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Realizing Capital - Financial and Psychic Economies in Victorian Form (Hardcover)
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Realizing Capital - Financial and Psychic Economies in Victorian Form (Hardcover)
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During a tumultuous period when financial speculation began rapidly
to outpace industrial production and consumption, Victorian
financial journalists commonly explained the instability of finance
by criticizing its inherent artifice drawing persistent attention
to what they called "fictitious capital." In a shift that
naturalized this artifice, this critique of fictitious capital
virtually disappeared by the 1860s, being replaced by notions of
fickle investor psychology and mental equilibrium encapsulated in
the fascinating metaphor of "psychic economy."
In close rhetorical readings of financial journalism, political
economy, and the works of Dickens, Eliot, and Trollope, Kornbluh
examines the psychological framing of economics, one of the
nineteenth century's most enduring legacies, reminding us that the
current dominant paradigm for understanding financial crisis has a
history of its own. She shows how novels illuminate this
displacement and ironize ideological metaphors linking psychology
and economics, thus demonstrating literature's unique facility for
evaluating ideas in process. Inheritors of this novelistic project,
Marx and Freud each advance a critique of psychic economy that
refuses to naturalize capitalism.
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