Cultural forms are a reduced, simplified model for reading the economic real

Evidence

Financialization, then, refers not only to an economic process, but to a cultural one as well. Or, more properly, it emblematizes what Fredric Jameson (1998, 60) has called the “becoming cultural of the economic and the becoming economic of the cultural.” As such, in Chapter 4 I turned to a fraught term wedged unhappily between these two nebulous fields: value. The term’s potential and peril lies in its capacity to articulate both the idea of social values (those codes, ideas, hierarchies, beliefs and senses of worth that ground subjects and societies) and the notion of economic price. — Max Haiven, Cultures of Financialization, 561 (#complicates, via linked claim)

But, further (and this is crucial), financialization also means a moment when the financial system, and the capitalist economy of which it is a part, is dependent on and invested in the ideologies, practices and fictions of daily life as never before. In a moment characterized by ubiquitous debt, escalating consumerism and political quietism (or, worse, reactionism), and by a highly volatile financialized economy, the realms of culture and ideology can no longer be said to be merely the superstructure of a “real” economic base. — Max Haiven, Cultures of Financialization, 61 (#complicates, via linked claim)

Categorization

• XREF: connects to: Reduction to economics enables creating a new culture; Culture now shapes the financial economy as much as the economy shapes culture — Max Haiven, Cultures of Financialization, 61; Financialization colonizes culture by fusing economic price with social value — Max Haiven, Cultures of Financialization, 561

Broader Connections

• Reduction to economics enables creating a new culture #expands (0.80)
• Financialization colonizes culture by fusing economic price with social value #complicates (0.80) — Max Haiven, Cultures of Financialization, 561
• Culture now shapes the financial economy as much as the economy shapes culture #complicates (0.75) — Max Haiven, Cultures of Financialization, 61