financialisation
/faɪˌnæn.ʃə.laɪˈzeɪ.ʃən/
Definition
The process by which financial power and monetary influence become the primary drivers and determinants of political processes, outcomes, and governance.
Etymology
Derived from the English word 'financial,' which traces back to the Middle French 'finance' meaning 'settlement of a debt.' The suffix '-isation' is added to denote the process of making or becoming something, reflecting the modern trend of applying financial mechanisms to non-market sectors.
In the news
In this article, the term describes how the soaring costs of running for office are undermining democracy by ensuring that only those with significant wealth can compete and exert political influence. It highlights a shift where political contests are transformed into battles of financial muscle rather than ideas.
How Africa’s power politics became a high stakes affair
Read the full article ↗The EastAfrican