FTSE Russell Index Delisting Reflects Structural Inequities in Global Finance and Ownership Concentration
Original framing: “FTSE Cut Hits Stock Tied to One of Indonesia’s Richest Families” — Bloomberg
The trickster in this narrative is the index itself—FTSE Russell—acting as both gatekeeper and gatecrasher. Like Hermes or Eshu, it moves between worlds, determining who is included and excluded in the global financial order. Its decisions reveal the absurdity of a system where a handful of Western firms wield outsized power over the economies of entire nations.
The FTSE Russell index delisting of an Indonesian family-owned company is not merely a financial event but a systemic reflection of global financial hierarchies that favor concentrated ownership and Western gatekeepers.
This decision reinforces colonial-era structures that marginalize local ownership models and deepen economic inequality. To address this, we must reform global index governance, promote diversified ownership structures, and integrate indigenous financial philosophies into mainstream economic systems. By doing so, we can create a more equitable and inclusive global financial order that reflects the diversity of economic life across cultures.