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

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By Christian Marazzi

An important theorist within the Italian postfordist stream deals an intensive new knowing of the present foreign fiscal scenario.

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Extra info for Capital and Language: From the New Economy to the War Economy (Semiotext(e) Foreign Agents)

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If this quantitative increase in the time dedicated to professional and domestic work is then ana­ lyzed in light of the new characteristics of productive time resulting form the post-Fordist transformation of work, it becomes evident that the question of time and the reduction of professional time is quite complex and in no way resolvable in purely contractual terms. The only point on which there exists what we might call a general consensus is the reduction of work time immediately nec­ essary to material production, which is to say the reduction of time dedicated to the execution of manual actions in the production of objects.

Language and Multitude The third level of language analysis concerns what happens when the action of the faculty of difference "inside" symbolic language causes its wrapping to, we might say, explode (as when the passage from the maternal womb to the outside world causes the placenta to "explode") . By making reference to a category elaborated by John L. Austin (see his work with the exceedingly meaningful title, How To Do Things With WOrds, 1 97 5 ) , in the field of the philosophy of lan­ guage, it can be submitted that a convention, that convention which we have seen acting on the financial markets, is the fruit of a series of performative utterances, that is, utterances which do not describe a state of things but which immediately produce real facts.

The silent revolution in pension funds, as we have seen, was in step with the crisis of the Fordist model centered not only on the centrality of the manufacturing sector and union mediation but, above all, on the salary relationship. The Fed's 1 979 monetarist turn transformed salaries into an adjustment variable of the financial market. The overall income of workers and, through stock options, of management, was now tied to capitalist risk through the destandardization of salaries and the individualization of contract relationships.

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