I finished Randy Martin’s Financialization of Daily Life today. I thought I would jot down some of my impressions of the work here. (language like that doesn’t at all reveal I went to a interdisciplinary liberal arts college does it?)
In general Martin’s book didn’t really deliver what I was hoping for. Whilst it did provide an analysis of financialization that drew on Marx and Weber, too much of this analysis relied on a lit review of other works on financialization or poking fun at figures like the motley fools and Warren Buffett. The book was also very much of its time with plenty of discussion of the dot com bubble and speculations on the affect of internet technology. For both of these reasons it reminded a lot of essays from the heyday of The Baffler or Thomas Frank’s One Market Under God in the way it pointed out the crass stupidity of the paens to financialization. There were also some perceptive comments on how risk structures and interacts with subjectivity. I’m also happy to say that the work Jura recommended, Capitalism with Derivatives, seems intent on providing the sort of analysis I was looking for. I suppose I can ultimately try to fuse them and cite both at the end of the thesis.