The shift to finance capitalism is nonlinear, not a clean rupture

Evidence

I understand financialization to be the driving force behind this momentous historical shift from a rationality-driven homo economicus to an imagination-fueled homo speculans. The transition I document here, however, is neither a rupture nor a serialized shift. As Giovanni Arrighi’s and Fernand Braudel’s magisterial histories have shown, the development from earlier industrial forms of capitalism to modern finance has been nonlinear. — Aris Komporozos-Athanasiou, Speculative Communities, 26

Categorization

Category: Causal Relationships

• DEFINE: Key framing: financialization drives the shift, but as nonlinear development, complicating any linear narrative of the subject’s birth.

Related

• Financialization drives a nonlinear shift from rational to imaginative economic man (similarity 0.95)
• Finance is where real and fictitious, rational and irrational worlds collapse into one another (similarity 0.83)
• Financialization is a contested terrain of conflicting reproduction cycles, not a top-down imposition (similarity 0.81)
• Finance becomes the model for society’s responses to uncertainty. (similarity 0.81)
• Finance both transforms culture and depends on that cultural transformation (similarity 0.81)
• Financialization both derives profits from finance and drains capital from productive investment (similarity 0.80)
• Finance profits by representing and concealing social complexity simultaneously (similarity 0.80)
• Speculative communities arise from the tension between financial imagination and neoliberal reason (similarity 0.80)
• Financialized capitalism shifts faith from deferred to instant gratification (similarity 0.80)
• Financialization replaced welfare-state collective security with individualized speculative insurance (similarity 0.80)
• Financialization functions as a disciplinary mechanism to exploit labor and displace capitalist contradictions (similarity 0.80)
• Speculative finance dominates by co-opting the generative worker imagination. (similarity 0.79)
• Fighting financialization requires wielding speculation on shifting ground (similarity 0.79)
• Financialization turns Enlightenment rationality against human interests, like nuclear weapons did (similarity 0.79)
• Financialization is capitalism’s most advanced mode of harnessing consumer agency and imagination (similarity 0.79)