Today I started reading Randy Martin’s Financialization of Daily Life. Part of the conclusion of my thesis is going to gesture towards the way elements of Lukacs, Adorno and Lefebvre’s social theory are relevant today. I have a rough notion of the supraindividual aspect of this relevance worked out, but I’m still working on subjectivity. Since it has struck me in the past that one of these ways is that financialization seems to bear out Lukacs and Adorno’s diagnosis of the pervasiveness of commodification, I am hoping Martin’s book will be a good basis for working out how subjectivity might relate to these supraindividual aspects. I’m happy to say that this already seems to be the case, at least its implied in Martin’s account of how the market integration of financialization produces capitalist subjectivity, it also implies an interesting way of introducing and naturalizing contingency into subjectivity:
financialization integrates markets that were separate, like banking for business and consumers, or markets for insurance and real estate. It asks people from all walks of life to accept risks into their homes that were hithero the province of professionals. Without significant capital, people are asked to think like capitalists. 12
I should also add that I have not come across any articles on critical theory/critical marxism and financialization. This strikes me as odd. Does anyone have any they would recommend?