Fictitious Capital: Is Finance Appropriating Our Future?
972 Fifth Ave.
212-650–0070 Price: Free
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The 2007–08 credit crisis and the long recession that followed brutally exposed the economic and social costs of financialization. Understanding what lay behind these events, the rise of “fictitious capital” and its opaque logic, is crucial to grasping the social and political conditions under which we live. Yet, for most people, the operations of the financial system remain shrouded in mystery.
Using comparative data covering the last four decades, Cédric Durand will invite us to examine the relationship between trends such as the rise in private and public debt and the proliferation of financial products; norms such as our habitual assumptions about the production of value and financial stability; and the relationship of all this to political power.