Title:
What Difference do Derivatives Make? From the Technical to the Political Conjuncture
Author:
Randy Martin: Art and Public Policy, New York University, USA
DOI:
10.3384/cu.2000.1525.146189
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Full article (pdf)
Year:
2014
Volume:
6
Theme:
Theme: Capitalism: Current Crisis and Cultural Critique Edited by Johan Fornäs

Pages:
189-210
No. of pages:
22
Publication type:
Article
Published:
2014-02-20


In the aftermath of the great bailout of capital in 2008 (and still ongoing) finance has often been seen as external and parasitical to the real economy. Instead, finance and other forms of capital have become more closely articulated and interwoven. A critical social logic of the derivative is offered here, following on Marx’s analysis of the commodity, to consider what is meant by dominance of finance, what difference finance makes and the politics of debt. The derivative provides key insights into the apparently detached process by which money seems to beget more money, and at the same time discloses the internal socialization and interdependence that is at the root of a politically generative mutual indebtedness.

Keywords: Derivatives; financialization; debt; socialization; capital; commodi-ties; Marx; sociology

Volume 6, Theme:: Theme: Capitalism: Current Crisis and Cultural Critique Edited by Johan Fornäs

, Article 11, 2014

Author:
Randy Martin
Title:
What Difference do Derivatives Make? From the Technical to the Political Conjuncture:
DOI:
10.3384/cu.2000.1525.146189
Note: the following are taken directly from CrossRef
Citations:
  • Peter Booth (2016). The speculative social role of art and finance. European Journal of Cultural Studies, : 136754941665709. DOI: 10.1177/1367549416657090
  • Dick Brya & Michael Rafferty (2016). Decomposing Money: Ontological options and spreads. Journal of Cultural Economy, 9(1): 27. DOI: 10.1080/17530350.2014.993684
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