The Time of Money (Currencies: New Thinking for Financial Times)

Speculation is often associated with financial practices, but The Time of Money makes the case that it not be restricted to the financial sphere. It argues that the expansion of finance has created a distinctive social world, one that demands a speculative stance toward life in general. Replacing a logic of extraction, speculation changes our relationship to time and organizes our social worlds to maximize the productive capacities of populations around flows of money for finance capital. Speculative practices have become a matter of survival, and defining features of our age are hardwired to their operations—stagnant wages, indebtedness, the centrality of women's earnings to the household, workfarism, and more. Examining five features of our contemporary economy, Lisa Adkins reveals the operations of this speculative rationality. Moving beyond claims that indebtedness is intrinsic to contemporary life and vague declarations that the social world has become financialized, Adkins delivers a precise examination of the relation between finance and society, one that is rich in empirical and analytical detail. "... [This book] argues that the expansion of finance has created a distinctive social world, one that demands a speculative stance toward life in general ... Speculation changes our relationship to time and organizes our social worlds to maximize the productive capacities of populations around flows of money for finance capital. Speculative practices have become a matter of survival, and defining features of our age--stagnant wages, indebtedness, the centrality of women's earnings to the household, workfarism, and more--are hardwired to their operations ..."--Back cover Money On The Move -- Austere Times -- The Speculative Time Of Debt -- Wages And The Problem Of Value -- Out Of Work. Lisa Adkins. Includes Bibliographical References And Index. The Time of Money investigates how the expansion of finance has led to a distinctive social world that demands a speculative stance towards life as a whole.