Hegemony and Governance in Financialized Capitalism

Abstract

This article characterizes the current stage of capitalism based on the centrality of speculative mechanisms based on fictitious capital and their consequences in the totality of the reproduction of life. It identifies a symbiotic relationship between the reproduction of capital and public administration as a way of recomposing bourgeois power over the last 40 years. To this end, it presents an interpretation of the current form of relationship between the State and Civil Society and the formation of new hegemonic power blocs. In this relationship, it demonstrates the existence of mechanisms for decentralizing the state stricto sensu through the formation of public-private partnerships with companies and non-governmental organizations of civil society. In this context, it asks: what are the limits and potential for strengthening democracy? Inspired by Adorno's negative dialectics, the article suggests the hypothesis of the emergence of a new form of social governance opposed to hegemonic capitalist governance. Taking into account the resistance of the peoples of South America in their territories who build their own mechanisms of power and sovereignty to self-determine their destinies, it reflects on the possibility of popular governance, as named by the philosopher Slavoj Zizek.