Sunday, January 21, 2018
Week 2: Anthropology and the Study of Capitalism
This week's reading provide a synopsis of the history of capitalism in the North and South (Hart) and the recent discussions about late capitalism (Blim & Lowrey). How is capital defined in the reading by Hart and what does this definition contribute to our broader understanding of capitalism? How do Hart's examples from his own research in West Africa illustrate some key aspects of capitalism as an economic system? How do Blim and Lowrey define "late capitalism"? What are some examples of life in late capitalism?
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Blim and Lowrey's definition of "late capitalism" has been modified from the definitions of Weber, Marx, and institutional ideas. "Late capitalism" has a lot to do with consumption in the world economic system. Slim and Lowrey explain the idea of time and space used to conceptualize capitalism. The time it takes to produce, distribute, and consume all goods have began to determine how much space in the economy there is for capitalistic systems. They also explain 3 types of ecumenic activity that are active under capitalism: self-provisions of everyday life, needs in markets, and political predators hungry for elimination of competition from other industries.
ReplyDeleteSome examples of late capitalism include "pure" capitalism and "organic" capitalism. Pure capitalism is the global normalities existing. Organic capitalism is the local consumption habits. An example of a non pure capital would be Americans consuming coffee that has been distributed from another country. The rate that coffee is being produced and consumed is organically changing and growing. These two anthropological terms of capitalism have been created because of the creation of different capitalist groups and agents. There is an idea said by Blim and Lowrey that because of these new groups and agents in the economy, there is now a certain realism that may produce the change of degenerating normalism. Life in late capitalism is more about understand values of cultures and economic changes. Capitalism should be able to fulfill fundamental needs, as Blim & Lowrey suggest. Each culture has their differences and particularities, why not practice capitalism in a way that practices this fundamental idea.
The definition of late capitalism is not explicitly stated or defined by Blim nad Lowrey, but there seems to have modify and add on to neo-Marxian analysis of capitalism and other authors like Weber and Braudel. They seek to capture elements of new spaces, time, consumption and different variations of the capitalism. Times or era and space has indeed evolved and influenced the different variation of capitalism activities and practices in present times. Also, it is not only limited to these elements, but even the presence of international laws and economic hegemonies by other countries regarding diaspora capitalism. The new phase of consumption is largely affected by the practice of capitalism.
ReplyDeleteBlim and Lowrey gives an example of how a commodity can be exploited for a super profit as it goes through the different middle men in the process (coffee). Although consumption plays a vital role in "late capitalism "it equally has some gaps and deficits in an economic system. Example of a life in late capitalism with regards to consumption will be the changing consumption pattern of local foods by Ghanaians to western foods has brought about new market for American multi-national food chains (KFC) and other food enterprises. As noted by the authors the undelying need is to be able to fulfill everyone's needs. The different terms, concepts by different authors and the anlysis from Blim and Lowrey in definition late capitalism throws more light on the complexity of the concept or phenomena than it was orriginally intended to be understood or proposed or years back.
Blim and Lowrey do not come out and give a strict definition of what Late Capitalism is. Instead they describe through references to other anthers and economic examples. They describe "late capitalism" as being molded by previous influential writers such as: Marx, Weber, and Braudel. "Late capitalism" has a lot to do with the contemporary global capitalist structure that is present today. Time and space that is so prevalent in "late capitalism" has to deal with the production, activity in the market, profit, and even competition though out historically and locally more prevalent economies that exist in the world.
ReplyDeleteExamples of "late capitalism" are "organic" and "pure" capitalism. These are two forms of the economic structure that has developed of in more recent history. "Pure" capitalism is the global economy that has a set of norms that the participants have agreed upon. "Organic" capitalism is when capitalism adapts to local economic habits. A further example of "local" capitalism is guanxi that is found in China and Taiwan; Blim describes this as the exchange of gifts to solidify social ties.