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Knowledge LTD - Toward a Social Logic of the Derivative (Paperback)
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Knowledge LTD - Toward a Social Logic of the Derivative (Paperback)
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Catastrophes ranging from the travesties of financial markets and
the explosion of the Deepwater Horizon oil well to the tsunami that
struck northern Japan and the levees breaking in New Orleans are
examples of the limits of knowledge. Author Randy Martin insists
that the expertise erected to prevent these natural and social
disasters failed in each case. In Knowledge LTD, Martin explores
how both the limits of knowledge and the social constructions of
culture reflect the way we organize social life in the face of
disasters and their aftermath. He examines this crisis of knowledge
as well as the social movements that rose up in its wake. Martin
not only treats derivatives as financial contracts for pricing
risk, but also shows how the derivative works in economic terms,
where the very unity of the economy is undone. Knowledge LTD
ultimately points to a more comprehensive reordering of the once
separate spheres of economy, polity, and culture. Martin provides a
new way of understanding the social significance of the
all-pervasive derivative logic.
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