Challenging the ‘fictions of financialisation’: a commentary on explanation in financial geography

Financialisation is a key concept in financial geography, used to explain various phenomena. But have we sufficiently explained financialisation? Nick Bernards’ recent book, Fictions of Financialization: Rethinking Speculation, Exploitation, and Twenty-First-Century Capitalism, encourages us to question some of our assumptions about financialisation. This commentary outlines two research directions for financial geographers: (1) examining the relationship between structuring context and state agency and (2) exploring the financial and political interests represented in states’ use of financial tools in their governance. More than merely an academic exercise, Bernards reminds us that attempts to understand the causes of financialisation are a political project aimed at envisioning solutions and alternative futures.