What is the role of finance in socio economics? And what relationships can be observed between such notions as “finance” and “democracy”? According to this article, there are four basic principles of finance:
The Orthodox Classical Liberal Interpretation of Smith;
Marx’s ‘Capital’, Philosophy and Political Economy;
Heterodox, drawing on Keynes and Minsky;
“Active society” (societal) by Polanyi.
These principles are characterized in accordance with 5 aspects:
1. conceptualization of finance;
2. correlation between finance and the economy;
3. correlation between finance and state;
4. correlation between finance and society;
5. the nature of the social system.
From these aspects a new structure for the analysis of finances in society is build. It’s used to analyze the correlation between finance and democracy and the prospects for financial regulation.