"Biocapital" is a major theoretical contribution to science studies
and political economy. Grounding his analysis in a multi-sited
ethnography of genomic research and drug development marketplaces
in the United States and India, Kaushik Sunder Rajan argues that
contemporary biotechnologies such as genomics can only be
understood in relation to the economic markets within which they
emerge. Sunder Rajan conducted fieldwork in biotechnology labs and
in small start-up companies in the United States (mostly in the San
Francisco Bay area) and India (mainly in New Delhi, Hyderabad, and
Bombay) over a five-year period spanning 1999 to 2004. He draws on
his research with scientists, entrepreneurs, venture capitalists,
and policymakers to compare drug development in the two countries,
examining the practices and goals of research, the financing
mechanisms, the relevant government regulations, and the hype and
marketing surrounding promising new technologies. In the process,
he illuminates the global flow of ideas, information, capital, and
people connected to biotech initiatives.
Sunder Rajan's ethnography informs his theoretically
sophisticated inquiry into how the contemporary world is shaped by
the marriage of biotechnology and market forces, by what he calls
technoscientific capitalism. Bringing Marxian theories of value
into conversation with Foucaultian notions of biopolitics, he
traces how the life sciences came to be significant producers of
both economic and epistemic value in the late twentieth century and
early twenty-first.
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