Social and political forces drive the speculative imagination’s history and swings.

Evidence

Speculation has been integral to the history of finance capitalism, yet its impact has not been determined by economic developments alone. A confluence of societal and political factors has produced the highs and lows of the speculative imagination. — Aris Komporozos-Athanasiou, Speculative Communities, 260

Categorization

• XREF: Extends the Milgrom institution angle — markets shaped by non-economic social factors. — connects to: Legitimacy of speculation was fought over competing forms of imagination — Aris Komporozos-Athanasiou, Speculative Communities: Living with…, 188; Economic forces decide history but traditions and politics also act — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 274; Distrust of traditional institutions fuels the speculative imagination’s rise — Aris Komporozos-Athanasiou, Speculative Communities: Living with…, 121 (+1 more)

Broader Connections

• Economic forces decide history but traditions and politics also act #responds-to (0.80) — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 274