Capital and Language: From the New Economy to the War Economy (Semiotext

by Christian Marazzi, Michael Hardt (Contributor)

A major theorist in the Italian postfordist movement offers a radical new understanding of the current international economic situation. The Swiss-Italian economist Christian Marazzi is one of the core theorists of the Italian postfordist movement, along with Antonio Negri, Paolo Virno, and Bifo (Franco Berardi). But although his work is often cited by scholars (particularly by those in the field of “Cognitive Capitalism”), his writing has never appeared in English. This translation of his most recent work, Capital and Language (published in Italian in 2002), finally makes Marazzi's work available to an English-speaking audience. Capital and Language takes as its starting point the fact that the extreme volatility of financial markets is generally attributed to the discrepancy between the “real economy” (that of material goods produced and sold) and the more speculative monetary-financial economy. But this distinction has long ceased to apply in the postfordist New Economy, in which both spheres are structurally affected by language and communication. In Capital and Language Marazzi argues that the changes in financial markets and the transformation of labor into immaterial labor (that is, its reliance on abstract knowledge, general intellect, and social cooperation) are just two sides of the same coin. Capital and Language focuses on the causes behind the international economic and financial depression of 2001, and on the primary instrument that the U.S. government has since been using to face war. Marazzi points to capitalism's fourth stage (after mercantilism, industrialism, and the postfordist culmination of the New Economy): the “War Economy” that is already upon us. Marazzi offers a radical new understanding of the current international economic stage and crucial post-Marxist guidance for confronting capitalism in its newest form. Capital and Language also provides a warning call to a Left still nostalgic for a Fordist construct—a time before factory turned into office (and office into home), and before labor became linguistic.

Genres: Economics, Philosophy, Politics, Language, Theory

168 pages, Paperback

First published January 1, 2002

About the author

Christian Marazzi was born in Lugano, Switzerland, in 1951. He obtained a degree in Political Science at the University of Padova, a master's degree at the London School of Economics and a doctoral degree in Economics at the City University of London. He has taught at the University of Padova, the State University of New York, and at the University of Lausanne. He is currently Director of Socio-Economic Research at the Scuola Universitaria della Svizzera Italiana.

Reviews

[Shannon Kim · Rating 5 out of 5]

Bush doctrine G8 convention conclusion chapter lowkey came out of nowhere but overall… Ok damn woke asf for being written in 2002…… and I finished reading this on 9/11……

[Stevphen Shukaitis · Rating 5 out of 5]

his book is fantastic. It's about time that the greater interest shown in workerist / autonomous Marxist thought and politics has translated into publishing some of Christian Marazzi's work in English. If Toni Negri's work provides one with a giant hammer for smashing through the mystifications of class reality, Marazzi conversely provides a set of finely sharpened blades and scalpels for the dissection of processes of class decomposition. Of particular interest and usefulness is his exploration of fiscal crisis of New York City during the 1970s, and how that proved to be a turning point is the disciplining of the working class as pension funds were invested into stock markets (thus workers came to have an interest in the workings of financial markets that were both benefitting and working against them). It is unfortunate this book was not published several years earlier, as the fact that Marazzi is analyzing an earlier financial crisis (namely the one relating to the new economy bubble) might suggest to one that this book is old hat (it is strange, for instance, to be reading commentaries and analysis involving a number of companies that only recently have ceased to exist), but this is not the case. The dynamics of financialization and class composition that Marazzi are all the more present, even if having changed exaggerated since he wrote this book, within the conjunction of factors leading to the current crisis. Definitely worth a read. Looking forward to more of his work being translated and published.

[Federico García · Rating 3 out of 5]

Aunque escrito en la jerga confusa fel economicismo de raices marxistas, este libro ofrece ideas muy interesantes. En primer lugar, la traslación del proceso de acumulación capitalista al lenguaje y la definición del intelecto colectivo como una construcción de conocimiento que se radica en el cuerpo de cada cual. Pasando a ser éste sede de ese capital intangible que realmente importa hoy.
Así los medios de comunicación y, especialmente las redes digitales, son hoy herramientas para el control y apropiación minoritaria de ese capital especial que produce valor a través del trabajo consciente e inconsciente de cada cual