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Sovereign Anxieties and Neoliberal Transformations: An Introduction

Sovereign Anxieties and Neoliberal Transformations: An Introduction Sovereign Anxieties and Neoliberal Transformations An Introduction william callison The fi nancial and banking systems are at the center of a politics of destruction/creation in which economics and politics have become inextricable. If we want to understand how powers are reconfi gured by the debt economy, we must fi rst of all establish the links between economics and politics. —Maurizio Lazzarato, The Making of Indebted Man During the 2008 fi nancial collapse, the concomitance of fi nancial capital and state power belied the seemingly autonomous political “decision” on the bailout. Here sovereignty appeared entangled in politico- economic structures, in tight networks of state and non- state actors that emerged alongside the liberalization and fi nan- cialization of the 1970s and that made this very crisis possible. Under these conditions, the sites and operations of sovereignty proved far more elusive and perplexing than traditional theories of sovereignty’s absolute and indivisible character would allow us to understand. On the one hand, the state was “forced” to become “the lender of last resort,” using public funds to support the fallen fi nancial giants while letting others suffer from the initial volatil- ity and the austere landscape that resulted from it. On the http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Qui Parle: Critical Humanities and Social Sciences University of Nebraska Press

Sovereign Anxieties and Neoliberal Transformations: An Introduction

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Publisher
University of Nebraska Press
ISSN
1938-8020

Abstract

Sovereign Anxieties and Neoliberal Transformations An Introduction william callison The fi nancial and banking systems are at the center of a politics of destruction/creation in which economics and politics have become inextricable. If we want to understand how powers are reconfi gured by the debt economy, we must fi rst of all establish the links between economics and politics. —Maurizio Lazzarato, The Making of Indebted Man During the 2008 fi nancial collapse, the concomitance of fi nancial capital and state power belied the seemingly autonomous political “decision” on the bailout. Here sovereignty appeared entangled in politico- economic structures, in tight networks of state and non- state actors that emerged alongside the liberalization and fi nan- cialization of the 1970s and that made this very crisis possible. Under these conditions, the sites and operations of sovereignty proved far more elusive and perplexing than traditional theories of sovereignty’s absolute and indivisible character would allow us to understand. On the one hand, the state was “forced” to become “the lender of last resort,” using public funds to support the fallen fi nancial giants while letting others suffer from the initial volatil- ity and the austere landscape that resulted from it. On the

Journal

Qui Parle: Critical Humanities and Social Sciences – University of Nebraska Press

Published: Oct 9, 2014

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