Social Effect of Financialization of Education

Social Effect of Financialization of Education

Yakovleva N.G.

Сand. Sci. (Econ.), Leading Researcher, Institute of Economics (Centre of Economic Theory of the Social Sector), Russian Academy of Sciences; Faculty of Philosophy (Center of Modern Marxist research), Lomonosov Moscow State University, Moscow, Russia

ID of the Article: 7933

For citation:

Yakovleva N.G. Social Effect of Financialization of Education. Sotsiologicheskie issledovaniya [Sociological Studies]. 2019. No 12. P. 104-114


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 capital; 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 creates a social atmosphere in which education becomes a conductor for 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.

financialization of education; financialization of society; social consequences of the financialization of education; «homo finances»; financial capital


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Content No 12, 2019