The question of capitalism’s relationship to issues of race, racism and processes of racialisation has become increasingly prominent in contemporary debates. This special issue of Historical Materialism on ‘Race and Capital’ seeks to intervene in these debates. In this Introduction, we situate the special issue within this wider political, historical and theoretical context. We begin by reconstructing some of the key tensions and fault lines within contemporary discussions of race and racism, particularly in relation to the Marxist tradition. Against those (...) who claim a primarily oppositional relationship between the Marxist tradition and anti-racist thinking, we chart a historical account of key moments in which Marxist movements and thinkers have attempted to articulate distinctively historical-materialist accounts of race and racism. We then situate the key themes of the special issue – and the various articles that compose the issue – against this background. (shrink)

Racial capitalism depends on the reproduction of an existing racialized economic order. In this article, I argue that the disavowal of past injustice is a central way in which this reproduction is ensured and that market-based forms of knowledge production, such as for-profit predictive practices, play a crucial role in facilitating this disavowal. Recent debates about the fairness of algorithms, data justice, and predictive policing have intensified long-standing controversies, both popular and academic, about the way in which statistical and financial (...) modes of accounting and predicting articulate, represent and produce ascriptive categories of hierarchically ordered social difference, and reproduce unjust social hierarchies and inequalities. These debates have productively problematized the racial lives of seemingly apolitical predictive technologies and demanded the re-politicization of predictive practices. What has been missing from these debates so far, however, is a more explicit engagement with ways in which anti-racist movements and activists themselves have contested the entanglements of prediction and race making. I turn to a recent prominent example, namely the contestation over racial discrepancies in subprime lending to examine how fair lending activists have conceptualized and troubled the reproduction of a racialized economic order through for-profit predictive practices in the decade before the Great Financial Crisis. I situate this particular example in the broader historical and political context of politicizing prediction that first emerged with the ascendancy of a liberal, individualist-proprietary conception of risk, and the political problem space to which this has given rise. My analysis shows that actuarial conceptions of fairness continue to reverberate in anti-racist contestations of for-profit predictive practices, and that they tend to marginalize and undercut more radical strands of critique of the racialization of financial markets. Insofar as these modalities of contestation implicitly reproduce a liberal, proprietary-individualist conception of risk, I argue, they fail to effectively challenge the quasi-alchemical transformation of injustice into personal responsibility, and thus contribute to the disavowal of past injustice. (shrink)

Basado en un trabajo de once meses de investigación etnográfica comprometida con la Plataforma de Afectados por la Hipoteca en Barcelona y en Sabadell, este artículo argumenta que la financiarización de la vivienda va de la mano de la financiarización de la vida misma, la cual incluye la subjetividad y el cuerpo. La financiarización de la vida tiene lugar cuando esta se incorpora a los mecanismos de extracción de rentas a través de los circuitos de acumulación de capital, es decir, (...) a través de un proceso de proletarización. Este artículo muestra cómo, ante la imposibilidad de pagar, esta vida proletarizada en la relación hipotecaria se convierte en una vida fallida. Desarrollo estos argumentos de forma teórica en relación a la economía política y desde la experiencia de personas afectadas por la hipoteca. (shrink)