kapitaliturge

Kapitaliturge is a term used in some strands of critical political economy to describe the ritualized practices surrounding capital accumulation in contemporary capitalism. The word combines a root from 'kapital' (capital) with 'liturgy,' signaling the way investment, profit pursuit, and risk management are framed as orderly, almost devotional activities within corporate and financial cultures.

Definition and scope: Kapitaliturge refers to the ensemble of procedures, narratives, and institutions that legitimize and coordinate capital deployment across firms, markets, and states. It highlights how quarterly earnings, return-on-capital metrics, risk committees, and investor relations operate as standardized rituals that structure decision-making and social legitimacy of capital owners and managers.

Origins and usage: The concept emerges in critical theory and economic sociology writings from the late 20th century onward, applied to analyze how financialization shapes organizational life and public discourse. It is used to discuss the ceremonial aspects of corporate governance, asset management, and policy-making that revolve around capital accumulation.

Mechanisms and domains: In practice, kapitaliturge manifests in earnings calls, annual reports, stock buyback programs, ESG disclosures, and investor-day presentations. It also encompasses the way liquidity, credit, and asset prices are managed through dashboards, models, and performance narratives that render risk and return calculable and controllable.

Critique and debates: Supporters argue the term helps reveal the cultural dimensions of capitalism; critics warn it risks reifying cultural phenomena or obscuring labor and power relations. Some see it as a descriptive metaphor; others as a heuristic for analyzing financialization.

See also: capitalism, financialization, corporate governance, ritual theory, economic sociology.