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Bonuses for Some

Bonuses for Some

IIPPE TRAINING WORKSHOPS (LONDON, ABERDEEN and LEEDS)

International Initiative for Promoting Political Economy

Website: http://iippe.org/wp/

The IIPPE announces three Training Workshops (in London, Aberdeen and Leeds)

 

London: Monday June 22, SOAS (Vernon Square campus)
Simon Mohun and Photis Lysandrou, on The Marxist theory of finance, contemporary accounts of financialization and the causes of the financial crisis of 2007-8
Details at http://iippe.org/wp/?cat=19
Register with Simon Mohun < s.mohun@qmul.ac.uk >

 

Aberdeen: Thursday 25 June and Friday 26 June, University of Aberdeen (Fraser Noble Building), jointly with Aberdeen Political Economy Group (APEG) and IIPPE Financialisation Working Group
Simon Mohun, John Weeks, Joseph Choonara, James Foley, James Meadway and Neil Davidson on Neoliberalism and the political economy of money and finance in Scotland and the UK
Details from and registration with Keith Paterson < keithpaterson@abdn.ac.uk >

 

Leeds: Tuesday 8 September, University of Leeds (room tba)
Simon Mohun, John Weeks and Alfredo Saad-Filho, on Rate of Profit and Crisis
Details at http://iippe.org/wp/?cat=19
Register on the IIPPE Conference Registration Form http://iippe.org/wp/?page_id=2655 or with Simon Mohun < s.mohun@qmul.ac.uk >

 

First Published in http://www.historicalmaterialism.org/news/distributed/iippe-announces-three-training-workshops-london-aberdeen-and-leeds

 

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‘Human Herbs’ – a song by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=Au-vyMtfDAs

Posted here by Glenn Rikowski

Glenn Rikowski @ Academia: http://independent.academia.edu/GlennRikowski

Volumizer: http://glennrikowski.blogspot.com

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Dud Capitalism

Dud Capitalism

IIPPE TRAINING WORKSHOPS PROGRAMME 2014

International Initiative for the Promotion of Political Economy (IIPPE)

Continuing its Training Workshops programme, the International Initiative for the Promotion of Political Economy (IIPPE) announces TWO forthcoming training workshops

 

1. Monday June 9 at the School of Oriental and African Studies in London: a one-day workshop on The Political Economy of Finance

Confirmed speakers include Simon Mohun and Tony Norfield. The morning will focus on productive and unproductive labour, and then what Marx had to say about interest and the rate of interest. The afternoon will focus on the relevance of the contribution of Hilferding, followed by a critical survey of some contemporary approaches to financial appropriation, against the empirical backdrop of the importance of finance in the contemporary world.

We seek an audience of undergraduate and postgraduate students, junior academics and activists, who have a particular interest in acquainting themselves with the relevance of Marxian political economy to the world of finance.

If you wish to apply to attend this workshop, please send a note to that effect, before Thursday 15 May with your name and occupation/affiliation, to Serap Saritas: 548340@soas.ac.uk (This workshop has a small amount of financial support from the Amiel and Melburn Trust to cover reasonable travel costs within the UK from outside London.)

 

2. Monday 15 September at the Università degli Studi di Napoli “L’Orientale”, Naples, Italy (the day before the IIPPE Annual Conference in Naples): a one-day workshop on The Political Economy of Value and Price.

Confirmed speakers include Simon Mohun and Marco Veronese Passarella. The morning will focus on the labour theory of value and Marx’s account of the formation of prices of production. The afternoon will focus on some contemporary Marxist approaches to value and price.

We are seeking an audience of undergraduate and postgraduate students, junior academics and activists, who could be attending the IIPPE Annual Conference, and have a particular interest in acquainting themselves with some of the basic principles of Marxian political economy and its controversies. If you wish to apply to attend for this workshop, please send, before 30 June 2014, your name and occupation/affiliation, to: s.mohun@qmul.ac.uk

 

First Published in http://www.historicalmaterialism.org/news/distributed/international-initiative-for-the-promotion-of-political-economy-iippe-announces-two-forthcoming-training-workshops

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‘Human Herbs’ – a song by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=Au-vyMtfDAs

Posted here by Glenn Rikowski

Glenn Rikowski @ Academia: http://independent.academia.edu/GlennRikowski

Glenn Rikowski @ ResearchGate: http://www.researchgate.net/profile/Glenn_Rikowski?ev=hdr_xprf

Online Publications at The Flow of Ideas: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Jodi Dean

Jodi Dean

THE DEBT DRIVE

With Jodi Dean, Mladen Dolar, Eric Santner, Marina Vishmidt, Samo Tomsic, Alexei Penzin

University of Amsterdam, June 4-5. PC Hoofthuis 104, Spuistraat 135.

Sponsors: ASCA, NICA, Sandberg Institute

Organizers: Joost de Bloois (j.g.c.debloois@uva.nl), Robin Celikates (R.Celikates@uva.nl), Aaron Schuster (aaron_schuster@yahoo.com)

Registration is free, please email: Joost de Bloois (j.g.c.debloois@uva.nl)

Since 2008, debt and speculation have emerged as key concepts for contemporary cultural and political theory. The global crisis has not only impacted the wider fields of politics and culture, but has equally shaken the critical vocabulary we use to scrutinize these. The Debt Drive explores the many sediments of ways in which ‘debt’ and ‘speculation’ have restructured contemporary theory. What drives debt? How do debt and speculation affect subjectivity? How does debt forge and undo (inter)subjective relationships? In all its ghostliness, is debt opposed to the real?

The Debt Drive gathers some of today’s major theorists on ‘debt’, ‘speculation’ and ‘drive’ and their political and cultural significance. The conference focuses on ‘the debt drive’ as a key instrument for contemporary governmentality and its cultural and the oretical ramifications.

The conference will address debt and speculation as a mode of production: as the drive behind cognitive capitalism, but equally as a mode of cultural production; the peculiar relationship between art and speculation; the minutiae of debt’s seeming hostility towards autonomy. Moreover, The Debt Drive investigates the crucial role played by debt’s affective dimension: is there such a thing as the debt drive? Can we speak of speculative desire? Can the debt drive be transformed into its antipode: communist desire? How does the debt drive relate to neoliberal affect, such as depression, anxiety and mania, and on which (affective) resources could a political response to it build?

 

Program:

 

June 4:

10-11hrs: Mladen DolarThe Quality of Mercy is Not Strained (University of Ljubljana, Jan van Eyck Academy)

11-12hrs Discussion

 

12-13hrs Lunch

 

13-14hrs: Samo Tomšič (Humboldt University Berlin): The Capitalist Discourse: from Marx to Lacan

14-15hrs Discussion

 

15-16hrs Eric Santner (University of Chicago): The Weight of All Flesh: On the Subject-Matter of Political Economy

16-17hrs Discussion

 

17-18hrs Round Table

 

June 5:

10-11hrs Jodi Dean (Hobart and William Smith Colleges) Debt and Subjectivity

11-12hrs Discussion

 

12-13hrs lunch

 

13.00-14 hrs Marina Vishmidt (Art Critic, London): ‘Less Than Nothing to Sell: From Living Labour to Living Currency to Default’

14-15hrs Discussion

 

15-16hrs Alexei Penzin (Russian Academy of Sciences Moscow, Chto Delat): When There’s No Time: An Ontological Hypothesis for 24/7 Capitalism

16-17hrs Discussion

 

17-18hrs Round Table

 

Abstracts:

 

The Quality of Mercy is Not Strained

Mladen Dolar

The Merchant of Venice pits against each other two kinds of logic: on the one hand Shylock, the merciless usurer, the miser, the Jew, extorting a pound of flesh to collect his debt; on the other hand Portia, the harbinger of Christian charity and mercy. Shylock, a figure announcing capitalist modernity, would thus stand for the cruel and ruthless part of the budding capitalism, accumulation and exploitation, based on interests and extracting the pound of flesh – Marx often referred to him in this light. He is inscribed in the long line of misers, stretching back to Plautus and forth to Molière’s Harpagon, Balzac’s Gobsec and finally Dickens’s Scrooge, the last miser who miraculously converted to charity and mercy. Portia seems to stand for a pre-modern logic of mercy, a magnanimous free gift not expecting anything in return, yet a gift which opens up a debt that cannot be repaid. In a historical reversal Portia could be seen as the figure annou ncing the new stage of capitalism, the economy of endless debt, of being at the mercy of an unfathomable Other, constantly falling short, unable to acquit one’s debt, grateful for one’s means of survival. Maybe one could read Shakespeare’s parable as a two stage-scenario: first the economy of avarice conditioning accumulation and extortion, then the economy of mercy and infinite debt.

 

The Capitalist Discourse: From Marx to Lacan

Samo Tomšič

After May 68 Jacques Lacan systematically oriented his teaching toward Marx’s critique of political economy. This shift inaugurates his” second return to Freud”, in which Marx replaces Saussure and Jakobson, enabling Lacan to account for an insufficiency of classical structuralism, its incapacity to address the real consequences of discursive production. For Lacan, one such consequence is the subject of the unconscious, which, as Freud has already discovered, knows different determinations. Lacan’s reference to Marx – and its central idea that a strong homology operates in the fields opened up by Marx and Freud – confronts psychoanalysis with the contradictions, instabilities and critical reality that mark the capitalist mode of production. In my presentation I will focus on one specific aspect of this homology, the one that concerns the production of capitalist subjectivity, for which various thinkers, from Nietzsche to Lazzarato, assoc iate with the invention of “abstract debt” and the constitution of capitalist social relations on this abstraction. I will first discuss Marx’s analysis of “primitive accumulation”, where Marx tries to grasp the subjective and the social consequences of public debt. I will then pass over to Lacan’s formalisation of the capitalist discourse, in order to indicate where psychoanalysis essentially continues the Marxian critical project.

 

The Weight of All Flesh: On the Subject-Matter of Political Economy

Eric Santner

In recent work (The Royal Remains: The People’s Two Bodies and the Endgames of Sovereignty) I have argued that Ernst Kantorowicz’s elaboration of the doctrine of the King’s Two Bodies in late medieval and early modern Europe offers rich resources for an understanding of multiple features of modern politics, culture, and the arts. My guiding hypothesis in this work was that the complex symbolic and imaginary supports of the political theology of sovereignty described by Kantorowicz do not simply disappear from the space of politics once the body of the king is no longer available as the primary incarnation of the principle and functions of sovereignty; rather, these supports—along with their attendant paradoxes and impasses–“migrate” into a new location which thereby assumes a semiotic density previously concentrated in the “strange material and mythical pres ence” (Foucault), in the sublime flesh, of the monarch. A central problem for an ostensibly disenchanted, secular modernity is how to figure the remains of this royal double now dispersed among the sovereign people. The problem for cultural and political analysis becomes, in turn, that of tracking the vicissitudes of the People’s Two Bodies.

At the core of my argument is the claim that Freud’s elaboration of unconscious mental activity is an attempt to do just that; that the missing cause at the heart of the somatic symptoms plaguing his hysterical patients and intensifying their bodies must be thought in conjunction with the passage of the king’s “other body” into one now “enjoyed” by the people (thus properly understood as a Genossenschaft, a collective of enjoyment). My lecture will attempt to develop this line of thought further into the sphere of political economy. I will argue that what Marx referred to as the spectral materiality—the gespenstische Gegenständlichkeit—that constitutes the substance of value in capitalism can be thought of as another locus of the “people’s two bodies,” one managed and administered in the sphere of economic relations. In this way I hope to give further force to Freud’s concept of “libidinal economy” as well as to “flesh out” Giorgio Agamben’s analysis of the theology of glory (his own effort to shift from an analysis of sovereignty to one addressed to political economy).

 

Debt and Subjectivity
Jodi Dean
This paper has two parts. The first is a critique of Maurizio Lazzarato’s The Making of the Indebted Man. I focus on Lazzarato’s treatment of debt primarily in terms of the production of subjectivity. My argument is that not only does debt fail to produce the singular subject Lazzarato imagines but even if it did this would not be adequate as the subject of a communist politics. In the second part of the paper I draw from Badiou’s Theory of the Subject  to sketch a view of such a political subject at the point of overlap of crowd and party, anticipation and retroactive determination.

 

Less Than Nothing to Sell: From Living Labour to Living Currency to Default

Marina Vishmidt

I will present an itinerary of the ‘convertibility’ of negativity to revolutionary politics seen as a result of a position in the social relations of production.  From Marx’s positing and later post-workerist expansion of the category of value-producing living labour to contemporary iterations of ‘going on debt strike’, structural negativity seems to grow ever more hypothetical as an impetus to far-reaching change in an age of worsening living conditions and growing pessimism – in fact negativity seems entirely individualized whether or not it is theorized.  The politics of reproduction can be seen at work in the attempt to find a revolutionary subject in a financialised rather than productive relation to capital, i.e. the class character of debt, but this can also be prey to forms of conservatism and moralism as feminist critics such as Miranda Joseph has charged – the spiral of reproduction which keeps the system going, just like the structure of de bt.  Thinking along this critique and alongside Klossowski’s ‘living currency’ and certain instances of poetry (Ashbery and Boyer), I will try to bring the itinerary to a more-than-metaphorical close which can

 

When There’s No Time: An Ontological Hypothesis for 24/7 Capitalism

Alexei Penzin

The essential feature of the contemporary or “terminal” capitalism is uninterrupted or permanently “wakeful” continuity of production, exchange, consumption, indebting, communication and control. Taking as a point of departure recent theorizing of 24/7 and “no time” temporality, as well as my own theorizing of sleeplessness in modern and late capitalism, I would like to move at a more abstract level of discussing a possible ontology exposed by this terminal conjuncture. As Marx once said, only the late, ripe and developed social forms fully discover their origins, some “primitive” forms. A hypothesis I would like to suggest is that this monotonous continuum of power/capital can be considered as an immense symptom of an ontological dispositif of a continuous, violent and incessant forcing “to be”. Only one choice is allowed in this dispositif – just to continue endlessly in empty 24/7 temporalities or, as an “alternative”, to exit from the continuum without any possibility of return. The grip of this ontological “double bind” now is fully visible in devastating evidence of continual capitalism, and its possible deactivation is a question of a radical politics to come.

 

First published in http://www.historicalmaterialism.org/news/distributed/the-debt-drive-with-jodi-dean-mladen-dolar-eric-santner-marina-vishmidt-samo-tomsic-alexei-penzin-university-of-amsterdam-june-4-5

Debt

Debt

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‘Human Herbs’ – a song by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=Au-vyMtfDAs

 

Posted here by Glenn Rikowski

Glenn Rikowski @ Academia: http://independent.academia.edu/GlennRikowski

Glenn Rikowski @ ResearchGate: http://www.researchgate.net/profile/Glenn_Rikowski?ev=hdr_xprf

Online Publications at The Flow of Ideas: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

North Atlantic Oscillation

North Atlantic Oscillation

THE DARK ARTS OF FINANCE

The Dark Arts of Finance: Speculation, Collaboration and Artistic Labour

Max Haiven

Wednesday March 19th @ 3-5PM, University of Essex, Room 5B.202

Unlike his contemporaries, and unlike so many of today’s commentators, Marx was unsatisfied with approaches to the financial sector that saw it as merely parasitic (or as any more parasitic than other forms of capitalist accumulation). Rather, he suggested that finance represented one important means by which a key crisis endemic to capitalism might be (temporarily) averted: it provided a forum within which otherwise competitive capitalist actors might pool their wealth in the interests of their class and of the system as a whole. Such an approach to finance, and to the important but often overlooked forms of inadvertent cooperation at the heart of capitalist accumulation, may help us explore the politics and potentialities of artists’ collectives amidst today’s “financialization” of art. What might be gained if we imagined the infiltration of “art” by financial methods, measures and metaphors not as a parasitic imposition, but as new grounds for collaboration? Can we not imagine increasingly individuated and competitive artists as unwittingly enrolled in some form of (re)productive collectivity by the speculative currents of the art market? And, if so, how might this open up new ways to imagine radical collectivities that do not merely seek to return art to its allegedly pre-financialized pedestal, but that seize upon this new situation dialectically?

Max Haiven is an assistant professor in the Division of Art History and Critical Studies at the Nova Scotia College of Art and Design in Canada. His book Cultures of Financialization: Fictitious Capital in Popular Culture and Everyday Life is forthcoming from Palgrave MacMillan in 2014. His book Crises of the Imagination, Crises of Power: Capitalism, Creativity and the Commons will be published by Zed Books in March 2014. More information can be found at http://maxhaiven.com.

Sponsored by the Centre for Work, Organization, and Society.
This seminar is part of an ongoing workshop series on artist collectives.
For more information contact Stevphen Shukaitis: sshuka@essex.ac.uk

 

**END**

‘Human Herbs’ – a song by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=Au-vyMtfDAs

Posted here by Glenn Rikowski

Glenn Rikowski at Academia: https://independent.academia.edu/GlennRikowski

Glenn Rikowski on Facebook at: http://www.facebook.com/glenn.rikowski

Volumizer: http://glennrikowski.blogspot.com

Rikowski Point: http://rikowskpoint.blogspot.com

Demystifying Finance

Demystifying Finance

A POLITICAL ECONOMY OF CONTEMPORARY CAPITALISM AND ITS CRISIS: DEMYSTIFYING FINANCE

Book launch:  A Political Economy of Contemporary Capitalism and its Crisis: Demystifying Finance

Dimitris P. Sotiropoulos (The Open University Business School, UK)

John Milios (National Technical University of Athens)

Spyros Lapatsioras (University of Crete)

 

Discussion Panel

Janette Rutterford: Professor of Financial Management, The OpenUniversity Business School, UK

Engelbert Stockhammer: Professor of Economics, Kingston University, London

Paul Auerbach: Reader of Economics, Kingston University, London

Costas Douzinas: Professor of Law, Birkbeck, University of London

 

Thursday, 30th January 2014, 6PM

The Open University in London, Room 2BC (Ground Floor)

1-11 Hawley Crescent, Camden Town, London NW1 8NP

 

Nearest underground: CamdenTown (Northern Line)

Free event, all welcome

Contact details: dimitris.sotiropoulos@open.ac.uk

 

Routledge details: http://www.routledge.com/books/details/9780415684088/

 

First published in http://www.historicalmaterialism.org/news/distributed/book-launch-a-political-economy-of-contemporary-capitalism-and-its-crisis-demystifying-finance-30-january

 

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Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.youtube.com/watch?v=YkP_Mi5ideo  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

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Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Austerity

Austerity

SOCIAL AND POLITICAL CRITIQUE IN THE AGE OF AUSTERITY

CALL FOR ABSTRACTS

A one day workshop at Keele University

10.30am-6pm, Wednesday 12th February, 2014

This one day workshop is devoted to the discussion of critical politics in the contemporary age of austerity. Following the 2007 global economic crash, which led to a raft of government bank bail outs and nationalisations across America and Europe, a cunning ideological reversal took place – the crash was no longer the result of the hubris of the neoliberal financial sector, which had developed the idea of ‘riskless risk’ where reckless stock market speculation and the creation of value ex nihilo could produce endless profit, but rather the immoral wastefulness of the people and society. According to this ideological position, which was advanced by governments across Europe, the welfare state, and in many respects society itself, was transformed into an ‘exorbitant privilege’ that was simply unaffordable. In fact, in order to pay for their wastefulness the people were not only expected to give up their public services, but also required to accept ever lower wages, and a general state of social and economic precariousness.

This is the current state of play across America and Europe, where the neoliberal state has exploited the crash in order to retrofit society for violent competition with Asian capitalism. In the face of this race to the bottom, key thinkers such as David Graeber, Antonio Negri, Slavoj Zizek, Alain Badiou, and Costas Douzinas have spoken out against the new form Naomi Klein calls neoliberal disaster capitalism and given voice to the protest, rebellion, and revolt taking place across the world.

The objective of this workshop is to build upon the works of these key thinkers and explore the possibility for resistance in the age of austerity. We invite contributions from a range of disciplines focused on diverse social and political contexts and a variety of theoretical perspectives. Contributors may choose to focus on austerity and resistance across Europe, including the UK, Greece, Spain, and Italy; the Occupy movement; the media construction of austerity, including the idea of the undeserving poor who are seen to be living off public funds; methods for the organisation of resistance; the concept of the multitude and the digital commons; anti-capitalist thought; or transformative social and political theory and practice more generally. Most importantly, we are keen to emphasise that this list is not exhaustive – the key principle behind the workshop is that debate should open up a space for social and political creativity. In this way we are keen to encourage potential contributors to be creative and explore new possibilities for political change in a historical period where change seems absolutely necessary, but also impossible to envisage. In this respect, we encourage contributions from a variety of participants – academics, post-graduate students, activists, and others engaged in thinking through the possibilities of change under conditions of crisis and austerity.

The workshop will close with a lecture from Professor Costas Douzinas (Birkbeck), author of Philosophy and Resistance in the Crisis: Greece and the Future of Europe.

In order to take part in the event please send a 250 word abstract to Emma Head (e.l.head@keele.ac.uk), by Monday 6 January 2014.

This event is being organised jointly by Mark Featherstone (Keele Sociology) and Emma Head (Keele Sociology and the BSA Digital Sociology study group). Registration will open in early January.

Crisis

Crisis

 

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Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.youtube.com/watch?v=YkP_Mi5ideo  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Rikowski Point: http://rikowskipoint.blogspot.com

Volumizer: http://glennrikowski.blogspot.com

Glenn Rikowski on Facebook at: http://www.facebook.com/glenn.rikowski

Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Costas Lapavitsas

Costas Lapavitsas

PROFITING WITHOUT PRODUCING: HOW FINANCE EXPLOITS US ALL

By Costas Lapavitsas

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AVAILABLE NOW: http://www.versobooks.com/books/1506-profiting-without-producing

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“This book is a profound and panoramic study of the most powerful but destructive economic force of our time – financialization. Based on a sophisticated modern reinterpretation of Marxist theories and in depth empirical analysis, the book comes up with bold and fundamental reform proposals. It is a must-read for anyone who is committed to progressive economic and social transformation.” – Ha-Joon Chang, Author of 23 THINGS THEY DON’T TELL YOU ABOUT CAPITALISM

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Financialization is one of the most innovative concepts to emerge in the field of political economy in the last three decades, although there is no agreement on what exactly it is. PROFITING WITHOUT PRODUCING defines financialization in terms of the fundamental conduct of non-financial enterprises, banks and households. Its most prominent feature is the rise of financial profit, in part extracted directly from households through financial expropriation. 

Financialized capitalism is prone to crises, none greater than the gigantic turmoil that began in 2007. Using abundant empirical data, the book establishes the causes of the crisis and discusses the options broadly available for controlling finance.

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HOW TO DO POST-CRASH ECONOMICS? Read Costas Lapavitsas’ outline for the future of economics here: http://www.versobooks.com/blogs/1441-how-to-do-post-crash-economics

VERSO POST-CRASH ECONOMICS READING LIST –

Neoliberal economics isn’t working and students are demanding more from their course reading than the 8th edition of Macroeconomics can provide. Following the news that Economics students in Manchester have formed the Post-Crash Economics Society and Aditya Chakrabortty’s excoriating and controversial commentary in the Guardian on the state of contemporary economics, Verso presents a reading list of economics titles which challenge the mainstream neoliberal consensus and offer powerful alternative models in contemporary economics: http://www.versobooks.com/blogs/1433-post-crash-economics-a-reading-list

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“The growing dominance of global finance over the past generation ushered in the Wall Street crisis of 2007–09, and, along with it, mass unemployment and punishing austerity policies throughout the world. Building from his command of both the Marxian tradition and alternative theoretical perspectives, Costas Lapavitsas provides both a wide panorama and fresh insights as to how “finance exploits us all”. PROFITING WITHOUT PRODUCING is a major contribution to our understanding of financialization and its discontents. – Robert Pollin, Political Economy Research Institute, University of Massachusetts-Amherst

“Costas Lapavitsas has provided an original account of the difficulties that economies will face recovering from the 2008 economic crisis. It is not an optimistic picture, but one that people should struggle with.” – Dean Baker, Center for Economic and Policy Research

“This work is clearly a masterpiece on the financialized capitalism of our age.” – Makoto Itoh, Professor Emeritus, University of Tokyo

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Costas Lapavitsas is a Professor of Economics at the School of Oriental and African Studies, University of London. He is a member of Research on Money and Finance (RMF). He is the lead author of the new RMF report “Breaking Up? A Route Out of the Eurozone Crisis.” His previous publications include SOCIAL FOUNDATIONS OF MARKETS, MONEY AND CREDIT and POLITICAL ECONOMY OF MONEY AND FINANCE.

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Paperback Original / ISBN: 9781781681411 / $29.95 / £20.00 / $34.95CAN/ 352 pages

 

Hardback / ISBN: 9781781682463 / 95.00 / £55.00 / $108.00CAN / 352 pages

 

For more information on PROFITING WITHOUT PRODUCING: HOW FINANCE EXPLOITS US ALL or to buy the book visit: http://www.versobooks.com/books/1506-profiting-without-producing

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Visit Verso’s website for information on our upcoming events, new reviews and publications and special offers: http://www.versobooks.com

 

Sign up for the Verso mailing list:

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And get updates on Twitter too!

http://twitter.com/VersoBooks

 

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Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.youtube.com/watch?v=YkP_Mi5ideo  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Rikowski Point: http://rikowskipoint.blogspot.com

Volumizer: http://glennrikowski.blogspot.com

Glenn Rikowski on Facebook at: http://www.facebook.com/glenn.rikowski

Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Costas Lapavitsas

Costas Lapavitsas

FINANCIALIZATION IN CRISIS

Edited by COSTAS LAPAVITSAS

AVAILABLE NOW FROM HAYMARKET

A TITLE IN THE HISTORICAL MATERIALISM BOOK SERIES

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In this important and timely volume, a number of well-known political economists draw on the insights of Marxist and other heterodox economists to argue that the turmoil of 2007 to 2009 represents a crisis of financialized capitalism that can only be understood through tracing out the structural changes in the modern global economy. Carefully examining domestic and international aspects of the financialization of capitalism over the past thirty years, the contributors persuasively demonstrate that the ongoing economic crisis commenced in the sphere of finance, spread to production, and then became a world recession.
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Costas Lapavitsas is Professor of Economics at the School of Oriental and African Studies. He has published extensively on the political economy of money and finance. His publications include Social Foundations of Markets, Money and Credit. 
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With Contributions From:
Carlos Morera Camacho • Paulo L. Dos Santos • Gary Dymski • Nuray Ergüneş • Makoto Itoh • Costas Lapavitsas • Juan Pablo Painceira • Demophanos Papadatos • José Antonio Rojas Nieto
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$28 / Paperback / 260 pages
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For more information or to buy the book visit: www.haymarketbooks.org

First published in http://www.historicalmaterialism.org/news/distributed/new-in-paperback-from-haymarket-financialization-in-crisis-by-costas-lapavitsas

 

**END**

 

Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.youtube.com/watch?v=YkP_Mi5ideo (new remix, and new video, 2012)  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Rikowski Point: http://rikowskipoint.blogspot.com

Volumizer: http://glennrikowski.blogspot.com

Glenn Rikowski on Facebook at: http://www.facebook.com/glenn.rikowski

Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Merchant Bankers

STATES, BANKS AND CRISIS: EMERGING FINANCE CAPITALISM IN MEXICO AND TURKEY

States, Banks and Crisis: Emerging Finance Capitalism in Mexico and Turkey.

(2012)

Cheltenham, Gloucestershire, UK: Edward Elgar Publishing.

By Thomas Marois

 

Monday 29 Oct 2012
17:00 – 18:30

Room 4421

SOAS Main Building, London

 

‘Financialization is as financialization does. It is a mix of the universal characteristics of finance within capitalism, its contemporary powerful hold over, even defining feature of, the neoliberal age, and the myriad of specific global markets and countries into which it has penetrated. In a stunning work of comparative political economy, Marois brilliantly weaves together these aspects of finance drawing on both innovative theoretical insights and primary case study evidence from Turkey and Mexico to furnish what will become a classic and original contribution to the understanding of financialization in the developing world, highlighting both the role of the state in the era of putatively free markets and the possibility, indeed, necessity of alternatives.’ – Ben Fine, SOAS, University of London, UK

Event sponsored by SOAS Development Studies, Neoliberalism, Globalisation, and States Research Cluster and the London International Development Centre

Published first in http://www.historicalmaterialism.org/news/distributed/states-banks-and-crisis-emerging-finance-capitalism-in-mexico-and-turkey-by-thomas-marois-book-launch-29-october-soas

 

**END**

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

MySpace Profile: http://www.myspace.com/glennrikowski

Rikowski Point: http://rikowskipoint.blogspot.com

Volumizer: http://glennrikowski.blogspot.com

Glenn Rikowski on Facebook at: http://www.facebook.com/glenn.rikowski

Glenn Rikowski’s MySpace Blog: http://www.myspace.com/glennrikowski/blog

Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Crisis

THE FINANCIALIZED IMAGINATION AND BEYOND

Call for Papers—The Financialized Imagination and Beyond
Special issue of TOPIA: Canadian Journal of Cultural Studies, Fall 2013
Proposals due: September 14, 2012

Link to PDF version of the CFP: http://t.co/xcuw44bq

Edited by Max Haiven (New York University/Nova Scotia College of Art and Design University) and Jody Berland (York University)

Narrowly defined as the so-called “FIRE” industries (high finance, insurance and real estate), finance has gained tremendous power over the global economy in recent years. Critics describe “financialization” as a profound and far-reaching social and cultural shift. Advances in financial modelling, computing and communications technology have changed the nature and power of financial speculation, but the vast expansion of new forms of debt, credit and everyday financial services have also had dramatic impacts on daily life. From credit cards to sub-prime mortgages, from student debt to the privatization of pensions, from pay-day loans to online stock trading, financial practices have become mainstream cultural issues. Films, biographies, novels, television shows and web-texts about finance and financiers (lionized or demonized) are more popular than ever. Logics of finance inform and shape public policy and social institutions, from hospitals and schools to science and cultural production, with “risk management,” “return on investment,” and “market efficiency” as key weapons of the neoliberal lexicon. Driven in part by immaterial, speculative, leveraged wealth, capitalism normalizes precarious labour and life in both material and immaterial forms, and each of us is expected to manage our risk portfolios and embrace a life of endless speculation. While the politics of debt, predatory lending and speculative capital have long shaped geopolitical realities, especially in the developing world, the unapologetic “age of austerity” threatens a new intensity of inequality and exploitation, with dramatic human and ecological consequences.

Facing continuous global financial crises and new social movements emerging to contest this “age of austerity,” cultural studies has important questions to ask about the financialized imagination. How is “finance” represented in fiction, film, journalism and art? How is finance itself a form of “representation” as well as a cultural phenomenon driven by beliefs, narratives and technologies? How do representational technologies contribute to the production of wealth? How do we explain the charisma of the speculator, the valorization of “risk management” and the fetishization of “financial literacy” under hyper-neoliberalism? What are finance’s effects on cultural production and the political economy of culture? How is the rise of digitized financial power related to the global play of material and immaterial economics, labour and culture? How is financialization connected to and expressed through race, class, gender, sexuality, colonialism, imperialism and ablism? What are the geopolitical and affective consequences of financialization? How do we historicize and “periodize” financialization, and what is at stake in analyzing what Marx called “fictitious capital”? What are the effects of financialization on everyday culture? How is debt linked to politics of precarity, disposability or borders? Are there ecologies of financialization? How does finance’s tremendous power to commodify potential futures as present-day “risk” affect how we imagine the future? What are the contours and limits of the “financialized imagination”? Have we moved from a society of the spectacle to a society of speculation? What lies beyond?

Social movements such as the Occupy movement and, more broadly, anti-austerity struggles from Athens to Chile, Nigeria to India, Korea to Montreal have been waging cultural struggles over the meaning of debt, the uses and abuses of banking, and the nature of economic power. Critical films, fiction, blogs and other genres seek to probe finance, financialization and the financial crisis, with varying degrees of success.

TOPIA invites contributors to propose academic articles, shorter “offerings,” reviews and review essays for a special issue on the “financialized imagination and beyond.” Themes and topics include (but are not limited to):

 

*Cultural representations of finance, financialization, financiers and the financial crisis in and across media

* The cultural politics of debt and credit in everyday life: government spending, ecological debt and debt as a paradigm of social discipline

* Finance as representation of space, time, knowledge, culture, materiality or immateriality

* Calculation and the new common sense: the fate of futurity, the cultural idiom of speculation and the practices of “risk management”

* Finance capital(ism) and the politics and economics of cultural production: the financing of culture

*The cultural politics of crisis

*The interplay of oppressions (gender, sexuality, race, class, ability, citizenship) and finance, from racialized predatory sub-prime lending to women-focused microcredit schemes, from the “Wall Street Man” to the legacies of debt-bondage and slavery

* The roots and legacies of colonialism and imperialism in finance (and vice versa)

* The financialization of daily life and social institutions

* The cultural and affective dimensions of finance, financial labour and financial speculation: how are cultures of speculation built and reproduced? What does financial wealth represent? What kinds of affects and sensations are produced by wealth through speculation, display, or loss?

* Tension and interplay between material and immaterial capital, labour and culture, money and power

* Historical precedents and patterns of finance and financialization: narrating events from Tulip Mania to the collapse of the Asian Tigers; from the speculative value of enslaved Africans to the predatory sub-prime mortgage industry that thrived on inner-city poverty 

* Struggles against finance, financialization and austerity, and their spaces, strategies, narratives, potentials and limits

* Horizons beyond the crisis
Prospective authors should submit a 300-word proposal, accompanied by a brief biographical note, to the editors by September 14, 2012. Selected authors will be invited to prepare articles by February 15, 2013, with publication dependent on the peer-review process. The issue will be published in Fall 2013.

More information can be found at TOPIA’s website, http://www.yorku.ca/topia.

Please direct proposals and queries to Max Haiven at maxhaiven@nyu.edu, and to Jody Berland at jberland@yorku.ca.

Originally published in http://www.historicalmaterialism.org/news/distributed/call-for-papers-the-financialized-imagination-and-beyond  

**END**

‘Human Herbs’ – a new remix and new video by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=Au-vyMtfDAs

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Cold Hands & Quarter Moon: http://www.myspace.com/coldhandsmusic

Volumizer: http://glennrikowski.blogspot.com

Crisis Management

Crisis Management

SECOND COST-Network CONFERENCE 2012

Many intellectuals, Jurgen Habermas among them, argue that the management of the financial crisis undermines democracy. The COST-Network ‘Systemic Risks, Financial Crises and Credit’ invites papers that critically examine this claim.

Do financialization and the management of the financial crisis circumscribe democratic institutions and processes? If yes, what are the mechanisms that restrict democracy?

 

Potential themes include:

–  The sources of power of financial actors

–  The role of knowledge networks in crisis management

–  Conflicting crisis narratives

–  Restructuring the State to accommodate financial capital

–  New hierarchies among nations

–  Diffusion of policy concepts and policy learning processes

–  Resistance and civil society

 

October 11, 2012 to October 13, 2012

Kassel University, Germany

Deadline for Submission of Abstracts: 15th June 2012
Successful candidates will be notified by: 30th June 2012
Deadline for papers: 1st Oct 2012
Please send your abstracts to: COST2012@icdd.uni-kassel.de

See: http://www.uni-kassel.de/einrichtungen/icdd/events/cost-conference/cost-conference-2012/call-for-papers.html

For more information: http://www.worldfinancialcrisis.eu/

**END**

‘Human Herbs’ – a new remix and new video by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=Au-vyMtfDAs

‘Stagnant’ – a new remix and new video by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=YkP_Mi5ideo  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Rikowski Point: http://rikowskipoint.blogspot.com

Volumizer: http://glennrikowski.blogspot.com

Costas Lapavitsas

Costas Lapavitsas

FINANCIALISATION IN CRISIS

http://www.brill.nl/financialisation-crisis

Financialisation in Crisis
Edited by Costas Lapavitsas

The turmoil of 2007-2009 is a crisis of financialised capitalism, and for this reason it is systemic and unusual. The crisis commenced in the sphere of finance, spread to production, and then became a world recession. Its unusual character is apparent since never before has a global economic crisis been triggered by banks lending to workers to buy houses. Moreover, state intervention to forestall the crisis becoming a major depression has been unprecedented. This book brings together several well-known political economists to analyse the domestic and international aspects of financialisation, thus putting the crisis in its appropriate context. It draws on Marxist and other heterodox economics to cast light on the broader implications of financialisation and crisis for society.

Biographical note
Costas Lapavitsas is Professor of Economics at the School of Oriental and African Studies. He has published extensively on the political economy of money and finance. His publications include Social Foundations of Markets, Money and Credit (Routledge, 2003).

Readership
Academic libraries, institutes, university courses, policy centres and political/social activists. Those interested in radical explanations of the rise of finance, the transformation of the economy and the recurrence of crisis.

Table of contents
List of Tables and Figures
Introduction: A Crisis of Financialisation, Costas Lapavitsas

PART I: DOMESTIC FINANCIALISATION AND THE ROOTS OF THE CRISIS

1. Financialised Capitalism: Crisis and Financial Expropriation, Costas Lapavitsas

2. The Political Economy of the Subprime Meltdown, Gary Dymski

3. On the Content of Banking in Contemporary Capitalism, Paulo L. Dos Santos

4. Central Banking in Contemporary Capitalism: The Limits of Monetary Policy, Demophanos Papadatos

PART II: INTERNATIONAL FINANCIALISATION AND THE GLOBAL IMPACT OF THE CRISIS

5. On the Historical Significance and Social Costs of the Subprime Financial Crisis: A Comparison with Japan, Makoto Itoh

6. Oil and Finance in the Global Markets, Carlos Morera Camacho and José Antonio Rojas Nieto

7. Developing Countries in the Era of Financialisation: From Deficit Accumulation to Reserve Accumulation, Juan Pablo Painceira

8. Global Integration of Middle-Income Developing Countries in the Era of Financialisation: The Case of Turkey, Nuray Ergüneş

References
Notes on Contributors
Index

 

**END**

 

‘Stagnant’ – a new remix and new video by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=YkP_Mi5ideo  

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

MySpace Profile: http://www.myspace.com/glennrikowski

Cold Hands & Quarter Moon: http://www.myspace.com/coldhandsmusic