Global Finance, Money and Power - Lecture 11: Alternatives
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Transcript of Global Finance, Money and Power - Lecture 11: Alternatives
“Capitalism only triumphs when it becomes
identified with the state, when it is the state.
In its first great phase, that of the Italian city-states
of Venice, Genoa and Florence, power lay in the
hands of the moneyed elite. In seventeenth-century
Holland the aristocracy of the Regents governed for
the benefit and even according to the directives of
the businessmen, merchants, and money-lenders.
Likewise, in England the Glorious Revolution of
1688 marked the accession of business similar to
that in Holland.” (Braudel 1977)
The fusion of state and capital was the vital
ingredient in the emergence of a distinctly capitalist
layer on top of, and in antithesis to, the layer of
market economy.
the distinction of sectors between what I have called the ‘economy’ (or the market economy) and ‘capitalism’ does not seem to me to be anything new, but rather a constant in Europe since the Middle Ages.
There is another difference too: I would argue that a third sector should be added to the pre-industrial model – that the lowest stratum of the non-economy, the soil into which capitalism thrusts its roots but which it can never really penetrate.
This lowest layer remains an enormous one.
(Fernand Braudel, Civilization and Capitalism 15th-18th Century vol.II: The Wheels of Commerce, London: Collins, 1982, pp.229-30.).
Above it, comes the favoured terrain of the market economy, with its many horizontal communications between the different markets:
here a degree of automatic coordination usually links supply, demand and prices.
(Fernand Braudel, Civilization and Capitalism 15th-18th Century vol.II: The Wheels of Commerce, London: Collins, 1982, pp.229-30.).
Then alongside, or rather above this layer, comes the zone of the anti-market, where the great predators roam and the law of the jungle operates. This – today as in the past, before and after the industrial revolution – is the real home of capitalism.”
(Fernand Braudel, Civilization and Capitalism 15th-18th Century vol.II: The Wheels of Commerce, London: Collins, 1982, pp.229-30.).
Going beyond Braudel’s original argument, household production can be
considered as a case in point for such daily, unconscious routines. This
then signals one trajectory for understanding aspects of social
reproduction over time.
Indeed the politics of the everyday offers a current consideration of the
separation of life purposes (such as working life, family life and sex life)
and the social construction of such spaces.
It should be noted that, despite Braudel’s many valuable conceptual
inroads, he does not apply gender to his analysis and does not explicitly
consider the sexual division of labour in his trilogy.
However… his conceptualisations of material life can aid us in
understanding the historical dynamics that underpin social reproduction.
Isabella Bakker (2007) ‘Social Reproduction and the Constitution of a Gendered
Political Economy’, New Political Economy 12:4.
Going beyond Braudel’s original argument, household production can be
considered as a case in point for such daily, unconscious routines. This
then signals one trajectory for understanding aspects of social
reproduction over time.
Indeed the politics of the everyday offers a current consideration of the
separation of life purposes (such as working life, family life and sex life)
and the social construction of such spaces.
It should be noted that, despite Braudel’s many valuable conceptual
inroads, he does not apply gender to his analysis and does not explicitly
consider the sexual division of labour in his trilogy.
However… his conceptualisations of material life can aid us in
understanding the historical dynamics that underpin social reproduction.
Isabella Bakker (2007) ‘Social Reproduction and the Constitution of a Gendered
Political Economy’, New Political Economy 12:4.
Social Reproduction
Renewing life is a form of work, a kind of production, as fundamental to the perpetuation of society as the production of things.
Moreover, the social organization of that work, the set of social relationships through which people act to get it done, has varied widely and that variation has been central to the organization of gender relations and gender inequality.
From this point of view, societal reproduction includes not only the organization of production but the organization of social reproduction, and the perpetuation of gender as well as class relations.
Barbara Laslett and Johanna Brenner, ’ Gender and Social Reproduction: Historical Perspectives,’ Annual Review of Sociology, Vol. 15 (1989): 383
Conventional androcentric assumptions have not been critically
examined in scientific and technological (S&T) culture; in the
international, national and local mediating agencies that deliver
S&T development; or in the communities that are the recipients
of development.
However, because women are primary deliverers of community
welfare on a daily basis to children, the sick and elderly, their
households, and the larger social networks that maintain
communities, the failure of development projects with respect to
women is automatically felt by social groups who depend on their
labour and social services.
Sandra Harding (1995) ‘Just add women and stir?’ Missing Links: Gender Equity in Science and Technology for Development.
Over the past thirty years, despite
being essential to human life,
neoliberal restructuring across the
world has privatised, eroded and
demolished our shared resources,
and ushered in a ‘crisis of social
reproduction.’
‘Cuts are a Feminist Issue’,
Soundings (Dec 2011), p.73.
As a concept social reproduction
has been key to feminist social
theory, because it challenges the
usual distinctions that are made
between productive and
reproductive labour, or between
the labour market and the home.Feminist Fightback, Cuts are a Feminist Issue
Feminist Fightback, Cuts are a Feminist Issue
Labour in this sphere is often
devalued and privatised, and is
typically performed by women in
their ‘double day’ or ‘second
shift’, alongside paid wage
labour.
But reproductive labour of this
kind is just as central to capitalist
accumulation as are other forms
of labour, which means that
struggles over its structure and
distribution are fundamental to
any understanding of issues of
power and the relationships
between labour and capital, as
well as the potential for their
transformation.