Defining Speculative Value in the Age of Financialized Capitalism

Davis, Aeron. 2018. Defining Speculative Value in the Age of Financialized Capitalism. The Sociological Review, 66(1), pp. 3-19. ISSN 0038-0261 [Article]

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Abstract or Description

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.

Item Type:

Article

Identification Number (DOI):

https://doi.org/10.1177/0038026117711637

Keywords:

cultural economy, financialization, speculation, value

Departments, Centres and Research Units:

Media, Communications and Cultural Studies
Media, Communications and Cultural Studies > Goldsmiths Leverhulme Media Research Centre
Politics > Political Economy Research Centre

Dates:

DateEvent
1 June 2017Published Online
26 April 2017Accepted
1 January 2018Published

Item ID:

20539

Date Deposited:

08 Jun 2017 14:03

Last Modified:

11 Nov 2020 06:45

Peer Reviewed:

Yes, this version has been peer-reviewed.

URI:

https://research.gold.ac.uk/id/eprint/20539

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