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> Feher, who, in his previous work, has argued that it's time that progressive movements master the art of finance in order to beat Wall Street at its own game, continues to insist on the political importance of "speculative activism."
> Feher, who, in his previous work, has argued that it's time that progressive movements master the art of finance in order to beat Wall Street at its own game, continues to insist on the political importance of "speculative activism."
I keep meaning to write a blog about this. I think this is but one instance of elite overproduction theory / cliodynamics. There are more lawyers, quants, PhDs, and MBAs than there are cushy jobs to support them. These counter elites will eventually find their own way to war against the established elite. In finance, it will be through things like WSB and cryptocurrencies destroying the old game. In education, it will be through direct-to-consumer training like Coursera, Udemy, and Codecademy providing scaled credentials apart from universities with their bloated bureaucracies. In health, it will be semi-medical interventions like apps, supplements, unlicensed pseudoproviders, internet purchsed drugs, and telehealth disrupting old ways of doing things. In politics and law, there will probably be several internal and external political fights that will remake or break both the Democrats and Republicans as well as possibly one or more third parties. In the US the Millennials are basically the most educated group in history and have shit to show for it in terms of wealth. They are also large in raw numbers. Eventually, they will realize they can burn the mother fucker down. They only question is whether from within (reform or grand compromise) or from without (revolution or destruction). Buckle up because the last 5 years may be just the prelude to a radical shakeup.
I keep meaning to write a blog about this. I think this is but one instance of elite overproduction theory / cliodynamics. There are more lawyers, quants, PhDs, and MBAs than there are cushy jobs to support them. These counter elites will eventually find their own way to war against the established elite. In finance, it will be through things like WSB and cryptocurrencies destroying the old game. In education, it will be through direct-to-consumer training like Coursera, Udemy, and Codecademy providing scaled credentials apart from universities with their bloated bureaucracies. In health, it will be semi-medical interventions like apps, supplements, unlicensed pseudoproviders, internet purchsed drugs, and telehealth disrupting old ways of doing things. In politics and law, there will probably be several internal and external political fights that will remake or break both the Democrats and Republicans as well as possibly one or more third parties. In the US the Millennials are basically the most educated group in history and have shit to show for it in terms of wealth. They are also large in raw numbers. Eventually, they will realize they can burn the mother fucker down. They only question is whether from within (reform or grand compromise) or from without (revolution or destruction). Buckle up because the last 5 years may be just the prelude to a radical shakeup.
"Black Lives Matter, for example, is not only a statement of fact: it is also a speculative proposition aimed at modifying the allocation of credit – from the police and prison complex to economic resources, social services, healthcare and education."
"Black Lives Matter, for example, is not only a statement of fact: it is also a speculative proposition aimed at modifying the allocation of credit – from the police and prison complex to economic resources, social services, healthcare and education."
Some very astute and accurate observations there Dr J imo, and you should definitely write that blog.
Some very astute and accurate observations there Dr J imo, and you should definitely write that blog.
According to the website Investopedia, serious investors, who base their choices on “fundamentals”, should not be confused with reckless speculators, who act on whims and rumors without any regard for the long term. Yet, outside the world of financial analysts, such a distinction is blurry at best. After all, the managers of Melvin Capital certainly fancy themselves as serious investors: if they decide to short the stock of GameStop, it is because they believe that the economic prospects of the company are not good.
According to the website Investopedia, serious investors, who base their choices on “fundamentals”, should not be confused with reckless speculators, who act on whims and rumors without any regard for the long term. Yet, outside the world of financial analysts, such a distinction is blurry at best. After all, the managers of Melvin Capital certainly fancy themselves as serious investors: if they decide to short the stock of GameStop, it is because they believe that the economic prospects of the company are not good.
TY. „To flourish, speculative activism requires the creation of an ecosystem of politically engaged ‚gambling communities,‘ but also of alternative ‚rating agencies.” True, and I’d argue that GamerGate was the precedent for this platform-driven community, gambling …
TY. „To flourish, speculative activism requires the creation of an ecosystem of politically engaged ‚gambling communities,‘ but also of alternative ‚rating agencies.” True, and I’d argue that GamerGate was the precedent for this platform-driven community, gambling …
I really like this, Political praxis is necessarily financialized in it’s form in the current conjuncture. Moishe Postone meets Lukacs. Capital is the set of social (and technological) relations that facilitates the circulation of value. But it’s logic can be subverted (somewhat at least) and used contrary to the power structure.
I really like this, Political praxis is necessarily financialized in it’s form in the current conjuncture. Moishe Postone meets Lukacs. Capital is the set of social (and technological) relations that facilitates the circulation of value. But it’s logic can be subverted (somewhat at least) and used contrary to the power structure.
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