Financialization reshapes cultural industries through macroeconomic shifts.

Evidence

This chapter provides this capitalist context through a brief, illustrated history that brings together deep-rooted ideas and tendencies within capitalism that blossomed in the post–World War II political economy of the United States, particularly in the (re)emergence of financialization. It compiles a number of charts to demonstrate the broad outlines of a capitalism in decline. (The new forms of financialization and violence that are maturing in this young century are the focus of the next chapter.) The cultural industries are being reshaped by these larger shifts in the political economy—such as profit rates, investment rates, tax policies, wealth disparities, and financial instruments—and understanding their long-term trajectories is essential. — Andrew deWaard, Derivative Media, 58

The cultural industries are being reshaped by these larger shifts in the political economy—such as profit rates, investment rates, tax policies, wealth disparities, and financial instruments—and understanding their long-term trajectories is essential. — Andrew deWaard, Derivative Media, 58

Categorization

• QUESTION: The reader’s core question: does deWaard demonstrate specific causation from profit rates, tax policies, and financial instruments to particular artistic features, or only broad correlation? Worth tracking through Part Two.
• corroborated: 2 independent passages support this claim — Andrew deWaard, Derivative Media: How Wall Street…, 58
• XREF: connects to: Cultural shift and economic transition align but causal direction stays unclear — David Harvey, The Condition of Postmodernity: An…, 1047; Negative real interest rates drove capital into collectibles and artworks — David Harvey, The Condition of Postmodernity: An…, 1879; Cultural forms are causally rooted in the daily circulation of capital. — David Harvey, The Condition of Postmodernity: An…, 1888 (+8 more)