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Banking on a RevolutionWhy Financial Technology Won't Save a Broken System$
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Terri Friedline

Print publication date: 2021

Print ISBN-13: 9780190944131

Published to Oxford Scholarship Online: December 2020

DOI: 10.1093/oso/9780190944131.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 16 October 2021

The Nature of Change

The Nature of Change

(p.169) 9 The Nature of Change
Banking on a Revolution

Terri Friedline

Oxford University Press

This chapter explores the possibilities for a financial system revolution that equalizes access and democratizes power, such as through movements like Black Lives Matter and Occupy Wall Street. Examples of steps toward equalizing access and democratizing power include student loan debt protests, municipal identification documents, community benefits agreements, and public banks. These examples demonstrate the importance of uniting incremental change with the power of people. Moreover, any revolution must intentionally challenge the financial system’s calibrations to whiteness. The financial system’s calibrations have been a global, centuries-long exercise in concentrating economic power with whiteness. The type of revolution our financial system needs cannot be achieved through technological advancements.

Keywords:   Occupy Wall Street, Black Lives Matter, racism, whiteness, student loan debt, public banks, community benefits agreements, policy change, social movements

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