By Christian Marazzi
The Swiss-Italian economist Christian Marazzi is likely one of the middle theorists of the Italian postfordist stream, besides Antonio Negri, Paolo Virno, and Bifo (Franco Berardi). yet even if his paintings is usually mentioned via students (particularly through these within the box of "Cognitive Capitalism"), his writing hasn't ever seemed in English. This translation of his most modern paintings, Capital and Language (published in Italian in 2002), ultimately makes Marazzi's paintings on hand to an English-speaking viewers. Capital and Language takes as its start line the truth that the intense volatility of monetary markets is mostly attributed to the discrepancy among the "real economic climate" (that of fabric items produced and offered) and the extra speculative monetary-financial economic system. yet this contrast has lengthy ceased to use within the postfordist New financial system, during which either spheres are structurally plagued by language and conversation. In Capital and Language Marazzi argues that the alterations in monetary markets and the transformation of work into immaterial exertions (that is, its reliance on summary wisdom, normal mind, and social cooperation) are only facets of an analogous coin. Capital and Language specializes in the reasons in the back of the foreign monetary and monetary melancholy of 2001, and at the basic tool that the U.S. govt has seeing that been utilizing to stand them: struggle. Marazzi issues to capitalism's fourth degree (after mercantilism, industrialism, and the postfordist end result of the hot Economy): the "War financial system" that's already upon us. Marazzi bargains a thorough new realizing of the present overseas monetary level and the most important post-Marxist suggestions for confronting capitalism in its most recent shape. Capital and Language additionally offers a warning sign to a Left nonetheless nostalgic for a Fordist construct--a time earlier than manufacturing unit became workplace (and workplace into home), and earlier than exertions turned linguistic.
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Additional info for Capital and Language: From the New Economy to the War Economy
Skills, rather than professional qualifications, are put to work and with them workers' emotions, feelings, their after-work lives, we might say the whole life of the linguistic community. Thanks to new technologies and to the reticular organization of productive/distributive processes, knowledge is no longer embodied in "some other thing," in machines or materials or finished products, but in knowledge work itself. Communication support systems codes, languages, shared meanings-allow knowledge to circulate on its own, independently of fixed capital and legal ownership.
By making reference to a category elaborated by John L. Austin (see his work with the exceedingly meaningful title, How To Do Things With WOrds, 1 97 5 ) , in the field of the philosophy of lan guage, it can be submitted that a convention, that convention which we have seen acting on the financial markets, is the fruit of a series of performative utterances, that is, utterances which do not describe a state of things but which immediately produce real facts. If we consider language to be not only an instrument used in institutional reality to describe facts, but also to create them, then in a world in which institutions like money, property, marriage, technologies, work itself, are all linguistic institutions, what molds our con sciousness, language, becomes at the same time an instrument of production of those same real facts .
Note that this does not mean that the financial markets create their own specific currency, distinct from that created by the central bank; it means that the central bank, in order to perform its role as the creator of money in the last instance to assure the circulation of liquid assets, is forced to follow the movements of the financial markets) . Where the creation of liquidity is preeminently a banking function, sovereignty belongs to the national State. Where, on the other hand, the creation of liquidity is preeminently financial, sovereignty belongs to public opinion and the sociofinancial convention which is historically p roper to it.
Capital and Language: From the New Economy to the War Economy by Christian Marazzi