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1.
This article uses the 2015 film, The Big Short, to explore the limits of representing and critiquing Wall Street culture on film. Critics have praised the film, suggesting that it offers an account of the 2007–2008 financial crisis that both critiques Wall Street culture and democratizes financial knowledge. I argue that the film is an early representative example of a public narrative based on behavioral economics. A popular movie informed by this discipline has a good deal of political potential for challenging injustices produced by neoliberal approaches to the financial services industry. However, I also argue that despite this political potential, The Big Short is unable to fundamentally challenge the belief in efficient markets that justify many of Wall Street’s practices. I also argue that the film uses unexamined and problematic understandings of both class and gender in characterizing the film’s protagonists.  相似文献   

2.
WAGES OF SIN?     
The ‘global credit crunch’ is only the latest and most virulent among a series of financial crises stretching back to the 1970s and beyond. Yet, more than any of its predecessors, the current crisis is being presented in apocalyptical libidinal terms. Accounts of the crisis and its aftermath tend to be predicated on a sharp contrast drawn between prudent, conservative, risk averse, sober financial practice and a more exuberant, greedy, hedonistic, risky counterpart.

This kind psychosexual analysis is neither new, nor does it represent an accurate depiction of the dilemmas and challenges posed by modern finance. It tacitly suggests, for example, that a return to ‘traditional financial values’ (akin to repeated calls for returns to ‘family values’) would restore calm and normality to a system undermined by the excesses of the perverse few.

This paper argues that although a return to ‘traditional values’ is unlikely to solve any of the current problems, the representation of the crisis and its aftermath is significant. The crisis and its aftermath are embroiled in a wider fundamentalist and puritanical backlash against ‘hedonistic’ capitalism. It represents not a crisis of capitalism as a whole, but a schism within (predominantly) financial communities over the morality and acceptability of ‘risk’. As such, a strongly libidinal language already common within the markets is being adapted and redeployed to create new divisions and exceptions in the context of crisis.  相似文献   

3.
Amongst the many calls for regulatory reform voiced in the wake of the global financial crisis, the contributions of Andrew G. Haldane and his colleagues at the Bank of England stand out as some of the most politically and intellectually ambitious. In 2009, Haldane, the Bank's Executive Director of Financial Stability, delivered a speech advocating the integration of complex systems theory (particularly as developed in the field of ecosystems science) into the toolkit of financial regulation. In an effort to understand what is at stake in such calls for theoretical and regulatory regime change, this article traces the prehistory of complex systems thinking in economics. It focuses special attention on two contributions to this minor tradition – the little-known later work of the Austrian neoliberal, Friedrich von Hayek, who elaborated a philosophy of spontaneous economic order on the basis of complex systems theory, and the more recent work of the so-called ‘new institutionalists’, economists who lay claim to the tradition of ‘evolutionary’ philosophy articulated by the neoclassical Alfred Marshall. These exemplary currents in economic complexity theory articulate very similar critiques of the neoclassical orthodoxy yet diverge sharply in their political commitments. This paper situates recent calls to import complexity theory into financial regulation in ambivalent tension between the Austrian and new institutionalist traditions. It concludes with some skeptical reflections on the notion that the financial crisis signals the ‘death of neoliberalism’.  相似文献   

4.
Pielke  Roger  Linnér  Björn-Ola 《Minerva》2019,57(3):265-291

This paper critiques the so-called “Green Revolution” as a political myth of averted famine. A “political myth,” among other functions, reflects a narrative structure that characterizes understandings of causality between policy action and outcome. As such, the details of a particular political myth elevate certain policy options (and families of policy options) over others. One important narrative strand of the political myths of the Green Revolution is a story of averted famine: in the 1950s and 1960s, scientists predicted a global crisis to emerge in the 1970s and beyond, created by a rapidly growing global population that would cause global famine as food supplies would not keep up with demand. The narrative posits that an intense period of technological innovation in agricultural productivity led to increasing crop yields which led to more food being produced, and the predicted crisis thus being averted. The fact that the world did not experience a global famine in the 1970s is cited as evidence in support of the narrative. Political myths need not necessarily be supported by evidence, but to the extent that they shape understandings of cause and effect in policymaking, political myths which are not grounded in evidence risk misleading policymakers and the public. We argue a political myth of the Green Revolution focused on averted famine is not well grounded in evidence and thus has potential to mislead to the extent it guides thinking and action related to technological innovation. We recommend an alternative narrative: The Green Evolution, in which sustainable improvements in agricultural productivity did not necessarily avert a global famine, but nonetheless profoundly shaped the modern world. More broadly, we argue that one of the key functions of the practice of technology assessment is to critique and to help create the political myths that preserve an evidence-grounded basis for connecting the cause and effect of policy action and practical outcomes.

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5.
The post-2008 financial crisis era has seen an upsurge in popular cultural narratives that implicitly challenge principles of economic productivity, consumption and growth by lamenting a so-called ‘world of too much,’ advocating ethics of minimalism, and renouncing everyday busyness. Narratives range from lifestyle advice on simplicity and de-cluttering private homes, to quests for the reduction of individual labor, communication, social contacts and distraction. This article questions these narratives in terms of eco-politics. Using Kate Soper’s concept of ‘alternative hedonism,’ the article analyzes a selection of five self-help books and one blog that promote lifestyle minimalism in order to interrogate their potential in stimulating de-growth eco-politics through popular culture. Drawing on post-ecological theory, it argues that narratives of lifestyle minimalism are paradoxical in that they resist yet at the same time promote capitalist cultures of growth. To overcome this limitation, it is crucial to understand and transform the narrative premises of lifestyle minimalism in ways that contextualize problems of ‘excess,’ ‘clutter’ and ‘a world of too much’ as intrinsic to the current system of capital accumulation. The article concludes by reflecting on the potential of an eco-movement that joins the alternative culture of minimalist hedonism with the eco-political agenda of de-growth.  相似文献   

6.
The sociologist Bruno Latour has often expressed aversion to immanent critique, framing actor-network theory in terms of focus on visible phenomena. In spite of this, research on financial performativity inspired by Latour’s perspective can still be interpreted in terms of immanent critique and related to Political Economy (a critical discipline), through Kant’s critique of metaphysics as a ‘regulative axiom’. Research on financial performativity has uncovered evidence of the existence of constructive processes that show how an idea (like a financial model) can become something like an ‘object’. This ‘objectivity’ appears to contradict Kant’s critique of metaphysics – that there always remains a gap between our ideas and the world itself. This paper therefore explores financial performativity as a ‘contradiction’, historicizing it to argue that ‘Barnesian performativity’ and ‘financial liquidity’ are ‘immanent’ to one another in the events of recent financial crises. The paper conducts this interpretation to provide a new conceptualization of ‘financial liquidity’ that is more empirically apparent, helping to overcome some of the limits in the discussion of ‘liquidity’ in Political Economy (that Latour might want to highlight), where discussion occurs in metaphysical terms difficult to connect to actual events.  相似文献   

7.
The aim of this paper is to analyze the effect of electoral timing on municipal public cultural spending. We use a panel sample of all municipalities from the Spanish Region of Murcia for 1995–2008. Our results reveal that mayors adopt an opportunistic behavior, increasing cultural spending in the election year and reducing it in the second year after the election. We also investigate whether the electoral cycle in cultural spending is influenced by mayors’ ideology, political strength, willingness to run for re-election, and electoral competitiveness. In this regard, our study shows that when mayors expect close elections, political budget cycles’ size is greater. Concerning political leadership, the magnitude of the electoral cycle is influenced by mayors’ political ideology rather than mayors’ political strength and re-election willingness. Additionally, we seek to shed some light on the determinants of public cultural spending. We find that income and upper-level governments’ transfers have a positive impact on cultural spending. Finally, unemployment, young people’s proportion and elderly people’s proportion negatively influence cultural spending.  相似文献   

8.
Mainstream economics has consistently ignored the iconography of currency, describing money ‘just’ as a commodity. The paper is going to investigate the economic and political significance of the representations of authority and nationality in currency describing how these representation support its acceptability. The aim of the analysis is double: to decipher the visual identity of currency and its contribution to the acceptance of money in day-to-day transactions, as well as to discuss the operational principles of the monetary system as they are uncovered in the iconography of money. By answering these questions, the paper is going to trace the theoretical presuppositions and the cultural stereotypes that inform the representation of economic value and national identity as they are articulated in banknotes and coins with a specific emphasis on the European Monetary Union and the recent financial crisis that is still affecting its periphery.  相似文献   

9.
This paper investigates the underlying principle of ‘economy’ in the Greek Orthodox monastery of Vatopaidi, Mount Athos, in complementary relation to the monastic ideal of ‘virginity’ as the means of separating monastic from secular life. In this context, ‘economy’ represents an internal and external dichotomy: an economy within the spiritual self (‘economy of passions’) and the monastery (‘law of the house’), expressed in traditional practices, such as prayer, confession, psalmody, and painting; and an economy of relations between the monastery and the materialist ‘cosmopolitan’ world outside Athos, which is manifested by Vatopaidi's strong financial and political status in the Orthodox world. The material reveals the overlapping connection between the notions of the ‘self’, the ‘monastery’, and the ‘world’, in order to critically evaluate the cultural economy of Vatopaidi in relation to its historical past, and in connection to its present political and economic status within and against the Greek state.  相似文献   

10.
HALDANE'S GAMBIT     
This article considers the body of work which Andrew Haldane has published since the onset of financial crisis. It draws a distinction between two kinds of criticism in that work: Haldane's interference through political arithmetic on the costs of finance and Haldane's big concept of the financial network using metaphors drawn from the life sciences. His readers have mainly focused on Haldane's innovation through concept and network metaphor while neglecting his political arithmetic and empirics on the costs of finance. But this article argues that Haldane's political arithmetic on costs is an important radical intervention when the finance sector is deflecting reform with a trade narrative about the social benefits of finance.  相似文献   

11.
ABSTRACT

Since the global financial crisis of 2008 the issue of corporate tax avoidance has gained considerable political salience and public attention. This article explores the frameworks of meaning available for citizen-consumers to evaluate and form views on corporate tax behaviour. Building on research on the spatiality of taxation, I argue that brands and their spatial associations afford significant resources for making sense of the taxpaying responsibilities of multinational enterprises. Through the identification and analysis of three different forms of geographical entanglement – national origination, imbrication in the public domain, and territorialization of economic activity – I draw out the responsibilities that are inferred by these spatial associations. I propose that brands’ geographical entanglements tend to support a particular ‘logic of onshoring’, or common sense explanation concerning where corporations ought to pay tax, and I discuss the implications that the dominance of this logic may hold for the global politics of taxation. In drawing attention to the relationship between geographies of brands and geographies of taxation, the article furthers critical understanding of the role of space and place in everyday taxation imaginaries, and proposes an agenda for future research.  相似文献   

12.
Abstract

The imagining of space has been an important topic in recent geographical studies. Especially in the geographical study of literature, ‘literary geography’, the manner of contesting the frames of ‘fact’ and ‘fiction’ has aroused more and more attention during recent years. Metafiction, consciousness of a text’s own imaginativeness and the discourses behind it, has not yet been explicitly discussed in the field of literary geography, although some tangential approaches have been applied. The main purpose of this paper is to discuss how the metafictive reading of literature functions as an alternative way of approaching the imagining of space, offering an original ‘methodological’ viewpoint for perceiving space, culture and society. The specific focus is on how space becomes metafictive through literary ‘means’ such as divergent narrative and textual strategies, exceptional typographies and ironic writing. At the same time the paper considers how the metafictive continuum between the frames of ‘fact’ and ‘fiction’ may function as a tool for delving more deeply into the discursiveness of the human imagination.  相似文献   

13.
Abstract

This article looks at Marco Bellocchio’s 2002 film My Mother’s Smile to re‐assess the central feature of Bellocchio’s cinema, i.e. its attempt to delineate a subjective strategy of subversion against a social order perceived as fundamentally repressive. In line with the director’s previous output, the film takes the Catholic Church and the family as its explicit polemical targets, endeavouring to unmask the nefarious ideological pressure they exercise on the ordinary individual in today’s Italian society. However, my reading draws on Lacanian psychoanalytic theory to try and locate the disavowed (unconscious) kernel of Bellocchio’s narrative. Deploying Lacan’s controversial musings on ‘the gaze’, ‘desire’ and ‘femininity’, I suggest that the true stance of rebellion voiced by the film’s protagonist hinges on his recognition that the inconsistency of the ideological predicament he consciously struggles against paradoxically coincides with the traumatic inconsistency at the heart of his own attitude of defiance.  相似文献   

14.
Since its creation in 2009, the electronic currency Bitcoin has generated volumes of online debate in the business press. While there have been plenty of economic arguments situating it as a financial bubble about to collapse including from Nobel Prize winning economists, its price value has proven to be more durable than many have predicted. To explain this durability, Karpik’s conception of market singularities is used to understand the Bitcoin phenomenon by outlining the beliefs that maintain Bitcoin’s status as a volatile financial asset. Market singularities are markets for particular kinds of goods and services that are of uncertain and incommensurable value. Singularities markets have communities of followers and a distinctive belief system that ascribes value to a particular product, service, or asset. Developing Karpik’s conception, the paper explores the libertarian political belief system that surrounds Bitcoin’s status as a financial asset. I also outline some political tensions within the electronic currency community concerning governance and centralisation.  相似文献   

15.
Fantasies and especially excessive or ‘phantascistic’ fantasies, as they are referred to here, have the power to suppress within political communities, consciously and unconsciously alike, inner antagonisms in times of crisis. More precisely, they help to blur aporias within the ideological structures of a community through the evocation of a sensus communis (Kant) that establishes the community anew, similar to an act of religious conversion. Their impact on the space of reasons is analysed in this article as one that does not take part in the game of giving and asking for reasons, but operates in the background of communal reason via an emotionally and clandestine ‘code’ of what it means to be ‘We?…?– We who we are’. Next to theoretical elaborations of how and why these phantascistic fantasies are produced, the theory will be further explained through a series of exemplifications demonstrating the way that it has played out across a long history of conflict in the Middle East and a shorter history of contemporary politics in the United States. Through all of this, the aim is to illustrate how very concrete excessive fantasies have an impact on a body politic's form of enjoyment.  相似文献   

16.
This article departs from the post 2008 financial crisis context, from its intersection with technological developments, and from the socio-technical arrangements configured by this conjuncture. It explores plans and actions – of mainstream financial institutions, and of a community seeking for alternatives to centralised economy and governance – for the use of digital platforms supported by blockchain infrastructure. In particular, it explores how such plans and actions relate to conceptions of public and peer trust and how they appear to produce, or reinforce, reputational imaginaries and quantification practices within added value philosophies. By illuminating a tension between the two identified case examples, I seek to render alternative communities’ and financial institutions’ conceptions, imaginaries and practices (more) visible and to analyse their organisational marketing strategies – where there is a pragmatic and discursive operationalisation of technology as well as of trust as means to gain more self-sovereignty in action, while navigating markets and regulated actual world contexts.  相似文献   

17.
This paper contends that political economy may profit from an understanding of money that is both able to account for its systemic importance as well as money’s specific role for the contemporary distribution of wealth. ‘Money-ness’ is a strategic factor in profit-making and capital accumulation. If we accord moneyness to all those instruments that make the repackaging of credit and other financial assets and liabilities and their capitalization possible, we arrive at an understanding of money that underscores the Marxian analysis of the structural importance of the money relation for capital accumulation that is up to speed with current financial innovations. As a social structure and process, moneymaking through capital permeates society. As a public-private deal between the state, rentiers, banks, and taxpayers that has existed since the foundation of the Bank of England in 1694, it binds these actors together in shifting relations of dependence. Under financial capitalism today, what counts as money and how far moneyness stretches into the realms of financial innovation has been a core object of struggle in the public-private deal of money creation.  相似文献   

18.
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19.
Environmental policy increasingly resorts to market-based instruments in order to meet sustainability objectives. The ‘carbon market’ instituted by the European Emissions Trading directive from 2003 is a canonical example, which has been described, and critiqued, as a delegation of policy objectives to market exchanges. In this paper, we examine the complex ways in which the operationalization of policy objectives and the organization of markets are intertwined, focusing on two other examples of European environmental regulation. The first one is the Integrated Pollution Prevention and Control directive from 1996, which defined the ‘best available techniques’ to curb emissions in air, water and soil. The second one is the Renewable Energy Directive from 2009, which introduced criteria for the definition of the sustainability of biofuels. Through the analysis of the design and implementation of these two directives, we identify a central concern for the coexistence of various objects, and various initiatives undertaken by European institutions, member states and private actors. We use the notion of coexistence to describe a European political and economic ordering that is inherently hybrid, and cannot be reduced to a mere delegation of policy objectives to the market, or a legal constraint imposed on all European actors. It grounds its political legitimacy and economic rationality on the distribution of roles and responsibilities across public and private actors, and on the ability to ‘keep things different’ according to local variabilities.  相似文献   

20.
This paper provides a posthumanist performative reading of spaces of disposal as sites of economic activity. Its empirical focus is ship breaking, as practices and political techniques. Drawing on the work of Donald Mackenzie, Karen Barad and Jane Bennett, it frames ship disposal as a boundary-making intervention in the world and as part of the demolition assemblage. The paper challenges the oppositional politics that characterise international debate about ship disposal. Through an articulation of the academic register and literary narrative, the paper develops a material politics of ship disposal which draws connections, rather than making distinctions, between labouring bodies in different parts of the world. It reconfigures ship disposal through a material politics that centres the proximate intimacy of human bodies, demolition technologies and vital inorganic materials, highlighting the importance of shared corporeal vulnerabilities, a biopolitics of occupational health and a material politics of globalisation where the long distance associations are temporal, of a ‘now’ and future-past ‘then’.  相似文献   

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