This article will take up Deleuze and Guattari’s allusive yet insightful writings on ‘the secret’ by considering the secret across three intermingling registers or modulations: as content (secret), as form (secrecy), and as expression (secretion). Setting the secret in relation to evolving modes of technological mediation and sociality as respectively pocket, pooling, and plasma, the article works through a trio of examples in order to understand the contemporary movements of secrets: the memories of secrets evoked in an intimately interactive music (...) video by the band Arcade Fire (as an example of ‘pocket’); the movements of secrecy turned fabulative in the scopic-doublings of airport full-body scanners (as ‘pooling’); and, finally, the collective secretions that come to saturate and stretch around the globe as expressed by liquidity-seeking financial innovations (providing an angle onto ‘plasma’). These three instantiations of contemporary secrecy are framed by a discussion of Julian Assange of WikiLeaks and Mark Zuckerberg of Facebook – truly a couple for our age: each intent, in their own way, upon bringing an end to secrets. Throughout, we try to maintain close attention to the emerging rhythms and dissonances that engage secrecy in a dance between the half-voluntary and the half-enforced. (shrink)

Certain strands of contemporary media theory are concerned with the ways in which computational environments exploit the ‘missing half-second’ of human perception and thereby influence, control or exploit humans at an affective level. The ‘technological unconscious’ of our times is often understood to work at this affective level, and high-frequency trading is regularly provided as a primary illustrative example of the contagious dynamics it produces. We challenge and complicate this account of the relation between consciousness, affect and media technologies by (...) drawing on the recent work of N. Katherine Hayles and by focusing in detail on the ways in which the ‘costs of consciousness’ are accounted for and negotiated in high-frequency trading. We suggest that traders actively develop modes of awareness accounting for the costs of consciousness, and that the necessary ‘stupidity’ of high-frequency trading algorithms as well as competition pose limits to the full automation of financial markets. (shrink)

The political economy of the information machine is discussed within the Marxist tradition of Italian operaismo by posing the hypothesis of an informational turn already at work in the age of the industrial revolution. The idea of valorizing information introduced by Alquati (1963) in a pioneering Marxist approach to cybernetics is used to examine the paradigms of mass intellectuality, immaterial labour and cognitive capitalism developed by Lazzarato, Marazzi, Negri, Vercellone and Virno since the 1990s. The concept of machinic by Deleuze (...) and Guattari (1972, 1980) is then adopted to extend Marx’s analysis of the industrial machine to the algorithms of digital machines. If the industrial machine can be described as a bifurcation of the domains of energy and information, this essay proposes to conceive the information machine itself as a further bifurcation between information and metadata. In conclusion, the hypothesis of the society of metadata is outlined as the current evolution of that society of control pictured by Deleuze (1990) in relation to the power embodied in databases. (shrink)

The aim of this article is to provide a discussion of scholarly ‘crisis of modernity’ discourses that have developed in the field of social philosophy. Re-visiting past and present discourses can be illuminating in at least three ways: it can reveal the broader picture of the present financialized and technologized world and the rise of financial technologies; it can provide scholars with new vocabularies, concepts, and metaphors to comprehend present-day phenomena and developments; and it can reveal the variety of commitments (...) that are possible, today, too. This article starts with a discussion of the original ‘crisis of modernity’ discourses, in which the clashing arguments of Comte and Tocqueville are featured, and a discussion of a second ‘crisis of modernity’ that developed in the context of the ‘Great Depression.’ A third ‘crisis of modernity’ discourse emerged in the wake of the financial crises of the 1970s. Such crises are still ongoing and discussed within the boundaries of the third ‘crisis of modernity’ discourse. How financial technologies do and do not fit within this third discourse is discussed in the remainder of this article. (shrink)

The article discusses the use of algorithmic models in finance (algo or high frequency trading). Algo trading is widespread but also somewhat controversial in modern financial markets. It is a form of automated trading technology, which critics claim can, among other things, lead to market manipulation. Drawing on three cases, this article shows that manipulation also can happen in the reverse way, meaning that human traders attempt to make algorithms ‘make mistakes’ by ‘misleading’ them. These attempts to manipulate are very (...) simple and immediately transparent to humans. Nevertheless, financial regulators increasingly penalize such attempts to manipulate algos. The article explains this as an institutionalization of algo trading, a trading practice which is vulnerable enough to need regulatory protection. (shrink)

The connections between forms of code and coding and the many crises that currently afflict the contemporary world run deep. Code and crisis in our time mutually define, and seemingly prolong, each other in ‘infinite branching graphs’ of decision problems. There is a growing academic literature that investigates digital code and software from a wide range of perspectives –power, subjectivity, governmentality, urban life, surveillance and control, biopolitics or neoliberal capitalism. The various strands in this literature are reflected in the papers (...) that comprise this special issue. They address topics ranging from social networks, mass media, financial markets and academic plagiarism to highway engineering in relation to the dynamics and diversity of crises. Against this backdrop, the purpose of this essay is to highlight and explore some of the underlying themes connecting codes and codings and the production and apprehension of ‘crisis’. We analyse how the ever-increasing intermediation of contemporary life by codes of various kinds has been closely shadowed by a proliferation of crises. We discuss three related aspects of the coupling of code and crisis (signification, performativity and excess) running across these seemingly diverse topics. We and the other contributors in this special issue seek to go beyond the restricted (and often restricting) understanding of code as the language of machines. Rather, we view code qua programs and algorithms as epitomizing a much broader phenomenon. The codes that we live, and that we live by, also tell us about the ways in which the ‘will to power’ and the 'will to knowledge' tend to be enacted in the contemporary world. (shrink)