Saturday, February 2, 2019
4.1 Discourses of Finance - De Goede "Mastering Lady Credit"
In this chapter, de Goede claims that the Financial Revolution that originated in 17th century Europe was not just about new financial instruments but, most importantly, it was about "a rearticulation of moral and political spaces in which these instruments were condoned" (p. 25). In other words, de Goede asks us to trace the shifting histories of the discourses of morality that surround finance. How, according to her research, did these moralities of finance change? How did these changes impact the legitimation of certain financial practices (such as speculative finance)?
Subscribe to:
Post Comments (Atom)
de Goede describes a long history in regards to finance. It was mentioned at first that uncertainties and costs involved in the slave trade and colonial voyages underlies the creation of some financial innovations, such as shares and insurance. de Goede argues however that the development of the financial mind and rationality was implicit. When the innovation of credit money reached western Europe there was a new concept of depersonalized debt. There was so many stocks being purchased in the South Sea Company that had implemented this innovations, that a bubble formed. Surrounding this bubble was sexual metaphors. There was "desirable" and "seductive" wealth that "lady credit" temps men with. These descriptions have many negative connotations and use stereotypical female qualities such as being irrational and hysteric. I believe that this just puts further negativity and irrationality into the view of the female, playing a role into the inequalities that females shared.
ReplyDelete