Reprogramming sovereignty: financial algorithms and the future of political economy

Main Article Content

Shinasak Suwan-achariya

Abstract

        This article examines the epistemological foundations of sovereignty in the context of the declining liberal economic order and the emergence of strategic statecraft. Drawing on Russia’s algorithmic response to Western sanctions, it introduces the concept of sovereign acceleration—a temporal regime enabling strategic outcomes independent of traditional capital accumulation. Utilizing a methodology grounded in strategic epistemology, comparative circuit analysis, and visual infographics, the study argues that new modalities of sovereignty emerge from the capacity to program financial circuits and redesign developmental trajectories beyond the Bretton Woods paradigm. The findings provide a reframing of political economy by integrating resource ontology, financial autonomy, and algorithmic governance into a framework for analyzing sovereign resilience.

Article Details

Section
Research articles

References

Acharya, A. (2014). The end of American world order. Polity Press.

Arrighi, G. (1994). The long twentieth century: Money, power and the origins of our times. Verso.

Auer, R., & Böhme, R. (2021). Central bank digital currency: The quest for minimally invasive technology. BIS Working Papers No. 948. Basel: BIS.

Bank for International Settlements. (2020). Cross-border payment systems and sovereignty. https://www.bis.org/

Bank for International Settlements. (2021). CBDCs: An opportunity for the monetary system. https://www.bis.org/

Bank of England. (2021). Central bank digital currency: Opportunities, challenges and design. London: Bank of England.

Bratton, B. (2016). The stack: On software and sovereignty. MIT Press.

Bratton, B. (2021). The revenge of the real: Politics for a post-pandemic world. Verso.

Brunnermeier, M. K., James, H., & Landau, J. P. (2021). The digitalization of money. Princeton University Press.

Cox, R. W. (1981). Social forces, states and world orders: Beyond International Relations theory. Millennium, 10(2), 126–155.

Drezner, D. W. (2015). Targeted sanctions in a world of global finance. International Interactions, 41(4), 755–764.

Dugin, A. (2012). The fourth political theory. Arktos Media.

Eichengreen, B. (2011). Exorbitant privilege: The rise and fall of the dollar. Oxford University Press.

Eurasian Development Bank. (2024). Macroeconomic outlook 2024–2025. EDB.

Foucault, M. (2008). The birth of biopolitics. Palgrave Macmillan.

Gallagher, K. P. (2016). The China triangle: Latin America’s China boom and the fate of the Washington Consensus. Oxford University Press.

Hudson, M. (2003). Super imperialism: The origin and fundamentals of U.S. world dominance. Pluto Press.

Hudson, M. (2021). The destiny of civilization: Finance capitalism, industrial capitalism or socialism. ISLET.

International Monetary Fund. (2022). Digital money and sovereign risk. (IMF Working Paper). International Monetary Fund.

Jessop, B. (2016). The state: Past, present, future. Polity.

Khazin, M., & Shcheglov, S. (2018). Lestnitsa v nebo. Dialogi o vlasti, kar'yere i mirovoy elite [Stairway to heaven: Dialogues about power, crisis, and the future of humanity]. Eksmo. (In Russian)

Khazin, M. ,& Kobyakov, A. (2020). Zakat imperii dollara i konets Paks Amerikana[ The Decline of the Dollar Empire and the End of Pax Americana]. Eksmo (In Russian).

Milanovic, B. (2019). Capitalism, alone: The future of the system that rules the world. Harvard University Press.

Morozov, E. (2013). To save everything, click here: The folly of technological solutionism. Public Affairs.

Krugman, P. (2022, April 15). The twilight of dollar dominance. The New York Times.

https://www.nytimes.com/2022/04/15/opinion/dollar-dominance.html

Roubini, N. (2022). MegaThreats: Ten Dangerous Trends That Imperil Our Future. Little, Brown and Company.

Schmitt, C. (2005). The nomos of the earth in the international law of the jus publicum Europaeum (G.L. Ulmen, Trans.). Telos Press.(Original work published 1950).

Srnicek, N. (2017). Platform capitalism. Polity Press.

Subacchi, P. (2020). The currency of power: The IMF and monetary cooperation since Bretton Woods. Oxford University Press.

Suwan-achariya, S. (2025). Algorithm of sovereign economy [Unpublished manuscript]. Author.

SWIFT Institute. (2020). Impact of artificial intelligence on financial messaging and compliance. (SWIFT Institute Working Paper No. 2020-002).SWIFT Institute.

Tooze, A. (2022). Shutdown: How COVID shook the world’s economy. Penguin.

Tooze, A. (2023). The sanctions weapon: How Western finance changed global order. Columbia University Press.

Zuboff, S. (2019). The age of surveillance capitalism. Public Affairs.