Finanzkapital and Consumers: How Financialization Shaped Twentieth Century Marketing

Purpose – By tracing the history of the links of financialization to consumer behaviors and marketer actions in the twentieth century, this paper aims to show that consumer market phenomena are often shaped by the imperatives of finance. Design/methodology/approach – The paper employs selective historical overviews, mainly focusing on the USA, of four tranches of the past century: the run up to the Great Depression; from post-Depression to the Second World War; the post-Second World War Bretton Woods system and its collapse in the 1970s; and the increasingly risk-charged last three post-Bretton Woods decades of the twentieth century. Findings – The historical review shows that the financial sector\u27s interest in profiting from consumer markets emerged and grew fairly early in the twentieth century, experienced some slowdown and forced retrenchment due to the military-industrial build up prior to and during the Second World War, and re-accelerated in the post-Second World War period – reaching an unsustainable risky zenith by the closing years of the century. Practical implications – Findings and arguments from this paper can be of value to citizen and consumer advocates seeking to bringFinanzkapital activities under popular and democratic control. Social implications – Insights from this paper should motivate us to study in greater depth how established and seemingly autonomous consumer and marketer behaviors, in the ultimate, may be guided by, and have to conform to, the dictates of financial capital. Originality/value – The main contribution of this paper is an elaboration of how financial capitalism has shaped consumption styles and marketing practices in the last century

Finanzkapital in the Twenty-First Century

Purpose – Drawing inspiration from the 1910 book Finanzkapital by Rudolf Hilferding, this paper seeks to explore the nature of financial capital in the early twenty-first century from a political-economic and culture theory perspective. It aims to offer suggestions for transcending the crises-prone contemporary economic systems. Design/methodology/approach – The paper reconceptualises the notions of Finanzkapital in the contemporary context, drawing selective evidence from current and twentieth century economic and business history. Findings – The nature of contemporaneous Finanzkapital is elaborated by presenting seven “theses” that probe the nature of Finanzkapital prior to, during, and after the Great Recession of 2007-9. Originality/value – Through succinct articulation of the major characteristics of contemporary Finanzkapital, the paper suggests some ways to resist and transcend politico-economic and business systems based on massive but quicksand-like foundations of financial capital

Being Critical in Marketing Studies: The Imperative of Macro Perspectives

In this article, I argue that an elevated macro-level perspective is imperative for conducting critical studies in the fields of marketing and consumer research. There are epistemic barriers to operating in this manner, and I offer several suggestions for overcoming these barriers. Finally, I review the research spaces for critical studies of marketing in various global settings and conclude that United Kingdom and Nordic Europe have the best epistemic climate, and this region needs to take leadership in promoting greater range of macro and critical studies of marketing in the rest of the world

Borderless Bits: Electronic Globalization and its Social Consequences

Globalization of services with the aid of electronic technologies - popularly called outsourcing or offshoring - has been accelerating. In this paper, the factors that drive electronic globalization - as distinct from factors that drive the general process of globalization - are discussed briefly. A simple model of a 2-firm USA-India dyad engaged in outsourcing relationships is presented to outline the economic basis for electronic globalization. By introducing wider political and cultural forces, progressively more complex views of the electronic globalization phenomenon are presented. Finally, the interplays of the economic, political, and cultural forces are explored to arrive at a deeper understanding of electronic globalization, and broader consequences and longer-term impacts are explored

Disney: delights and doubts

Disney and its spectacularly successful theme parks are analyzed through the lens of its consumers. We focus on how Disney manages the consumption experience and discuss Disney strategies from several perspectives. Disney provides a paradigm for contemporary consumption. A framework is presented to understand consumption in Disney and Disneyesque settings. Finally, we offer cautions and critiques regarding such strategies-a guide for the informed consumer

Disney: Delights and Doubts

Disney and its spectacularly successful theme parks are analyzed through the lens of its consumers. We focus on how Disney manages the consumption experience and discuss Disney strategies from several perspectives. Disney provides a paradigm for contemporary consumption. A framework is presented to understand consumption in Disney and Disneyesque settings. Finally, we offer cautions and critiques regarding such strategies-a guide for the informed consumer