An updated edition of a groundbreaking work on the global financial crisis from a postfordist perspective. The 2010 English-language edition of Christian Marazzi's The Violence of Financial Capitalism made a groundbreaking work on the global financial crisis available to an expanded readership. This new edition has been updated to reflect recent events, up to and including the G20 summit in July 2010 and the broad consensus to reduce government spending that emerged from it. Marazzi, a leading figure in the European (...) postfordist movement, argues that the processes of financialization are not simply irregularities between the traditional categories of wages, rent, and profit, but rather a new type of accumulation adapted to the processes of social and cognitive production today. The financial crisis, he contends, is a fundamental component of contemporary accumulation and not a classic lack of economic growth. Marazzi shows that individual debt and the management of financial markets are actually techniques for governing the transformations of immaterial labor, general intellect, and social cooperation. The financial crisis has radically undermined the very concept of unilateral and multilateral economico-political hegemony, and Marazzi discusses efforts toward a new geomonetary order that have emerged around the globe in response. Offering a radically new understanding of the current stage of international economics as well as crucial post-Marxist guidance for confronting capitalism in its newest form, The Violence of Financial Capitalism is a valuable addition to the contemporary arsenal of postfordist thought. This edition includes the glossary of the esoteric neolanguage of financial capitalism—”Words in Crisis,” from “AAA” to “toxic asset”—written for the first English-language edition, and offers a new afterword by Marazzi. (shrink)

Christian Marazzi's first book: a post-Fordist classic on the roots to economic crises in the contemporary age. Communication as work: we have recently experienced a profound transformation in the processes of production. While the assembly line excluded any form of linguistic productivity, today, there is no production without communication. The new technologies are linguistic machines. This revolution has produced a new kind of worker who is not a specialist but is versatile and infinitely adaptable. If standardized mass production was dominant (...) in the past, today we produce an array of different goods corresponding to specific consumer niches. This is the post-Fordist model described by Christian Marazzi in Capital and Affects. Tracing the development of this new model of labor from Toyota plants in Japan to the most recent innovations, Marazzi's critique goes beyond political economy to encompass issues related to social life, political engagement, democratic institutions, interpersonal relations, and the role of language in liberal democracies. This translation at long last makes Marazzi's first book available to English readers. Capital and Affects stands not only as the foundation to Marazzi's subsequent work, but as foundational work in post-Fordist literature, with an analysis startlingly relevant to today's troubled economic times. This Semiotext edition includes the afterword Marazzi wrote for the 1999 Italian edition. (shrink)

The debtor-creditor relation, which is at the heart of this book, sharpens mechanisms of exploitation and domination indiscriminately, since, in it, there is no distinction between workers and the unemployed, consumers and producers, working and non-working populations, between retirees and welfare recipients. They are all "debtors," guilty and responsible in the eyes of capital, which has become the Great, the Universal, Creditor.--from The Making of the Indebted Man Debt -- both public debt and private debt Has become a major concern (...) of economic and political leaders. In The Making of the Indebted Man, Maurizio Lazzarato shows that, far from being a threat to the capitalist economy, debt lies at the very core of the neoliberal project. Through a reading of Karl Marx's lesser-known youthful writings on John Mill, and a rereading of writings by Friedrich Nietzsche, Gilles Deleuze, Felix Guattari, and Michel Foucault, Lazzarato demonstrates that debt is above all a political construction, and that the creditor/debtor relation is the fundamental social relation of Western societies.Debt cannot be reduced to a simple economic mechanism, for it is also a technique of "public safety" through which individual and collective subjectivities are governed and controlled. Its aim is to minimize the uncertainty of the time and behavior of the governed. We are forever sinking further into debt to the State, to private insurance, and, on a more general level, to corporations. To insure that we honor our debts, we are at once encouraged and compelled to become the "entrepreneurs" of our lives, of our "human capital." In this way, our entire material, psychological, and affective horizon is upended and reconfigured. How do we extricate ourselves from this impossible situation? How do we escape the neoliberal condition of the indebted man? Lazzarato argues that we will have to recognize that there is no simple technical, economic, or financial solution. We must instead radically challenge the fundamental social relation structuring capitalism: the system of debt. (shrink)

The debtor-creditor relation, which is at the heart of this book, sharpens mechanisms of exploitation and domination indiscriminately, since, in it, there is no distinction between workers and the unemployed, consumers and producers, working and non-working populations, between retirees and welfare recipients. They are all "debtors," guilty and responsible in the eyes of capital, which has become the Great, the Universal, Creditor.--from The Making of the Indebted Man Debt -- both public debt and private debt -- has become a major (...) concern of economic and political leaders. In The Making of the Indebted Man, Maurizio Lazzarato shows that, far from being a threat to the capitalist economy, debt lies at the very core of the neoliberal project. Through a reading of Karl Marx's lesser-known youthful writings on John Mill, and a rereading of writings by Friedrich Nietzsche, Gilles Deleuze, Félix Guattari, and Michel Foucault, Lazzarato demonstrates that debt is above all a political construction, and that the creditor/debtor relation is the fundamental social relation of Western societies.Debt cannot be reduced to a simple economic mechanism, for it is also a technique of "public safety" through which individual and collective subjectivities are governed and controlled. Its aim is to minimize the uncertainty of the time and behavior of the governed. We are forever sinking further into debt to the State, to private insurance, and, on a more general level, to corporations. To insure that we honor our debts, we are at once encouraged and compelled to become the "entrepreneurs" of our lives, of our "human capital." In this way, our entire material, psychological, and affective horizon is upended and reconfigured. How do we extricate ourselves from this impossible situation? How do we escape the neoliberal condition of the indebted man? Lazzarato argues that we will have to recognize that there is no simple technical, economic, or financial solution. We must instead radically challenge the fundamental social relation structuring capitalism: the system of debt. (shrink)

Unruly Practices brings together a series of widely discussed essays in feminism and social theory. Read together, they constitute a sustained critical encounter with leading European and American approaches to social theory. In addition, Nancy Fraser develops a new and original socialist-feminist critical theory that overcomes many of the limitations of current alternatives. First, in a series of critical essays, she deploys philosophical and literary techniques to assess the work of Michael Foucault, the French deconstructionists, Richard Rorty, and Jürgen Habermas. (...) Then, in a group of constructive essays, she incorporates their respective strengths in a new critical theory of late-capitalist political culture. Fraser breaks new ground methodologically by integrating the previously divergent insights of poststructuralism, critical social theory, feminist theory, and pragmatism. Thematically, she deals with varied forms of dominance and subordination in modern, industrial, late-capitalist societies. These themes are integrated in an original theory of 'the politics of need interpretation.' This concept becomes the linchpin of the socialist-feminist critical theory. (shrink)

This paper pursues two goals. The first concerns clarifying the relationship between Deleuze and the Russian linguist and culturologist, Mikhail Bakhtin. Not only does Deleuze refer to Bakhtin as a primary source for his emphasis on voice and indirect discourse, both thinkers valorise heterogeneity and creativity. I argue Deleuze's notions of ‘deterritorialisation’ and ‘reterritorialisation’ parallel Bakhtin's idea of ‘heteroglossia’ and ‘monoglossia’. Clarifying the relationship between Deleuze and Bakhtin leads directly to the second of my two other goals. I will argue (...) that an important difference in their characterisation of voice reveals a strong point in Deleuze's philosophy, one related to the political sphere. At the same time, however, Deleuze's particular way of articulating this point conceals a weakness, one related to the idea of the subject. I will conclude my paper by suggesting a way to address this weakness. (shrink)

This book is not only a major twentieth-century contribution to Dostoevsky’s studies, but also one of the most important theories of the novel produced in our century. As a modern reinterpretation of poetics, it bears comparison with Aristotle.“Bakhtin’s statement on the dialogical nature of artistic creation, and his differentiation of this from a history of monological commentary, is profoundly original and illuminating. This is a classic work on Dostoevsky and a statement of importance to critical theory.” Edward Wasiolek“Concentrating on the (...) particular features of ‘Dostoevskian discourse,’ how Dostoevsky structures a hero and a plot, and what it means to write dialogically, Bakhtin concludes with a major theoretical statement on dialogue as a category of language. One of the most important theories of the novel in this century.” The Bloomsbury Review. (shrink)

Italian political thinker Paolo Virno argues that the category of "multitude" is a far better tool to analyze contemporary issues than the Hobbesian concept of "people." Globalization is forcing us to rethink some of the categories—such as "the people"—that traditionally have been associated with the now eroding state. Italian political thinker Paolo Virno argues that the category of "multitude," elaborated by Spinoza and for the most part left fallow since the seventeenth century, is a far better tool to analyze contemporary (...) issues than the Hobbesian concept of "people," favored by classical political philosophy. Hobbes, who detested the notion of multitude, defined it as shunning political unity, resisting authority, and never entering into lasting agreements. "When they rebel against the state," Hobbes wrote, "the citizens are the multitude against the people." But the multitude isn't just a negative notion, it is a rich concept that allows us to examine anew plural experiences and forms of nonrepresentative democracy. Drawing from philosophy of language, political economics, and ethics, Virno shows that being foreign, "not-feeling-at-home-anywhere," is a condition that forces the multitude to place its trust in the intellect. In conclusion, Virno suggests that the metamorphosis of the social systems in the West during the last twenty years is leading to a paradoxical "Communism of the Capital.". (shrink)

The language theory of Mikhail Bakhtin does not fall neatly under any single rubric - 'dialogism,' 'marxism,' 'prosaics,' 'authorship' - because the philosophic foundation of his writing rests ambivalently between phenomenology and Marxism. The theoretical tension of these positions creates philosophical impasses in Bakhtin's work, which have been neglected or ignored partly because these impasses are themselves mirrored by the problems of antifoundationalist and materialist tendencies in literary scholarship. In Mikhail Bakhtin: Between Phenomenology and Marxism Michael Bernard-Donals examines various incarnations (...) of phenomenological and materialist theory - including the work of Jauss, Fish, Rorty, Althusser, and Pecheux - and places them beside Bakhtin's work, providing a contextualised study of Bakhtin, a critique of the problems of contemporary critics, and an original contribution to literary theory. (shrink)

'This book is a masterpiece of theoretical thought. It anticipates the actual achievements of much of what we now call sociolinguistics.

When, in the early 1980s the ideas of post-structuralism seemed rampant within academic critical theory, the appearance of the flawed English translation of Mikhail Bakhtin's central essays on the novel seemed to offer a very promising alternative perspective.1 Bakhtin's model of discursive relations promised to guard the specificity of discourse from being obscured by a web of determinations, while allowing the development of an account of the operations of power and resistance in discourse that could avoid the nullity of Derrida's (...) hors-texte and the irresponsible semiotic hedonism of the later Barthes. Marxist theorists such as Raymond Williams, Terry Eagleton and Allon White immediately and effectively seized upon the translated work of the Bakhtin circle to bolster their arguments, but, as translations of the earlier and later philosophical material appeared, it became apparent that the relationship between work of the circle and the Marxist tradition was very problematic. With this, the American anti-Marxist Slavists – some of whom had been responsible for certain of these translations – moved onto the offensive, arguing that Bakhtin's work was fundamentally incompatible with, and in principle hostile to, Marxism. Occasionally, they went further, arguing that Bakhtin was quite unconcerned with politics and questions of power, being an ethical, or even a religious philosopher before all else. The Americans did have a point. Bakhtin certainly was not a Marxist and the Marxism of some of his early colleagues and collaborators was of a rather peculiar sort. Furthermore, the key problematic area was indeed Bakhtin's ethics which, it became ever more apparent, underlies his most critically astute and productive work and serves to blunt its political edge. Important points of contact between the work of the Bakhtin circle and Marxist theory do persist, however, as Ken Hirschkop and Michael Gardiner, among others, have continued to register. In this article, examining some of the sources of Bakhtin's philosophy, which have only just been revealed in the new Russian edition of his work, we shall analyse the features of Bakhtin's ethics that stifle the political potential of dialogic criticism, and we will suggest ways in which that potential may be liberated. (shrink)

Negri, a leading Marxist philosopher, has inspired anti-empire movements around the world through his writings and personal example. This work, which began as a conversation between Negri and literary critic Casarino, is the most complete review of the philosopher's work.

As part of the Historical Materialism research stream on immaterial labour, cognitive capitalism and the general intellect, begun in issue 15.1, this articles explores the importance of the expression 'general intellect', proposed by Marx in the Grundrisse, for an analysis of linguistic and intellectual work in contemporary capitalism. It links the notion of general intellect to the crisis of the law of value, the political significance of mass intellectuality, and the definition of democracy in a world where knowledge is a (...) productive force in its own right. (shrink)

Forms of contemporary life attest to the dissolution of the concept of the ‘people’ and the renewed importance of the idea of the ‘multitude’. Though they took center stage in the seventeenth century debate that spawned much of our ethico-political lexicon, these two notions are polar opposites. The ‘people’ is by its very nature centripetal. Converging towards a general will, it acts as an interface between citizens and the State. The ‘multitude’ is plural. Fleeing all political unity, it shuns negotiations (...) with the sovereign and refuses to delegate its rights to that power; it is a recalcitrant and disobedient entity with a taste for certain forms of non-representative democracy. For example, Hobbes claims that citizens in rebellion against the State represent “the multitude against the people.” But while Hobbes spotted the greatest hindrance to the workings of the State within this multitude, Spinoza found in it the roots of liberty. The political existence of ‘multiples’ as such has been stricken from the horizon of modernity: not only by Absolute State theorists, but also by Rousseau, the liberal tradition, and the socialist movement itself. (shrink)