- Title Pages
- List of figures, tables and boxes
- Notes on contributors
- Foreword
- Preface
- General introduction
-
Part I How data are changing:Part I editors:Humphrey Southall andJeff Evans -
1 Statistical work: the changing occupational landscape -
2 The creation and use of big administrative data -
3 Data analytics -
4 Social media data -
Part II Counting in a globalised world:Part II editors:Sally Ruane andJeff Evans -
5 Adult skills surveys and transnational organisations: globalising educational policy -
6 Using survey data: towards valid estimates of poverty in the South -
7 Counting the population in need of international protection globally -
8 Tax justice and the challenges of measuring illicit financial flows -
Part III Statistics and the changing role of the state:Part III editors:Sally Ruane andHumphrey Southall -
9 The control and ‘fitness for purpose’ of UK official statistics -
10 The statistics of devolution -
11 Welfare reform: national policies with local impacts -
12 From ‘welfare’ to ‘workfare’, and back again? Social insecurity and the changing role of the state -
13 Access to data and NHS privatisation: reducing public accountability -
Part IV Economic life: Part IV editors:Humphrey Southall ,Sally Ruane andJeff Evans -
14 The ‘distribution question’: measuring and evaluating trends in inequality -
15 Labour market statistics -
16 The financial system: money makes the world go around -
17 The difficulty of building comprehensive tax avoidance data -
18 Tax and spend decisions: did austerity improve financial numeracy and literacy? -
Part V Inequalities in health and wellbeing: Part V editors:Sally Ruane andHumphrey Southall -
19 Health divides -
20 Measuring social wellbeing -
21 Re-engineering health policy research to measure equity impacts -
22 The Generation Game: ending the phoney information war between young and old -
Part VI Advancing social progress through critical statistical literacy: Part VI editors:Jeff Evans ,Sally Ruane andHumphrey Southall -
23 The Radical Statistics Group: using statistics for progressive social change -
24 Lyme disease politics and evidence‑based policy making in the UK -
25 Counting the uncounted: contestations over casualisation data in Australian universities -
26 The quantitative crisis in UK sociology -
27 Critical statistical literacy and interactive data visualisations -
28 Full Fact -
29 What a difference a dataset makes? Data journalism and/as data activism - Epilogue: progressive ways ahead
- Index
The financial system: money makes the world go around
The financial system: money makes the world go around
- Chapter:
- (p.213) 16 The financial system: money makes the world go around
- Source:
- Data in Society
- Author(s):
Rebecca Boden
- Publisher:
- Policy Press
This chapter argues that money is data reified through financial systems, which in turn constitute and reflect dominant global power structures. Financial systems have hegemonic power over the ‘real economy’, significantly affecting the everyday lives of citizens. This is less data in society but rather data as society. Financial systems comprise a myriad of interacting actors and technologies. Financialisation is enabled through escalating debt and its securitisation, by which debt is turned into a tradeable commodity. The chapter gives examples of student debt and public service provision as examples of how our social lives are now determined by the operations of data-led financial markets. The scale and complexity of financial systems’ activities makes regulatory control and democratic accountability problematic. In particular, control over or regulation of financial systems requires access to data – transparency. The chapter discusses the manipulation of Libor – an important financial data index – and the tax system to explain how data in financial systems is relatively easy to manipulate and hide. In a globalised world, the interconnectedness, speed and scale of data all conspire to make finance a ‘dark domain’.
Keywords: Financial systems, financialisation, power, transparency, regulation
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- Title Pages
- List of figures, tables and boxes
- Notes on contributors
- Foreword
- Preface
- General introduction
-
Part I How data are changing:Part I editors:Humphrey Southall andJeff Evans -
1 Statistical work: the changing occupational landscape -
2 The creation and use of big administrative data -
3 Data analytics -
4 Social media data -
Part II Counting in a globalised world:Part II editors:Sally Ruane andJeff Evans -
5 Adult skills surveys and transnational organisations: globalising educational policy -
6 Using survey data: towards valid estimates of poverty in the South -
7 Counting the population in need of international protection globally -
8 Tax justice and the challenges of measuring illicit financial flows -
Part III Statistics and the changing role of the state:Part III editors:Sally Ruane andHumphrey Southall -
9 The control and ‘fitness for purpose’ of UK official statistics -
10 The statistics of devolution -
11 Welfare reform: national policies with local impacts -
12 From ‘welfare’ to ‘workfare’, and back again? Social insecurity and the changing role of the state -
13 Access to data and NHS privatisation: reducing public accountability -
Part IV Economic life: Part IV editors:Humphrey Southall ,Sally Ruane andJeff Evans -
14 The ‘distribution question’: measuring and evaluating trends in inequality -
15 Labour market statistics -
16 The financial system: money makes the world go around -
17 The difficulty of building comprehensive tax avoidance data -
18 Tax and spend decisions: did austerity improve financial numeracy and literacy? -
Part V Inequalities in health and wellbeing: Part V editors:Sally Ruane andHumphrey Southall -
19 Health divides -
20 Measuring social wellbeing -
21 Re-engineering health policy research to measure equity impacts -
22 The Generation Game: ending the phoney information war between young and old -
Part VI Advancing social progress through critical statistical literacy: Part VI editors:Jeff Evans ,Sally Ruane andHumphrey Southall -
23 The Radical Statistics Group: using statistics for progressive social change -
24 Lyme disease politics and evidence‑based policy making in the UK -
25 Counting the uncounted: contestations over casualisation data in Australian universities -
26 The quantitative crisis in UK sociology -
27 Critical statistical literacy and interactive data visualisations -
28 Full Fact -
29 What a difference a dataset makes? Data journalism and/as data activism - Epilogue: progressive ways ahead
- Index