Financialization colonizes culture by fusing economic price with social value

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

Categorization

• DEFINE: Grounds the financialization-as-culture thesis in Jameson’s ‘becoming cultural of the economic’ and locates ‘value’ as the bridge term between social worth and economic price.
• XREF: Central to the reader’s stated goal: this is the definitional scaffold for deWaard’s cultural argument about financialization. — connects to: Cultural forms are a reduced, simplified model for reading the economic real; Financialisation also colonizes non-economic spheres via valuation techniques. — Ève Chiapello, Financialisation of Valuation, 15; Financialization establishes ideological dominance of individual profit over collective interests — Aris Komporozos-Athanasiou, Speculative Communities: Living with…, 109 (+26 more)
• SEED: Angle: ‘value’ as the hinge word — tracing how economic price has subsumed social worth in everyday financialized life (ratings, credit scores, self-branding).

Broader Connections

• Finance produces its own imagined communities rather than merely colonizing existing ones #contradicts (0.85)
• Financialization lets capital extract value from social life without destroying its creative source ecosystems #complicates (0.82) — Max Haiven, Cultures of Financialization, 572
• Cultural industries shifted from commodity language to financial-instrument language #exemplifies (0.80) — Andrew deWaard, Derivative Media, 96
• Financialization reshapes cultural industries through macroeconomic shifts. #expands (0.78) — Andrew deWaard, Derivative Media, 58
• Financialization is how society gets liquidated into marketable commodities #expands (0.75) — Max Haiven, Cultures of Financialization, 566
• Financialization of cultural industries reduces media diversity and creative stability #expands (0.75) — Andrew deWaard, Derivative Media, 454