Economy's Tension

Economy's Tension

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Why are we obsessed with calculating our selections? The author argues that competitive trade nurtures calculative reason, which provides the ground for most discourses on economy. But market descriptions of economy are incomplete. Drawing on a range of materials from small ethnographic contexts to global financial markets, the author shows that economy is dialectically made up of two value realms, termed mutuality and impersonal trade. One or the other may be dominant; however, market reason usually cascades into and debases the mutuality on which it depends. Using this cross-cultural model, the author explores mystifications of economic life, and explains how capital and derivatives can control an economy. The book offers a different conception of economic welfare, development, and freedom; it presents an approach for dealing with environmental devastation, and explains the growing inequalities of wealth within and between nations.Prudential Insurance stands like a rock (of Gibraltar); Merrill Lynch runs with the bulls; the Ford Mustang runs quickly and the Ford ... effacing billboards, running countercampaigns, mocking the images, revealing what lies hida€” den behind them, and more (Klein 2002). ... the production conditions of the products they buy or for the negative externalities of their usea€”unless outside restraints are imposed.

Title:Economy's Tension
Author:Stephen Gudeman
Publisher:Berghahn Books - 2013-10-15


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