Capital and Language: From the New Economy to the War by Christian Marazzi

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By Christian Marazzi

The Swiss-Italian economist Christian Marazzi is without doubt one of the middle theorists of the Italian postfordist flow, in addition to Antonio Negri, Paolo Virno, and Bifo (Franco Berardi). yet even if his paintings is frequently mentioned by way of students (particularly by means of these within the box of "Cognitive Capitalism"), his writing hasn't ever seemed in English. This translation of his most up-to-date paintings, Capital and Language (published in Italian in 2002), eventually makes Marazzi's paintings on hand to an English-speaking viewers. Capital and Language takes as its start line the truth that the intense volatility of monetary markets is mostly attributed to the discrepancy among the "real economic system" (that of fabric items produced and bought) and the extra speculative monetary-financial financial system. yet this contrast has lengthy ceased to use within the postfordist New economic climate, within which either spheres are structurally tormented by language and verbal exchange. In Capital and Language Marazzi argues that the alterations in monetary markets and the transformation of work into immaterial exertions (that is, its reliance on summary wisdom, normal mind, and social cooperation) are only facets of an analogous coin. Capital and Language specializes in the explanations at the back of the foreign monetary and monetary melancholy of 2001, and at the basic device that the U.S. executive has due to the fact been utilizing to stand them: struggle. Marazzi issues to capitalism's fourth level (after mercantilism, industrialism, and the postfordist fruits of the hot Economy): the "War economic climate" that's already upon us. Marazzi deals an intensive new realizing of the present overseas monetary level and the most important post-Marxist suggestions for confronting capitalism in its most recent shape. Capital and Language additionally offers a take-heed call to a Left nonetheless nostalgic for a Fordist construct--a time prior to manufacturing unit changed into workplace (and place of work into home), and sooner than exertions grew to become linguistic.

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Extra info for Capital and Language: From the New Economy to the War Economy

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Exactly the contrary of the factory worker, for whom the eight hours of wage-labor were a kind of temporary death from which he awoke only when the siren sounded the end of the shift" (ibid,. p. 52) . Berardi's observations are a good starting point. What we would like to understand, in fact, is how the post-Fordist transformations of labor, in combination with processes of financialization, could give rise to that "financial convention," to that patrimonial individ­ ualism which shaped the New Economy, leading it to its takeoff and then to its crisis.

According to the authors, the techno­ logical revolution has certainly enlarged social access to information enormously, but the limitless growth in the supply of information conflicts with a limited human demand, which is all the more limited the more work time reduces the attention time we are able to dedicate to ourselves and to the people with whom we work and live. We are, that is, in a situation of information glut, of an excess, an overload, of information. The Sunday edition of the New York Times contains more information than all of the written material available to readers in the 1 5 th century.

The self-referentiality of the markets undoubt­ edly demonstrates the efficacy of the performative, but it is an efficacy that presupposes the negation of the body of the speakers (for example, of the investors who have internalized the dominant financial convention) . The self-referentiality of the absolute perfor­ mative, on the other hand, presupposes the body of the speaker. We have said that the process which, historically, leads to the fixing of a universally accepted convention is a process in which the multitude of economic actors becomes a community by selecting/electing a supraindividual convention in order to turn it into an interpretive model valid for all the players in the game of the market.

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