By Christian Marazzi
An important theorist within the Italian postfordist move deals an intensive new knowing of the present foreign fiscal scenario.
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Additional resources for Capital and Language: From the New Economy to the War Economy (Semiotext(e) Foreign Agents)
There have been multiple and wide-ranging changes that go from the streamlining and increased flexibility of productive processes to the externalizing of entire segments of the workforce (subcontracting, outsourcing); 48 ,I Capii:H� and Language from the delocalizing of production around the globe to the gener alized application of communicative technologies (virtualization) ; from the enhanced evaluation of the local territory as a complex social resource (industrial districts) to financial globalization.
Mutual funds has given rise to a "bullish convention" on exchange listed equities, centered on value creation, which demands from enterprises a financial return detached from fundamental perfor mance data. To satisfy the demands of Wall Street, businesses have developed restructuring plans (downsizing) and share reacquisition programs (buybacks) on such a massive scale that in the last few years net issuance of shares has even gone below zero. Combined with the strong demand from institutional funds, these programs provoke an increase in the imbalance between the supply and demand for shares which artificially (or inertially) pushes up the share price.
The ethical dimension, if you will, of the reduction of working hours shows itself in the struggle to improve the quality of life, not in the desire to free up j obs. And the same goes, furthermore, for the history of the labor movement's fight to reduce working hours, from Marx onwards. It is useful to recall, for those who are still prisoners of the "Volkswagon syndrome, " that the reason for that famous agreement between the union and top management had nothing to do with any political concept of citizenship bur, much more prosaically, with flexibilizing the work force in order to adj ust the payroll to the volume of orders; all in order to save $254 on each car produced.
Capital and Language: From the New Economy to the War Economy (Semiotext(e) Foreign Agents) by Christian Marazzi