FROM CIRCULATION TO ASYMMETRICAL FLOW

Ryan Gillespie

Journal of Cultural Economy, 2013, vol. 6, issue 2, 200-216

Abstract: This essay argues for the shortcomings of the circulation-perspectives of critical economics in the discursive formation of contemporary finance-led global capitalism on grounds that it implies the same neoclassical efficiency-equilibrium assumption it was meant to counter. A new theoretical apparatus, of asymmetrical flow, predicated on the asymmetries of time-space and information, is offered. The necessity of a new theory is illustrated with reference to the global financial crisis beginning in 2008 and the S.E.C. suit of Goldman Sachs and, using the question ‘where did all the money go?’ as a touchstone of inquiry, concluding that the question is largely unanswerable due to communicative asymmetries arising from the act of speculation.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:taf:jculte:v:6:y:2013:i:2:p:200-216

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DOI: 10.1080/17530350.2012.686887

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