The asset economy: conceptualizing new logics of inequality

L. Adkins, M. Cooper, M. Konings
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Abstract

ABSTRACT This paper argues that asset ownership is becoming more important than employment as a determinant of class position. The introduction considers this claim with respect to Piketty’s contribution, arguing that the latter is too focused on the growth of wealth at the very top. The first section draws on the work of Hyman Minsky to outline the logic of assets. We differentiate our approach from competing perspectives that tend to overemphasize the orthodox image of the market and in particular the idea that liquidity is an inherent aspect of financialization. Such perspectives neglect that participation in the asset economy often involves (and regularly necessitates) making highly illiquid investments. The subsequent section advances a new analytic of class and inequality, and the last section develops this further in a more philosophical register to consider how the temporal logic of the asset economy is shaping new life-times. The conclusion reflects on the political implications and prospects of the asset economy.
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资产经济:不平等的新逻辑概念化
摘要本文认为,作为阶级地位的决定因素,资产所有权正变得比就业更重要。引言将这种说法与皮凯蒂的贡献相结合,认为后者过于关注最顶层财富的增长。第一部分借鉴了海曼·明斯基(Hyman Minsky)的著作,概述了资产的逻辑。我们将我们的方法与那些倾向于过分强调市场的正统形象,特别是流动性是金融化固有方面的观点相区别。这种观点忽视了参与资产经济往往涉及(并且经常需要)进行高度非流动性的投资。接下来的部分提出了阶级和不平等的新分析,最后一部分在更哲学的范围内进一步发展,以考虑资产经济的时间逻辑如何塑造新的生命周期。结论反映了资产经济的政治含义和前景。
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CiteScore
1.80
自引率
0.00%
发文量
18
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