Financialization of Education: Statement of the Problem

Publication type Article
Status Published
Occupation: Leading researcher at Centre of Economic Theory of the Social Sector; Assoc. Prof. at Faculty of Philosophy (Center of Modern Marxist research)
Institute of Economics of RAS
Lomonosov Moscow State University
Address: Russian Federation, Moscow
Journal nameSotsiologicheskie issledovaniya
EditionIssue 12

Author proposed and argued conception of financialization of education, typical for the modern stage of late capitalism, and shows its essence – subordination of the education to the financial capita; and its actors. The influence of the process of financialization of education on society and on the individual is shown. The author proves that financial capital subordinating the content, goals and values of education and it creates a social atmosphere in which education becomes a conductor of the financing of society. Thus, financial capital forms social stereotypes of behavior of the main social groups and leads to the formation of a new social type of person – homo finansus. This strengthens and accelerates the financialization of the economy and society as a whole. Specific features of financialization of education in comparison with other spheres of social sector and common features of education and other spheres are shown.

Keywordsfinancialization of education, financialization of society, social consequences of the financialization of education, «homo finances», financial capital
Publication date11.12.2019
Number of characters32580
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