Asset manager society and financial subordination

Abstract

This essay critically engages with the concept of asset-manager society (AMS) proposed by Brett Christophers. We begin by drawing out its five key elements through a contrast with the related but distinct concept of asset-manager capitalism. We then ask to what extent AMS can be observed in the countries of the Global South, which are characterised by a subordinate position in international money and financial markets. We conclude by highlighting some potential implications of the rise of AMS in these economies and offering some broader thoughts on the future.