Hostname: page-component-77c89778f8-m8s7h Total loading time: 0 Render date: 2024-07-17T05:38:00.273Z Has data issue: false hasContentIssue false

Labor, Language, and Finance Capital

Published online by Cambridge University Press:  23 October 2020

Extract

Between the credit crunch and the greek debt crisis, the cohead of emea global finance kindly found time to walk me through the fixed-income trading floor of Barclays Capital. I noted no vestige of bull pen or bear pit in what seemed a high-end call center, but mainly I listened. At one point, in relation to derivatives trading, my guide spoke of “real money,” “less real money,” and “barely real money.” Perhaps prompted by the economic historian Robert Brenner's assurance that “the real economy” retains links to manufacture (1), I asked what made money real. The ensuing rebuke, graciously delivered, continues to give pause: “You sound like my father.” He had a point: given that I am a child of Britain's long postwar recovery through manufacture (there was no economic miracle here), might not my allegiance to a labor theory of value in matters literary be no more than an archaic, conditioned response? Karl Marx and Frederick Engels define language as “practical consciousness” made from “agitated layers of air” (51) and acting on a reality whose elements it renders inseparable from its processes. Their definition, in its subsumption of the intellectual in the laborious, might have been made for the academic son of a printer.

Type
Theories and Methodologies
Copyright
Copyright © Modern Language Association of America, 2011

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Works Cited

Aglietta, Michel. A Theory of Capitalist Regulation: The U.S. Experience. Trans. David Fernbach. London: Verso, 1979. Print.Google Scholar
Arrighi, Giovanni. The Long Twentieth Century: Money, Power and the Origins of Our Times. London: Verso, 2002. Print.Google Scholar
Brenner, Robert. “What Is Good for Goldman Sachs Is Good for America: The Origins of the Current Crisis.” Center for Social Theory and Comparative History, U of California, Los Angeles. 18 Apr. 2009. Web. 19 Jan. 2011.Google Scholar
De Brunhoff, Suzanne. Marx on Money. Trans. Maurice J. Goldbloom. New York: Urizen, 1976. Print.Google Scholar
Deleuze, Gilles, and Guattari, Félix. Anti-Oedipus: Capitalism and Schizophrenia. Trans. Robert Hurley, Mark Seem, and Helen R. Lane. London: Continuum, 2004. Print.Google Scholar
DeLillo, Don. Players. London: Vintage, 1984. Print.Google Scholar
Ellis, Bret Easton. American Psycho. London: Picador, 1991. Print.Google Scholar
Harvey, David. A Brief History of Neoliberalism. Oxford: Oxford UP, 2005. Print.CrossRefGoogle Scholar
Harvey, David. The New Imperialism. Oxford: Oxford UP, 2003. Print.CrossRefGoogle Scholar
Harvey, David. Spaces of Global Capitalism. London: Verso, 2006. Print.Google Scholar
Frederic, Jameson. “Culture and Finance Capital.” Critical Inquiry 24 (1997): 246–65. Print.Google Scholar
Lanchester, John. “Cityphilia.” London Review of Books 3 Jan. 2008. Print.Google Scholar
Lanchester, John. Whoops! Why Everyone Owes Everyone and No One Can Pay. London: Lane, 2010. Print.Google Scholar
Lipietz, Alain. The Enchanted World: Inflation, Credit and the World Crisis. Trans. Ian Patterson. Verso: London, 1985. Print.Google Scholar
LiPuma, Edward, and Lee, Benjamin. Financial Derivatives and the Globalization of Risk. Durham: Duke UP, 2004. Print.CrossRefGoogle Scholar
Martin, Randy. An Empire of Indifference: American War and the Financial Logic of Risk Management. Durham: Duke UP, 2007. Print.Google Scholar
Marx, Karl. Capital. Trans. Ben Fowkes. Vol. 1. London: Penguin, 1990. Print.Google Scholar
Marx, Karl. Capital. Vol. 3, pt. 1. New York: Cosimo, 2007. Print.Google Scholar
Marx, Karl, and Engels, Frederick. The German Ideology. London: Lawrence, 1999. Print.Google Scholar
Postone, Moishe. Time, Labor, and Social Domination. Cambridge: Cambridge UP, 1993. Print.CrossRefGoogle Scholar
Ricoeur, Paul. “The Metaphoric Process as Cognition, Imagination, and Feeling.” Critical Inquiry 5 (1978): 143–59. Print.CrossRefGoogle Scholar
Santner, Eric. On the Psychotheology of Everyday Life: Reflections on Freud and Rosenzweig. Chicago: U of Chicago P, 2001. Print.CrossRefGoogle Scholar