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Defining speculative value in the age of financialized capitalism

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journal contribution
posted on 04.08.2022, 22:35 authored by Aeron DavisAeron Davis
This article engages with Marx’s and Baudrillard’s accounts of value. In so doing it puts forward a new concept of value: speculative value. If labour, use and exchange forms of value were central to Marx’s account of industrial capitalism, and symbolic and sign value were integral to Baudrillard’s observations of consumer-led capitalism, speculative value is an increasingly important component of financialized capitalism. With reference to financialization’s structural and cultural components, the article explains how speculative exchangers, rather than producers or consumers, now propel finance-led economies and, accordingly, generate speculative value to do so. Through such discussions, the article moves towards defining speculative value more broadly, distinguishing it in relation to earlier value forms.

History

Preferred citation

Davis, A. (2018). Defining speculative value in the age of financialized capitalism. The Sociological Review, 66(1), 3-19. https://doi.org/10.1177/0038026117711637

Journal title

The Sociological Review

Volume

66

Issue

1

Publication date

01/01/2018

Pagination

3-19

Publisher

SAGE Publications

Publication status

Published

Online publication date

01/06/2017

ISSN

0038-0261

eISSN

1467-954X

Language

en

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