RICHARD MARSDEN - The Nature of Capital
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We embrace virtuality, but long for authenticity. We rush into the future, but yearn for the past. The Nature of Capital aims to explain this tension at the heart of the current disturbance of the spatial and temporal coordinates of social life.
It does so by re-reading Marx and Foucault through the lens of critical realism, overturning the received wisdom that their social theories are fundamentally incompatible. The result is an illuminating synthesis between Marxs social relations of production and Foucaults disciplinary power, from which the author constructs a model of the material cause of our capacity to act: capital, societys genetic code.
The book places Foucaults concept of power at the heart of Marxs analytic. The logic of power and the law of value, the widening and ascending spirals of disciplinary technologies and capital accumulation, interweave and adulterate each other. Foucault explains the how of power, Marx explains the why. Together, the book argues, they define the operative logic of production relations at work shaping the condition of postmodernity.
Original in conception and clearly written, this iconoclastic work will be welcomed by students of, and researchers in, social, economic and political theory, critical organization and management studies, and postmodernity.
Richard Marsden writes, edits and tutors at Athabasca University, Canadas Open University, where he is Associate Professor in Industrial Relations.
1 Hayek and After
Hayekian liberalism as a research programme
Jeremy Shearmur
2 Conflicts in Social Science
Edited by Anton van Harskamp
3 Political Thought of Andr Gorz
Adrian Little
4 Corruption, Capitalism and Democracy
John Girling
5 Freedom and Culture in Western Society
Hans Blokland
6 Freedom in Economics
New perspectives in normative analysis
Edited by Jean-Franois Laslier, Marc Fleurbaey, Nicolas Gravel and Alain Trannoy
7 Against Politics
On government, anarchy and order
Anthony de Jasay
8 Max Weber and Michel Foucault
Parallel life works
Arpad Szakolczai
9 The Political Economy of Civil Society and Human Rights
G.B.Madison
10 On Durkheims Elementary Forms of Religious Life
Edited by W.S.F.Pickering, W.Watts Miller and N.J.Allen
11 Classical Individualism
The supreme importance of each human being
Tibor R.Machan
12 The Age of Reasons
Quixotism, sentimentalism and political economy in eighteenth-century Britain
Wendy Motooka
13 Individualism in Modern Thought
From Adam Smith to Hayek
Lorenzo Infantino
14 Property and Power in Social Theory
A study in intellectual rivalry
Dick Pels
15 Wittgenstein and the Idea of a Critical Social Theory
A critique of Giddens, Habermas and Bhaskar
Nigel Pleasants
16 Marxism and Human Nature
Sean Sayers
17 Goffman and Social Organization
Studies in a sociological legacy
Edited by Greg Smith
18 Situating Hayek
Phenomenology in the neo-liberal project
Mark J.Smith
19 The Reading of Theoretical Texts
Peter Ekegren
20 The Nature of Capital
Marx after Foucault
Richard Marsden
First published 1999
by Routledge
11 New Fetter Lane, London EC4P 4EE
Simultaneously published in the USA and Canada
by Routledge
29 West 35th Street, New York, NY 10001
Routledge is an imprint of the Taylor & Francis Group
This edition published in the Taylor & Francis e-Library, 2005.
To purchase your own copy of this or any of Taylor & Francis or Routledge's collection of thousands of eBooks please go to www.eBookstore.tandf.co.uk.
1999 Richard Marsden
All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.
British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging in Publication Data
Marsden, Richard, 1952
The nature of capital: Marx after Foucault/Richard Marsden.
256 pp. 15.623.4 cm. (Routledge studies in social and political thought: 20)
Includes bibliographical references and index.
1. Capital. 2. Marx, Karl, 18181883. 3. Foucault, Michel.
I. Title. II. Series.
HB501.M3352 1999 9917994
335.41dc21 CIP
ISBN 0-203-16523-3 Master e-book ISBN
ISBN 0-203-25963-7 (Adobe e-Reader Format)
ISBN 0-415-19861-5 (Print Edition)
To Barbara
Readers are entitled to know what they are getting. Authors are poor judges of what they have done. But I think this book uses Marx and Foucault to make sense of capital, and uses capital to make sense of the transformation in the experience of time and space which we recognise as postmodernity. I suspect it is also an intellectual autobiography, for I live the life of a postmodern monad, with all its perils and possibilities, and I wrote it to understand that life.
Not even postmodern monads work alone. Here I would like to acknowledge and thank a few of those who helped me think these issues through.
I set off along the academic trail leading to this book largely because of the example of my first teacher of economics, Jack Eaton. Tom Keenoys questioning of my developing theoretical approach, long ago now, hung around and helped keep me grounded. A conversation with my friend and colleague, Tony Simmons, started me thinking about the relationship between Marx and Foucault; and Mike Gismondi set me off in the right direction by putting me on to the work of Derek Sayer.
I pursued the relationship between Marx and Foucault initially via a Ph.D. in industrial relations, awarded by the University of Warwick in 1993. I recognize my good fortune in having two such knowledgeable and astute guides as Richard Hyman and Paul Edwards. I am especially grateful to Richard Hyman for supporting my attempt, such as it is, to go beyond an analysis of work which he did much to establish. Most of the clues came from him. But for Paul Edwards constructive skepticism towards Foucault I would not have dug as deep as I did. The book began to take shape during my sabbatical at the Industrial Relations Research Unit at the University of Warwick, in 19967, where I was warmly received. Gibson Burrell was kind and helpful to me throughout and supported the idea of the book when it mattered. I owe him a lot.
Tony Earnshaw, a rare artisan of words, taught me to write. The care and support of Erna Dominey, another fine editor, was crucial in helping me keep things together during the final months. Many others, including Paul Marginson, Marianne Sorenson, Hugh Willmott, Stewart Clegg, Helen Newell, Albert Mills, Karen Dale, David Cooper and Leslie Oakes, most of whom I hardly saw while working on the book, helped in the intangible way that friends do. The practical service to the labour movement of Jim Selby and Winston Gereluk was a constant stimulant to what I have attempted here theoretically. Terry Morrison was kind enough to comment on an earlier draft of Chapter 6, and Don Whitehead helped long ago by giving me a copy of Tressell.
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