Definingspeculative valuein the age of financialized capitalism

Bibliographic Data

ID3152148
AuthorsAeron Davis (0000-0003-0915-0294, Goldsmiths University of London, corresponding author)
Year2018
Volume66
Issue1
Pages3-19
Publication date2018-01-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Sociological Review (JOURNAL)
Journal identifiersISSN: 0038-0261 • E-ISSN: 1467-954X
PublisherSAGE Publications Inc (PUBLISHER)
DOI10.1177/0038026117711637
OpenAlexW2620690104
LanguageEN
Citations received22
References cited41

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

Capitalism · Commodity · Economics · Exchange value · Financialization · Market economy · Neoclassical economics · Political science · Politics · Positive economics · Relation (database) · Sign (mathematics) · Sociology · Speculation · Surplus value · Use value · Value (mathematics) · Finance · Housing, Finance, and Neoliberalism · Law · Political Economy and Marxism · Walter Benjamin Studies Compilation

Tools

Open DOISci-HubOpen Access