Financialization lets capital extract value from social life without destroying its creative source ecosystems

Evidence

In keeping with questions of value, autonomy, agency and imagination raised in Chapter 4, I also suggested that financialization represents a key means by which capital can expand its discipline and measure into various realms of social life and extract value (ideally) without damaging or corrupting the creative, semiautonomous ecosystems that generate value in the first place. With reference to the relationship of speculative real estate and the gentrification and enclosure of “creative” urban neighbourhoods, I suggested that financialization represents a high level of refinement, decentralization and sophistication in the methods by which capital captures, harnesses, reorients and shapes the creation of value and values in social life, transforming social reproduction in ways that ultimately reinforce and reproduce capital and social liquidation. — Max Haiven, Cultures of Financialization, 572

Categorization

• XREF: Direct precursor to deWaard’s cultural argument: the mechanism here (capital mines creative ecosystems without killing them) is exactly the colonize-culture-through-finance thesis deWaard extends. — connects to: Finance functions to obscure capitalism’s raw dependence on precarious life — Max Haiven, Cultures of Financialization, 46; Financialization captures and encloses human creative capacity through debt — Max Haiven, Cultures of Financialization, 390; Financialization makes belief in value more central than ever — Max Haiven, Cultures of Financialization, 400 (+16 more)
• DEFINE: Gives a precise functional definition of financialization as a value-extraction technique distinct from industrial extraction.

Broader Connections

• Assetization analysis reveals how nature and society get incorporated into financialized capitalism. #expands (0.90) — Paul Langley, Assets and Assetization in…, 43
• Finance produces its own imagined communities rather than merely colonizing existing ones #expands (0.85)
• Finance creatively generates new forms of social and political life #expands (0.85) — Aris Komporozos-Athanasiou, Speculative Communities, 98
• Assetization supersedes commodification and marketization as the key analysis of financialized capitalism. #expands (0.80) — Paul Langley, Assets and Assetization in…, 19