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For much of American history, large numbers of people claimed that money was a public good and asserted the right to shape money creation practices. If popular knowledge about money creation was once widely shared, how and why did it disappear? In this astute new work, Jakob Feinig shows how the relation between money users and money-issuing governments changed from British colonial North America to today's United States, discussing how popular movements reshaped money-creating institutions, and how their opponents attempted to silence them. He also reveals how monetary and political history unfolds in the tension between "moral economies of money" and "monetary silencing." Offering an intro...
Economics has long modeled its theories on bakers and butchers rather than husbands, wives, lovers, and prostitutes. This book argues that exchanges involving sex and intimacy, far from being external or exceptional in relation to the workings of the economy, come closest to the reality of capitalist money. Undertaking an inquiry into the sexual economy of capitalism, Noam Yuran analyzes the erotic and gendered meanings that suffuse basic economic concepts, from money to the commodity. It is not entirely true, Yuran shows, that in capitalism everything has its price. In fact, the category of things money cannot buy, including love, forms a central axis around which capitalist economic life i...
"The story of how American banks helped disenfranchise nonwhite urbanities and condemn to blight the very neighborhoods that needed the most investment is infuriating. And yet, by digging into the history of urban finance, Rebecca Marchiel here illuminates how urban activists changed some banks' behavior to support investment in communities that they had once abandoned. These developments, in turn, affected federal urban policy and reshaped banks' understanding of the role that urban communities play in the financial system. The legacy of reinvestment activism is clouded, but Marchiel's detailing of it transforms our understanding of the history and significance of community/bank relations"--Provided by publisher.
In recent decades, the historical social sciences have moved away from deterministic perspectives and increasingly embraced the interpretive analysis of historical process and social and political change. This shift has enriched the field but also led to a deadlock regarding the meaning and status of subjective knowledge. Cultural interpretivists struggle to incorporate subjective experience and the body into their understanding of social reality. In the early twentieth century, philosopher Alfred Schutz grappled with this very issue. Drawing on Edmund Husserl’s phenomenology and Max Weber’s historical sociology, Schutz pioneered the interpretive analysis of social life from an embodied ...
How new technology is rapidly changing the nature of money and the way we pay A diverse and growing range of financial institutions and platforms—from PayPal and Venmo to WeChat, Alipay, and the brave new world of stablecoins—has harnessed new technology to disrupt the system of money and payments as we know it. Beyond Banks explains why this disruption holds out the promise of faster, cheaper, more convenient, and more secure payments, but also how it increasingly risks exposing consumers, businesses, and governments to the problem of bad money. Dan Awrey traces the origins of our current bundled system of banking, money, and payments. He explains why the problem of bad money—the resu...
This book assembles cutting edge contemporary research and thinking on multiple forms and meanings of displacements and their geographies: patterns of shifting, dislocation, or putting out of place; substitutions of one idea for another or the unconscious transfer of intense feelings or emotions; activities occurring outside their normal context; and replacements of one thing by another. The COVID-19 pandemic, declared by the World Health Organization in 2020, produced new displacements and intensified existing patterns of displacement and dispossession. At the same time, socionatural displacements - floods, fires, droughts, hurricanes, sea-level rise, species loss, and dislocation - were th...
Undertaken at the interface of critical theory and world literature, Moments of Capital sets out to grasp the unity and heterogeneity of global capital in the postcolonial present. Eli Jelly-Schapiro argues that global capital is composed of three synchronous moments: primitive accumulation, expanded reproduction, and the "synthetic dispossession" facilitated by financialization and privatization. These moments correspond to distinct economic and political forms, and distinct strands of theory and fiction. Moments of Capital integrates various intellectual traditions—from multiple trajectories of Marxist thought, to Weberian inquiries into the "spirit" of capitalism, to anticolonial accoun...
Today's global financial system bears little resemblance to what it was at the end of the twentieth century. Shadow banking—financial activity taking place outside existing regulatory frameworks—has grown so important that it now serves as the backbone of the entire system. The shadow banking system, however, is highly unstable and the main reason why the financial system has remained in crisis mode since the 2008 financial crisis. To maintain stability, central banks like the Fed and the European Central Bank have come to use radical new monetary policy instruments which were inconceivable until very recently. Without intervention on the part of central banks, existing financial systems...
This volume spans economics, history, sociology, law, graphic design, religion, environmental science, politics and more to offer a transdisciplinary examination of debt. From this perspective, many of our most pressing social and environmental crises are explored to raise critical questions about debt’s problems and possibilities. Who do we owe? Where are the offsetting credits? Why do such persistent deficits in care permeate so much of our lives? Can we imagine new approaches to balance sheets, measures of value, and justice to reconcile these deficits? Often regarded as a constraint on our ability to meet the challenges of our day, this volume reimagines debt as a social construct capable of empowering people to organize and produce sustainable prosperity for all. This text is ideal for provoking classroom discussions that not only point out the gravity of the crises we face in the twenty-first century, but also seeks to set readers’ minds free to create innovative solutions.
How did we end up in a world where social programs are routinely cut in the name of market discipline and fiscal austerity, yet large banks get bailed out whenever they get into trouble? In The Bailout State, Martijn Konings exposes the inner workings of this sprawling infrastructure of government guarantees. Backstopping financial markets and securing banks’ balance sheets, this contemporary Leviathan manages the inflationary pressures that its generosity produces by tightening the financial screws on the rest of the population. To a large extent, the bailout state was built by progressives seeking to buttress the institutions of the early postwar period. The resulting tide of capital gai...