Policy Press

Publishing with a purpose

Crowdfunding and the Democratization of Finance

By Mark Davis and Bruce Davis

Published

Nov 1, 2021

Page count

182 pages

ISBN

978-1529216738

Dimensions

203 x 127 mm

Imprint

Bristol University Press

Published

Nov 1, 2021

Page count

182 pages

ISBN

978-1529216745

Dimensions

Imprint

Bristol University Press

Published

Nov 1, 2021

Page count

182 pages

ISBN

978-1529216745

Dimensions

Imprint

Bristol University Press
Crowdfunding and the Democratization of Finance

Do you know where your money is? More importantly, do you know what your money is doing?

Most of us feel confident that we know what money is. But few of us feel confident in taking responsibility for what our money does. We hand over the power of money to banks and mainstream finance with real, often damaging, consequences for people and planet.

A unique collaboration between an academic and a practitioner, this book tells the story of money, from ancient Athens to the Bitcoin revolution, to explain how crowdfunding is the way for people to reclaim the power of their money in pursuit of a fairer and greener society.

"A sociologically astute and impassioned critique of the financial institutions that currently dominate us, which outlines a clear, practical and democratic alternative. This is a major step towards the rethinking and remaking of money." William Davies, Goldsmiths, University of London

"For too long, the democratization of finance has merely channelled people’s money to intermediary institutions, professional elites and mainstream markets. Building on the potential of crowdfunding to empower circulations that are far more productive, Davis and Davis provide us with an alternative, progressive and practical agenda for people and planet." Paul Langley, Durham University

"More than just a book about crowdfunding, this is a valuable contribution to the debate about democratising the economy. Accessible and thought-provoking, it puts questions of power and control over money where they belong – at the heart of the analysis." Christine Berry, Author and Director of IPPR North

"Change which gives all humans dignity doesn’t come from words alone, but from institutions that give life to our collective needs and strengths. We can only finance the future we want, if financial systems themselves honour a more equal, democratic and sustainable society. This incredible and timely book shows us how." Neal Lawson, Author and Director of Compass

Mark Davis is Associate Professor of Sociology at the University of Leeds.

Bruce Davis is Co-founder and Joint Managing Director of Abundance Investment.

Preface

one: The Crisis of Finance

two: What is Crowdfunding?

three: Democratic Finance, Then and Now

four: The Destination of Money

five: Futures of Democratic Finance

Conclusion: The Change in Your Pocket