Jamal Awil

← Cultures of Financialization

I want to suggest that financialization is symptomatic and constitutive of a historically specific. [fact]

I want to suggest that financialization is symptomatic and constitutive of a historically specific capitalist mediation of the flows of social reproduction. It is a force not simply driven by some autonomous logic or shadowy oligarchy, but reproduced, at least in part, on the level of everyday life. And, in turn, it provides resources for a very particular, delimited and, I would suggest, ultimately disastrous form of personal and social reproduction through debt, speculation and securitization. In other words, financialization (re)produces those technologies of the self, those social practices, those relationships, those forms of ‘freedom’ and ‘creativity’ and those idioms of value that, in turn, are reproductive of financialization and the forms of capitalist power it serves.

Max Haiven, Cultures of Financialization, loc. 129