| Title | : | 99 Theses on the Revaluation of Value: A Postcapitalist Manifesto |
| Author | : | |
| Rating | : | |
| ISBN | : | 1517905877 |
| ISBN-10 | : | 9781517905873 |
| Language | : | English |
| Format Type | : | Paperback |
| Number of Pages | : | 152 |
| Publication | : | First published September 11, 2018 |
How can we begin to envision a postcapitalist economy without first engineering a radically new concept of value? And with a renewed sense of how and what we collectively value, what would the transition to new social forms look like? According to Brian Massumi, it is time to reclaim value from the capitalist market and the neoliberal reduction of life to “human capital.” It is time to occupy surplus-value for a postcapitalist future. 99 Theses on the Revaluation of Value is both a theoretical and practical manifesto. Massumi reexamines ideas about money, exchange, and finance, with special attention to how what we value in experience for quality is economically translated into quantity. He proposes new conceptual tools for understanding value in directly qualitative terms, speculating on how this revaluation of value might practically form the basis of an alter-economy. A promising path, he suggests, might involve emerging blockchain technologies beyond bitcoin. But these must be uprooted from their libertarian origins and redesigned to serve not individual choice but collective creativity, not calculations of self-interest but collaborative speculations on the future to be shared. It is necessary to grasp the specificity of our contemporary neoliberal condition and the ultimately destructive forms of power it mobilizes to better resist their claim on the future. 99 Theses on the Revaluation of Value is written to galvanize a radical redefinition of value for a livable postcapitalist future.
99 Theses on the Revaluation of Value: A Postcapitalist Manifesto Reviews
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I had to read this twice to pick up what was being put down, but it was worth it.
An interesting integration of a (Marxist) critique of capitalism with some Deleuzian flavours. And a leaning towards an affective/qualitative ecology of economy - a 'rewilding' of capitalism.
"This would capitalize on the primacy of the qualitative over the quantitative, taking it back from its systematic captures: unchanneling it from them. This is the very meaning of the revaluation of values" (p.103). -
TLDR; Wonderful exploration of quality as the basis to revaluing the world, but a poor apology of crypto as a mean to get there.
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Probably the first book where I read a real update / continuation of Marx's thought that included the developments of modern economic thought and its many new manifestations. Especially the redefinition /expansion of the concept of surplus-value. Truly brilliant.
The author's effort to re-establish the economy in its rightful place within existence itself (the immanent outside) is commendable although much closer to metaphysics than economics (in particular inspired by Whitehead and Deleuze). The effort gives rise to the introduction of a multitude of concepts aimed at redefining the dynamics of the neoliberal capitalist system, which can be difficult to grasp at time. But the level of abstraction manages to create a fascinating space for reflection that allows us to break out of the cognitive impasse of TINA and to start thinking about what a post-capitalist system could be.
An important part of the book aims to explore what quality is, which is so difficult to grasp and value, in contrast to quantity, which dominates the capitalist system. Massumi seems to believe that only with the establishment of new qualitative bases for determining value will it be possible for a post-capitalist system to emerge. I think it is definitely a fruitful endeavor!
But then, in his few final theses, Massumi offer a poor apology of cryptocurrency, blockchain tokens, smart contract, and (single!) digital platform as essential pursuits to build the postcalitalist world. Unfortunately, he doesn't explain how these very complex technologies are conducive to "commons-centered, collective and collaborative models". On the contrary the only 2 examples he gives are to warn us against them and he concludes that much is "yet to be invented".
Moreover, the fact that he assumes that the values of tokens and blockchain cryptocurrencies will simply be backed by the 'affect' of its user, as money is currently "backed by investor confidence", shows a lack of understanding of modern monetary theory (MMT). Without an agreed collective use for these new monies (in the current system, it is for state tax payment), such currencies will never really accrue value, it will always need to be convertible to cash value. As is the case right now, the temptation to simply create ones own currency and speculativelly hope it is taken up by a majority will always be there. Even with the intermediary "Space" currency proposed, the convertibility is essential.
Although, i am open to experimenting with the reappropriation of money, in general, I still see multiple issues with decentralized crypto as a way to replace money, that the actors in the space haven't give substantial answers to: from the validity of the de-intermediation hypothesis, and the ability of decentralized processes to be sufficiently democratic and fair, to the actual legitimacy of minted tokens without a state money system to cashed them in. None of these issues are addressed in this book, of course. But it does fragilize the final arguments.
Massumi even affirms that "only" anarcho-communism has a chance to move us beyond capitalism, without much arguments.
In the end, although the book talks a lot about collectivity and transindividuality, I was left with a sense that much of the proposed framework is geared toward the individual and individual strategies. There is no acknowledgement of the role of institutions, culture, or values in building a post-capitalist society and how such institutions can help buttress potential new foundations for value.
Moreover, I am disturbed by the fact that Massumi's post-capitalism seems to be, in its essence itself, a digital and technological project inaccessible without crypto, digital platform and other 'affect-o-meter'. That is a profoundly dystopian hypothesis that, still hopeful in our future, I continue to refuse. We must create a post-capitalist world that doesn't need all this tech, then leveraging it will simply allow us to go even further. -
An enjoyable read on the possibility of smart contract and DAO. Timely in today tokenization world, NFT craze. I like the speculative strategies put forward here, especially the critique of anarcho-capitalism in regulating blockchain and the potentiality of surplus-value of care if the technology of decentralised value system run from the commoning and self-organisation worldview. However, it misses the problem of scale and materiality - would be fun to think about this from the perspective of cybernetic communism ala Victor Glushkov.
