In Speculation as a Mode of Production: Forms of Value Subjectivity in Art and Capital, Marina Vishmidt offers a new perspective on one of the main categories of capitalist life in the historical present. Writing not under the shadow but in the spirit of Adorno’s negative dialectic, her work pursues speculation through its contested terrains of philosophy, finance, and art, to arrive at the most detailed analysis that we now possess of the role of speculation in the shaping of subjectivity by value relations. Featuring detailed critical discussions of recent tendencies in the artistic representation of labour, and a brilliant reconstruction of the philosophical concept of the speculative from its origins in German Romanticism, Speculation as a Mode of Production is an essential, widescreen theorisation of capital’s drive to self-expansion, and an urgent corrective to the narrow and one-sided periodisations to which it is most commonly subjected.

A wide-ranging investigation of what speculation is, and what is at stake for artistic, curatorial, critical, and institutional practices in relating to their own speculative character. Engaging with the question of speculation in ways that encompass the artistic, the economic, and the philosophical, with excursions into the literary and the scientific, this collection approaches the theme as a powerful logic of contemporary life whose key instantiations are art and finance. Both are premised on the power of contingency, temporality, and experimentation in the creation (and capitalization) of possible worlds. Artistic autonomy, and the self-legislation of the space of art, have often been seen as the freedom to speculate wildly on material and social possibilities. In this context, the artist is seen as a speculative subject and a paragon of creativity—the diametrical opposite of the bean-counter obsessed with balance sheets and value added. However, once social reality becomes speculative and opaque in its own right—risky, algorithmic, and overhauled by networked markets—what becomes of the distinction between not just art and finance but art and life? This anthology surveys material and social inventiveness from the ground up, speculating with technologies, gender, constructs of the family, and systems of logistics and coordination. An ecology of speculation is traced—one that is as broken, specific, and enthralling as the world. Artists Surveyed include Bertolt Brecht, Jerzy Ludwiński, Cameron Rowland, Salvage Art Institute, Andy Warhol, Mi You, PiraMMMida, Sam Lewitt Writers Include Lisa Adkins, Ramon Amaro, Brenna Bhandar, Octavia Butler, Cédric Durand, Georg Wilhelm Friedrich Hegel, Sophie Lewis, Dougal Dixon, Stanisław Lem, Isabelle Stengers and Phillip Pignarre, Steven Shaviro, Can Xue, Daniel Spaulding

Can social theories forge new paths into an uncertain future? The future has become increasingly difficult to imagine. We might be able to predict a few events, but imagining how looming disasters will coincide is simultaneously necessary and impossible. Drawing on speculative fiction and social theory, Theory for the World to Come is the beginning of a conversation about theories that move beyond nihilistic conceptions of the capitalism-caused Anthropocene and toward generative bodies of thought that provoke creative ways of thinking about the world ahead. Matthew J. Wolf-Meyer draws on such authors as Kim Stanley Robinson and Octavia Butler, and engages with afrofuturism, indigenous speculative fiction, and films from the 1970s and ’80s to help think differently about the future and its possibilities. Forerunners: Ideas First Short books of thought-in-process scholarship, where intense analysis, questioning, and speculation take the lead

A unique insight into the interaction between the state, financiers and entrepreneurs in the modern innovation economy.

The Das Kapital of the 20th century,Society of the Spectacle is an essential text, and the main theoretical work of the Situationists. Few works of political and cultural theory have been as enduringly provocative. From its publication amid the social upheavals of the 1960's, in particular the May 1968 uprisings in France, up to the present day, with global capitalism seemingly staggering around in it’s Zombie end-phase, the volatile theses of this book have decisively transformed debates on the shape of modernity, capitalism, and everyday life in the late 20th century. This ‘Red and Black’ translation from 1977 is Introduced by Notting Hill armchair insurrectionary Tom Vague with a galloping time line and pop-situ verve, and given a more analytical over view by young upstart thinker Sam Cooper.

In a capitalist system, consumers, investors, and corporations orient their activities toward a future that contains opportunities and risks. How actors assess uncertainty is a problem that economists have tried to solve through general equilibrium and rational expectations theory. Powerful as these analytical tools are, they underestimate the future’s unknowability by assuming that markets, in the aggregate, correctly forecast what is to come. Jens Beckert adds a new chapter to the theory of capitalism by demonstrating how fictional expectations drive modern economies—or throw them into crisis when the imagined futures fail to materialize. Collectively held images of how the future will unfold are critical because they free economic actors from paralyzing doubt, enabling them to commit resources and coordinate decisions even if those expectations prove inaccurate. Beckert distinguishes fictional expectations from performativity theory, which holds that predictions tend to become self-fulfilling prophecies. Economic forecasts are important not because they produce the futures they envision but because they create the expectations that generate economic activity in the first place. Actors pursue money, investments, innovations, and consumption only if they believe the objects obtained through market exchanges will retain value. We accept money because we believe in its future purchasing power. We accept the risk of capital investments and innovation because we expect profit. And we purchase consumer goods based on dreams of satisfaction. As Imagined Futures shows, those who ignore the role of real uncertainty and fictional expectations in market dynamics misunderstand the nature of capitalism.

In this groundbreaking critique of both traditional and Marxist notions of feudalism and of the pre-capitalist state, John Haldon considers the configuration of state and social relations in medieval Europe and Mughal India as well as in Byzantium and the Ottoman Empire. He argues that a Marxist reading of the pre-capitalist state can take account of the autonomy of power relations and avoid economic reductionism while still focusing on the forms of tribute which sustained the ruling power. Haldon explores the conflicts to which these gave rise and shows the Ottoman state elite, often held to be a clear example of independence from underlying social relations, to be deeply enmeshed in economic relationships and the extraction of tribute. Haldon argues that feudalism was the specifically European form of a much more widely diffused tributary mode, whose characteristic social relations and structural constraints can be seen at work in the Byzantine, Ottoman and Mughal empires as well. While acknowledging the range of ideological and cultural variation within and between these examples of the tributary mode, Haldon denies the thesis that such “superstructural” variations themselves yielded fundamentally contrasting social relations.

Speculation is often associated with financial practices, but The Time of Money makes the case that it not be restricted to the financial sphere. It argues that the expansion of finance has created a distinctive social world, one that demands a speculative stance toward life in general. Replacing a logic of extraction, speculation changes our relationship to time and organizes our social worlds to maximize the productive capacities of populations around flows of money for finance capital. Speculative practices have become a matter of survival, and defining features of our age are hardwired to their operations—stagnant wages, indebtedness, the centrality of women's earnings to the household, workfarism, and more. Examining five features of our contemporary economy, Lisa Adkins reveals the operations of this speculative rationality. Moving beyond claims that indebtedness is intrinsic to contemporary life and vague declarations that the social world has become financialized, Adkins delivers a precise examination of the relation between finance and society, one that is rich in empirical and analytical detail.

This book provides an original account of financialisation and outlines the creation of fictitious profits as a basis to describe the present phase of capitalist accumulation in the neoliberal era. Making innovative theoretical elaborations on Marx’s notion of fictitious capital, Financial Speculation and Fictitious Profits offers a dialectic analysis of the increasing financialization during this crisis-ridden period based on the original concepts of fictitious profit and fictitious wealth. Combining the most important research from over twenty years of scholarly inquiry with groundbreaking new studies, Financial Speculation and Fictitious Profits is more than a collection of texts by political economists on a contemporary topic; it is a synthesis of an intense process of academic production that began with work of Karl Marx and has resulted in the formulation of a differentiated interpretative perspective on the contemporary evolution of capitalist crisis.

In the modern world, why do we still resort to speculation? Advances in scientific and statistical reasoning are supposed to have provided greater certainty in making claims about the future. Yet we constantly spin out scenarios about tomorrow, for ourselves or for entire societies, with flimsy or no evidence. Insubstantial speculations—from utopian thinking to high-risk stock gambles—often provoke fierce backlash, even when they prove prophetic for the world we come to inhabit. Why does this hypothetical way of thinking generate such controversy? In this cultural, literary, and intellectual history, Gayle Rogers traces debates over speculation from antiquity to the present. Celebrated by Boethius as the height of humanity’s mental powers but denigrated as sinful by John Calvin, speculation eventually became central to the scientific revolution’s new methods of seeing the natural world. In the nineteenth century, writers such as Jane Austen used the concept to diagnose the marriage market, redefining speculation for the purpose of social critique. Speculation fueled the development of modern capitalism, spurring booms, busts, and bubbles, and recently artificial intelligence has automated the speculation previously done by humans, with uncertain and troubling consequences. Unraveling these histories and many other disputes, Rogers argues that what has always been at stake in arguments over speculation, and why it so often appears so threatening, is the authority to produce and control knowledge about the future. Recasting centuries of contests over the power to anticipate tomorrow, this book reveals the crucial role speculation has played in how we create—and potentially destroy—the future.