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Archive for April, 2013

Can the Market Speak?

The market, we are told, has moods and desires, is ‘jittery’ and ‘sends a message’. We are told to listen and anticipate its every move, preempting adverse ‘verdicts of the market’ through shrewd political decision-making. In his short (81-page) essay, ‘Can the Market Speak?’, Campbell Jones investigates the conceptual assumptions that underlie the idea that the market has intentions, consciousness, and the ability to speak to us. Yet, argues reviewer Mark Bergfeld, by solely focussing on the personification of the markets, Jones reveals a contradiction in capital’s attempt to paint the markets as behaving rationally: The supposed rational actors inside of the markets are themselves guided by “the invisible hand of the market”. In other words, underlying the very rationality of the market one finds irrationality and superstition.