The Circulation of Financial Elites

Allen, John (2018). The Circulation of Financial Elites. In: Coleman, Mat and Agnew, John eds. Handbook of the Geographies of Power. Research Handbooks in Geography. Cheltenham: Edward Elgar, pp. 178–202.

URL: https://www.e-elgar.com/shop/handbook-on-the-geogr...

Abstract

The focus of this chapter is on the process of financial elite formation and renewal, the means by which a rising elite mounts a challenge to an established financial order and how, in turn, an incumbent elite responds to that challenge by reinventing itself anew. In the contemporary period, that process has foregrounded the practical ability of a new constellation of financial elites to rewrite convention and practice in spatially innovative ways. What both old and new elites have in common, however, is the ability to exercise their power in skilful ways, whether combining inducement with established authority or artful persuasion with conscious manipulation, all of which are best summarised under the heading of dissimulation: the ability to present yourself as you actually are, without revealing all.

Keywords: elite formation, financial elites, offshore spaces, pragmatism, dissimulation

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