Gramsci and Bourdieu Theories Relevance to Financial Crisis

The dominance of financial institutions was not widely recognized and accepted. Beginning from 2007, these failures in European and American banks also rippled confidence amongst bankers, making them reluctant to lend money amongst themselves, and their causal borrowers too. The social status of every seemed to alter as the media vastly spread the situation making all states rapidly hold interventions with the aim of making new resolutions.
Antonio Gramsci was a prominent Italian Marxist working as a journalist and philosopher. Gramsci spent his last seven years at Mussolini’s prisons where he composed and finished 32 notebooks with nearly 3,000 pages. The notebooks were illegally traded out of prison and issued following the way in the late seventies1. The main topics and theses of the notebooks was the growth of the Marxist assumption relevant to the circumstances of enhanced capitalism. Gramsci mainly concentrated on decisive awareness, the significance of scholars playing a role in daily life. Common sense was also considered a vital aspect of his guiding themes to sustain the position have assisted the disclosure of the transformational potential of schooling2.
Pierre Bourdieu, a university lecturer of sociology at Collège de France in Paris, underwent a double conversion from a pre-capitalist livelihood, to a consumerist one3. When moving from Denguin in the small-scale farming Béarn regions Pyrenees, to urban Paris, Bourdieu drafted with the military and became a self-taught anthropologist following his second comeback from the countryside’s of South of Algeria. As a result, Bourdieu has been well established in his theory that the basic component of modernity is the past change towards the better implication of the financial system within the entire community.