By Christian Marazzi
The Swiss-Italian economist Christian Marazzi is among the center theorists of the Italian postfordist flow, in addition to Antonio Negri, Paolo Virno, and Bifo (Franco Berardi). yet even if his paintings is frequently stated by means of students (particularly by way of these within the box of "Cognitive Capitalism"), his writing hasn't ever seemed in English. This translation of his latest paintings, Capital and Language (published in Italian in 2002), eventually makes Marazzi's paintings on hand to an English-speaking viewers. Capital and Language takes as its start line the truth that the intense volatility of monetary markets is mostly attributed to the discrepancy among the "real economic system" (that of fabric items produced and bought) and the extra speculative monetary-financial economic system. yet this contrast has lengthy ceased to use within the postfordist New financial system, within which either spheres are structurally plagued by language and conversation. In Capital and Language Marazzi argues that the adjustments in monetary markets and the transformation of work into immaterial hard work (that is, its reliance on summary wisdom, common mind, and social cooperation) are only aspects of an analogous coin. Capital and Language makes a speciality of the motives at the back of the overseas financial and monetary melancholy of 2001, and at the fundamental tool that the U.S. executive has in view that been utilizing to stand them: battle. Marazzi issues to capitalism's fourth level (after mercantilism, industrialism, and the postfordist end result of the recent Economy): the "War economic system" that's already upon us. Marazzi deals an intensive new realizing of the present overseas financial level and the most important post-Marxist counsel for confronting capitalism in its latest shape. Capital and Language additionally offers a serious warning call to a Left nonetheless nostalgic for a Fordist construct--a time sooner than manufacturing unit became place of work (and place of work into home), and earlier than hard work turned linguistic.
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Extra info for Capital and Language: From the New Economy to the War Economy
We have said that the process which, historically, leads to the fixing of a universally accepted convention is a process in which the multitude of economic actors becomes a community by selecting/electing a supraindividual convention in order to turn it into an interpretive model valid for all the players in the game of the market. By electing "the" convention, the multitude makes itselfinto a community, almost as the election of a sovereign transforms the multitude into a people (we need not recall here that this process of abstraction is also and always concretely violent; on the concept of the multitude in post-Fordism, see Zanini and Fadini, 200 1 ) .
The efficacy of performative language, as Emile Benveniste has said, depends on the legitimacy of the person who utters it; depends, that is, on the power and the legal status of the speaker. There is a big difference if the person who says that the markets are prey to some form of irrational exuberance is Alan Greenspan or the present writer. The plot thickens when even Alan Greespan, although speaking from the heights of his authority, no longer manages to modifY the current state of affairs, for example when, announcing a reduction in interest rates, he fails to convince the community of investors of the real possibility of an economic recovery.
The putting to work of the language of social relations, the activation of productive cooperation beyond the factory gate, is the origin of the economy of increasing returns which responds to declining profit rates by intensifying the exploita tion of the communicative-relational cooperation of the workforce. As stated earlier, "increasing returns" means that it is no longer constant physical (fixed) capital, nor even employment levels that determine the productivity thresholds of living labor.