Luc Boltanski & Arnaud Esquerre
ENRICHMENT, PROFIT, CRITIQUE
A Rejoinder to Nancy Fraser
Nancy Fraser raises several questions about what we propose to call an economy of enrichment. They concern, first, our conception of capitalism and, in particular, the relationship between our ‘forms of valorization’ and Marx’s ‘trinity formula’ of profit, interest and rent; second, the links that bind the different economic sectors of the world-capitalist system together—in particular, the enrichment economy and the financial economy, Fraser’s ‘candidate for contemporary capitalism’s dominant sector’; third, the historical birth of the economy of enrichment; fourth, a measure that would determine its importance—which, according to Fraser, we overestimate; and fifth, what follows from our account for the task of critique.
Subscribe for just £45 and get free access to the archive
Please login on the left to read more or buy the article for £3
- Nancy Fraser: A New Form of Capitalism? Does an expanding circuit of commodities whose value is indexed to their rarity and antiquity suggest that capitalism is secreting a novel ‘economy of enrichment’? Replying to Luc Boltanski and Arnaud Esquerre in NLR 98, Nancy Fraser argues that Marx’s Holy Trinity of profit, interest and rent remains key to a taxonomy of contemporary commodification.