Jens Beckert, Patrik Aspers (eds.): The Worth of Goods: Valuation and Pricing in the Economy (2011)
Filed under book | Tags: · art, economy, fashion, finance, market, sociology, value
How do we place value on goods – and, importantly, why? Valuation and pricing are core issues in the market economy, but understanding of these concepts and their interrelation is weak. In response, The Worth of Goods takes a sociological approach to the perennial but timely question of what makes a product valuable.
Structured in three parts, it first examines value in the broader sense – moral values and how they are formed, and the relations between economic and non-economic values – discussing such matters as the value of an oil spill, the price of a scientific paper, value in ethical consumption, and imaginative value. The second part discusses the issues surrounding valuation in aesthetic markets, specifically wine, fashion models, art, and the creative industries. The third part analyzes valuation in financial markets – credit rating agencies, stock exchange markets, and industrial production.
This pioneering volume brings together leading social scientists to provide a range of theoretical tools and case studies for understanding price and the creation of value in markets within social and cultural contexts and preconditions. It is an important source for scholars in economics, sociology, anthropology, and political science interested in how markets work, and how value is established.
– Interdisciplinary contributions from sociology, economics, political science, and marketing
– Presents empirical studies of both financial and some unusual markets – wine, art, fashion
– Pioneering work at intersection of sociology, economics, and marketing
– Chapters by leading international scholars in economic sociology
– Revisits both established theories of value and current thinking
Publisher Oxford University Press, 2011
ISBN 0199594643, 9780199594641
346 pages
Eugene W. Holland: Nomad Citizenship: Free-Market Communism and the Slow-Motion General Strike (2011)
Filed under book | Tags: · capitalism, citizenship, communism, deterritorialization, labour, market, nomadology, politics, schizoanalysis, value
Nomad Citizenship argues for transforming our institutions and practices of citizenship and markets in order to release society from dependence on the state and capital. It changes Deleuze and Guattari’s concept of nomadology into a utopian project with immediate practical implications, developing ideas of a nonlinear Marxism and of the slow-motion general strike.
Responding to the challenge of creating philosophical concepts with concrete applications, Eugene W. Holland looks outside the state to analyze contemporary political and economic development using the ideas of nomad citizenship and free-market communism. Holland’s nomadology seeks to displace capital-controlled free markets with truly free markets. Its goal is to rescue market exchange, not perpetuate capitalism—to enable noncapitalist markets to coordinate socialized production on a global scale and, with an eye to the common good, to liberate them from capitalist control.
In suggesting the slow-motion general strike, Holland aims to transform citizenship: to renew, enrich, and invigorate it by supplanting the monopoly of state citizenship with plural nomad citizenships. In the process, he offers critiques of both the Clinton and Bush regimes in the broader context of critiques of the social contract, the labor contract, and the form of the state itself.
Publisher University of Minnesota Press, 2011
ISBN 0816666121, 9780816666126
344 pages
review (Benjamin Noys, review31)
Comment (0)David Harvey: The Enigma of Capital And the Crises of Capitalism (2010)
Filed under book | Tags: · capitalism, economy, financial crisis, labour, market, peak oil, politics
For over forty years, David Harvey has been one of the world’s most trenchant and critical analysts of capitalist development. In The Enigma of Capital, he delivers an impassioned account of how unchecked neoliberalism produced the system-wide crisis that now engulfs the world.
Beginning in the 1970s, profitability pressures led the capitalist class in advanced countries to shift away from investment in industrial production at home toward the higher returns that financial products promised. Accompanying this was a shift towards privatization, an absolute decline in the bargaining power of labor, and the dispersion of production throughout the developing world. The decades-long and ongoing decline in wages that accompanied this turn produced a dilemma: how can goods–especially real estate–sell at the same rate as before if workers are making less in relative terms? The answer was a huge expansion of credit that fueled the explosive growth of both the financial industry and the real estate market. When one key market collapsed–real estate–the other one did as well, and social devastation resulted.
Harvey places today’s crisis in the broadest possible context: the historical development of global capitalism itself from the industrial era onward. Moving deftly between this history and the unfolding of the current crisis, he concentrates on how such crises both devastate workers and create openings for challenging the system’s legitimacy. The battle now will be between the still-powerful forces that want to reconstitute the system of yesterday and those that want to replace it with one that prizes social justice and economic equality.
Publisher Oxford University Press, 2010
ISBN 0199758719, 9780199758715
296 pages
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