By M. Haiven
Drawing on quite a lot of case reviews, Cultures of Financialization argues that, in our age of problem, the worldwide financial system is extra invested than ever in tradition and the mind's eye. We needs to take the assumption of 'fictitious capital' heavily for you to comprehend the ability of finance, and what can be performed to forestall it.
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Additional info for Cultures of Financialization: Fictitious Capital in Popular Culture and Everyday Life
To clarify, such an approach by no means assumes that capitalism is merely a cultural set of relationships; it is a material system, based on the exploitation of labour, the materialization of that labour in commodities, and the circulation of those commodities through their abstraction into price. But it is to say that, in addition to the analysis of this process, we must also see the production, distribution and use of commodities as a set of relationships always in the process of reproduction, and backed by relations of reproduction, and that these, in turn, ﬂow through and change the fabric of meaning, identity, power relations, institutions and ideas.
The ﬁnancialized story of precarity The idea of precarity is an inherently periodizing one; it depends on our imagining, however vaguely, a time before we became precarious, a time when things were stable and functional, when life was assured and predictable, when we felt balanced and whole, when we were not so utterly possessed by economic velocity that the nausea of existential worry was incidental and particular to individuals 43 44 Cultures of Financialization and circumstances, rather than constant and universal, as it is today.
Should give us pause. It is a ﬂoating signiﬁer, holding a place for a complicated socio-ontological condition that cannot be fully grasped or deﬁned – the precarious sublime. In general, the mythical pre-precarious age is imagined to be the post-war years in the United States, a moment when, in the shadow of the Soviet threat, a “compromise” existed between capital and labour, superintended by the state, which offered a culturally, socially and economically secure existence for the emergent middle class (Aronowitz 2004; Cleaver 2005).
Cultures of Financialization: Fictitious Capital in Popular Culture and Everyday Life by M. Haiven