’ has to be changed in the manner global finance is governed. What exactly this ‘something’ entails and what could constitute the ‘common ground’ of anticipated change is more difficult to determine. Many envisage future improvements of global financial governance by evoking deliberative democracy, political equality and cosmopolitanism. As financial regulation is the main instrument through which global finance is shaped and governed nowadays, these principles should then be transmitted to regulatory arrangements. This paper focuses on a new conceptual approach to regulatory and governance issues in global finance, by employing the philosophical idea of cosmopolitanism. It argues that although as a concept, cosmopolitanism cannot mitigate all the flaws attributed to contemporary finance, its development and extension to international financial regulation that is promulgated by institutions of the global financial system, would represent a worthwhile endeavour in making global finance more accountable and just in the eyes of many.http://www.jpe.ro/pdf.php?id=4996Global financial systemFinancial governanceCosmopolitanismFinancial regulation |
| spellingShingle | Marta Božina Beroš Marin Beroš Fairness through regulation? Reflections on a cosmopolitan approach to global finance The Journal of Philosophical Economics Global financial system Financial governance Cosmopolitanism Financial regulation |
| title | Fairness through regulation? Reflections on a cosmopolitan approach to global finance |
| title_full | Fairness through regulation? Reflections on a cosmopolitan approach to global finance |
| title_fullStr | Fairness through regulation? Reflections on a cosmopolitan approach to global finance |
| title_full_unstemmed | Fairness through regulation? Reflections on a cosmopolitan approach to global finance |
| title_short | Fairness through regulation? Reflections on a cosmopolitan approach to global finance |
| title_sort | fairness through regulation reflections on a cosmopolitan approach to global finance |
| topic | Global financial system Financial governance Cosmopolitanism Financial regulation |
| url | http://www.jpe.ro/pdf.php?id=4996 |
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