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Realizing Capital - Financial and Psychic Economies in Victorian Form (Paperback)
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Realizing Capital - Financial and Psychic Economies in Victorian Form (Paperback)
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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, 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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