It has been granted a third season by the gods of HBO.
Christian Marazzi writes: “If one really wants to speak of ‘irresponsible companies’ to describe the paradigm of shareholder value—adopted by companies over the last thirty years—one would do well to speak of the transformation of the production process based on the ‘profits becoming rent,’ to use Carlo Vercellone’s apt expression.” Marazzi, The Violence of Financial Capitalism (Semiotext(e), 2011), 32.
Paul Volcker, a Democrat, actually played a role in both shocks: one as an economic advisor to Richard Nixon and the second as Jimmy Carter’s head of the Fed. “There is no alternative” is a slogan used by Margaret Thatcher to suggest the inevitability of capitalism and austerity policies.
St. Clair Drake and Horace R. Cayton, Black Metropolis: A Study of Negro Life in a Northern City (University of Chicago Press, 1945).
Wilson writes: “Few observers of the urban scene in the late 1960s anticipated the extensive breakdown of social institutions and the sharp rise in rates of social dislocation that have since swept the ghettos and spread to other neighborhoods that were once stable. For example, in the neighborhood of Woodlawn, located on the South Side of Chicago, there were over eight hundred commercial and industrial establishments in 1950. Today, it is estimated that only about a hundred are left, many of them represented by tiny catering places, barber shops, and thrift stores with no more than one or two employees.” William Julius Wilson, When Work Disappears: The World of the New Urban Poor (Knopf, 1996), 37.
Lisa Adkins, The Time of Money (Stanford University Press, 2018), 4.
I use this key word from the work of twenty-first century American physicist David Bohm to break with a term in the philosophy of Hegel, “sublation.”
The final episode of Good Times aired on August 1, 1979.
“Human capital” entered the mainstream in 2005 by way of Stephen J. Dubner and Steven Levitt’s book Freakonomics, the objective of which was to make Chicago School neoclassical theories look cool, like giving Milton Friedman a mohawk.
“We call the post–World War II institutional arrangements the Treaty of Detroit, after the most famous labor–management agreement of that period.” Frank Levy and Peter Temin, “Inequality and Institutions in Twentieth-Century America,” in Economic Evolution and Revolution in Historical Time, ed. David Weiman, Paul Webb Rhode, and Joshua L. Rosenbloom (Stanford University Press, 2011), 358.
Intelligent Hoodlum, “Grand Groove,” 1993 →.
In his book The Origins of the Urban Crisis: Race and Inequality in Postwar Detroit (Princeton University Press, 1996), historian Thomas J. Sugrue argues that the deindustrialization of Detroit did not begin in the 1970s, as many believe, but actually at the peak of the city’s economic greatness, the second half of the 1940s. Around this time, the Big Three automakers (General Motors, Ford, and Chrysler) began to relocate factories from the city to the suburbs and other states where labor was cheaper and unions weaker.
This was the subject of Maya Angelou’s 1998 film Down in the Delta.
The YouTube user who posted the demolition of the last Robert Taylor Homes tower warns that the footage might distress those who “used to live (in the) building” →.
Smiley Culture, “Cockney Translation,” 1984 →.
For the Austrian-American economist Joseph Schumpeter, a contemporary of John Maynard Keynes, the creative destruction of old products and production technologies and processes was “the essential fact about capitalism.” Progress, a temporal concept first worshiped by the Victorians, could not happen without the destruction of the old and the introduction of the new.
Adkins, The Time of Money, 8.
Adkins, The Time of Money, 2.
Lisa Adkins is of the mind that even increasing wages, which have been stagnant since the end of the good times, would be inadequate. She writes: “I … necessarily engage with and disrupt (the assumption) that redistributions of resources, especially redistributions of money, can redress exacerbating forms of post-financial-crisis inequality.” Adkins, The Time of Money, 12.
In the cryptocurrency world, there is an Ethereum-based protocol called Beanstalk Farms. It recently lost $182 million to an “attacker” →.
Arendt, The Promise of Politics (Schocken Books, 2005), 34. A few pages earlier she writes: “Plato defines the origin of philosophy … ‘Wonder is what the philosopher endures most; for there is no other beginning of philosophy than wonder” (32).
