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The proliferation of social media has provided ideal conditions in which feelings of anger and frustration can be expressed and shared, forming a deep pool of ressentiment that is being drawn upon and exploited by populist and authoritarian leaders.In his new book, Joseph Vogl shows how this dynamic is rooted in the fusing of finance capital and information in a new form of information capitalism that is reshaping the affective economy of our societies. The capital accumulation strategies of powerful new platforms and social media are pushing people into fragmented, opposing, and conflictual communities where ressentiment is nurtured and grows. The feelings of grievance and rejection generated by capitalism are redirected into attacks on migrants, foreigners, and others, thereby deflecting their critical potential, and bolstering the system that is their source. It is the cunning of ressentiment that provides the key to understanding why, despite the profusion of communication in our social media age, global finance and information capital can be neither understood nor attacked as a totalizing power.This brilliant analysis of the ways in which information capitalism is transforming the affective economy of our societies will be of great interest to anyone concerned with the forces that are shaping our societies today.
Argues for a third way, a mode of thought that doesn't insist on these divisive either/ors. Neither an active refusal to engage with the world nor a consistent strategy of resistance, tarrying, as defined by Vogl, defers, multiplies, and suspends the strictures of decision-making.
The Specter of Capital provides a searching historical analysis and critique of the role of classical and neoclassical economic theory in creating the economic conditions which produced the global financial crisis.
The global financial crisis of 2008 ushered in a system of informal decision-making in the grey zone between economics and politics. Legitimized by a rhetoric of emergency, ad hoc bodies have usurped democratically elected governments.
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