Fictitious capital promises security and fulfillment it structurally cannot deliver

Evidence

Such a proposition might begin by asking the question: What is it that fictitious capital ceaselessly promises, but endlessly defers? As we have seen, in Chapters 2, 3 and 4, financialization promises that, if one prudently invests one’s human capital and embraces the right risks in the right ways, one will be rewarded with economic security, the absence of precariousness. … These desires are not in and of themselves unworthy, but financialization cannot fulfil them, at least not for very many of us. — Max Haiven, Cultures of Financialization, 582

Categorization

• XREF: States tersely the promise-deferral structure of fictitious capital, directly relevant to the ADDENDUM on sacrifice-heavy futures and to deWaard on how finance sells futures it never delivers. — connects to: Finance has always generated fictitious capital that exceeds actual value — Max Haiven, Cultures of Financialization, 104; Land-based reciprocity offers an alternative to capital’s promised security. — Max Haiven, Cultures of Financialization, 244; Debt can be read as a failed attempt to reclaim stolen value — Max Haiven, Cultures of Financialization, 52 (+8 more)

Broader Connections

• Finance’s utopian promises contain the seed of their own subversion #corroborates (0.85)
• Financiers profiting solely from commissions embody the phantom-like unreality of imperialist capital #corroborates (0.82)
• Capitalism sustains legitimacy through broken promises, not fulfilled ones #corroborates (0.80) — Aris Komporozos-Athanasiou, Speculative Communities, 118
• Financial assets are largely imaginary, yet imaginary does not mean unreal #expands (0.78) — Max Haiven, Cultures of Financialization, 29
• Worker insecurity functions as a deliberate competitive asset for capital #corroborates (0.75) — Clara E. Mattei, Escape from Capitalism, 232
• Blaming borrowers’ financial ignorance obscures the structural logic of sub-prime lending #corroborates (0.72) — Max Haiven, Cultures of Financialization, 528