Category Archives: Politics

Free market bullshit

David Graeber’s on tour, plugging his new book on the remarkably successful and resonant “bullshit jobs” hypothesis. Snipping this from an interview with him at Dissent Magazine:

Brooks: And this also helps to explain why market enthusiasts are wrong in their claims that it’s impossible or unlikely that capitalism will produce bullshit jobs.

Graeber: Yes, exactly. Amusingly enough both libertarians and Marxists tend to attack me on these grounds, and the reason is that both are still basically operating with a conception of capitalism as it existed in maybe the 1860s—lots of little competing firms making and selling stuff. Sure, that’s still true if you’re talking about, say, owner-operated restaurants, and I’d agree that such restaurants tend not to hire people they don’t really need. But if you’re talking about the large firms that dominate the economy nowadays, they operate by an entirely different logic. If profits are extracted through fees, rents, and creating and enforcing debts, if the state is intimately involved in surplus extraction, well, the difference between the economic and political sphere tends to dissolve. Buying political loyalty for your extractive schemes is itself an economic good.

Earlier in the piece Graeber makes that point that, far from being a conspiracy theory, this is precisely the opposite, in that it neatly explains the absence of concerted elite action to rig the econopolitical system: if it ain’t broke (for you), then why expend any effort trying to fix it?

Contest and re-engineer the universal

“For Laboria Cuboniks, the universal is synthetic – it’s a political category. It’s not something that is discovered, or progressively unearthed, but represents a ‘we’ that is collectively built, and which can be rebuilt in more emancipatory forms. Again, this can be understood as an effort to construct vectors of unanticipated and constructed solidarities. I see this as being in direct opposition to the bloated particularity that has conventionally been passed off as the universal and which has largely cornered the market on popular understandings of the generic since the Enlightenment. Xenofeminism doesn’t want to reject universality – though I totally understand the impetus – but instead wants to contest and re-engineer the universal.

Helen Hester interviewed at The Quietus. I kinda missed xenofeminism the first time round, mired as I was in specifically thesis-pertinent theory at the time; looks like it would be well worth my addressing that oversight.

(And can I just say how good it is to see a music-and-culture organ like The Quietus covering theorists as if they were an important part of the culture? Because it is very good.)

Recognise the firm beyond the corporation

Firms are best understood as political entities, rather than merely economic organizations. Of course they have economic dimensions. But saying that they are merely economic organisations would be as reductive as to say that states are merely economic organizations. A firm certainly contains the legal structures of capital investment – this is what the legal structures of the corporate charter are for. But a firm is much more than a corporation in the legal sense: it requires the contributions of those who invest their labour in the joint endeavour (the employees, but sometimes also independent contractors or suppliers or users). That whole institutional reality has been missed by economic and legal theories. My suggestion is that it is time to enter into a reconstructive and institutionalist perspective that makes it possible to recognize the firm beyond the corporation: as a political entity where labour investors, crucial actors in the common endeavour of the firm, have not yet been granted the same political rights (i.e. the rights to participate in governing the joint endeavour) as those granted to capital investors. In other words, it is a political entity owned by no one (shareholders only own their shares, as legal scholar Robé has so aptly kept reminding us) in need of being democratized.

Isabelle Ferreras interviewed at Justice Everywhere.