Foucault News

News and resources on French thinker Michel Foucault (1926-1984)

Eduardo Rivera Vicencio, Monetary Conformation of the Corporate Governmentality II The Monetary System and the Privatization Process, Journal of Governance and Regulation, Volume 5, Issue 2, 2016, 75-90

The global governance of large corporations or corporate governmentality changed over time through the penetration of the economy in all aspects of society but which has shaped the monetary system as an integral part of corporate governmentality and which gave it a big push in the last forty years. The conformation of the monetary system and the introduction of the neoliberal model which brought about the private process and which started from the late seventies of the twentieth century and marked the turning point in the acceleration of wealth will be discussed in this document. The shaping of this accelerated private process would not have been possible without the establishment of the monetary system. These conformations are described through Foucault’s approach to power relations and its manifestations such as discourse, discipline, ethics and governmentality. This document uses the archaeological and genealogical method Foucaultian approach and therefore looks at historical, philosophical and economic aspects. The period covered in this document corresponds from the interwar period to the beginning of the 21st century in terms of monetary aspects that have influenced the formation of the monetary in the privatisation process and the effects of both on the economy.

Keywords: Monetary System, Private Process, IMF (International Monetary Fund), the Gold Standard, Corporate Governmentality, Rent Appropriation, Concentration of Wealth and Monetary Disturbances

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