Between Finance and Security

This chapter examines a group of experts within central financial governance institutions, such as the IMF and central banks, tasked with fostering global financial market stability. These ‘financial security experts’ differentiate threatening and unwanted market activities from those promoting economic growth, aiming to eliminate risks to enable risk-taking. Their expertise underpins policymaking, providing evidence and methods for political action. Using the concepts of epistemic communities and discourse coalitions, the chapter explores how these experts gained and maintain their authority, which cannot be presumed as inherent. Their expertise relies on strict methodological practices, particularly datafication and quantification, forming the foundation for assessing threats. This intertwines financial and security knowledge, granting experts the authority to define threats through routine analysis. The chapter concludes by discussing how claims from experts with specific epistemic backgrounds evolve into hegemonic political security claims, shaping the political sphere.