The issue of the relation between financial derivatives, money and crisis remains one of on-going debate within Marxism. This paper takes issue with a recent contribution to this debate by Tony Norfield. We contend that the relationship between financial derivatives and the concept of ‘money’ needs to be framed in the context of a changing understanding of liquidity, and that issues of crisis and renewed accumulation are better understood though this path than via debates about speculative versus real investment and (...) productive versus unproductive capital. Indeed these latter taxonomies are being superseded by current developments within finance, and Marxian analysis needs to be attuned to these current developments. (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)

Taking Herbert Marcuse’s classic One-Dimensional Man as a critical point of departure, this contribution is framed around the insight that complex and contradictory underlying determinants in capitalism are subject to outcomes and appearances that are conceptualized as one-dimensioning. The latter involves reduction to multiple dimensions as opposed to a single dimension, or homogenisation for which presumed conformity to the market and monetisation are the most obvious manifestations. The argument is illustrated through an account of one-dimensioning within the history of economics (...) as a discipline since the marginalist revolution of the 1870s, and through the rise of financialized neoliberalism. (shrink)

In this review ofThe Limits to Capital in Spainby Greig Charnock, Thomas Purcell and Ramon Ribera-Fumaz andFin de Cicloby Isidro López and Emmanuel Rodríguez, I discuss how the two books advance our understanding of the Spanish crisis and the forms of resistance that have arisen since it began in 2008.