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Andrew deWaard, "Derivative Media: How Wall Street Devours Culture" (U California Press, 2024)

New Books in Economics

CHAPTER

The Financialization of Culture

This chapter explores the pervasive influence of financialization across modern cultural industries, detailing how hedge funds and private equity reshape company dynamics and cultural production. It critically examines the impact of financial strategies on creativity, job security, and monopolistic practices within sectors like media and entertainment. The discussion links historical shifts in the economy to the emergent practices of derivative media, emphasizing the speculative nature of contemporary finance and its implications for the future of culture and democracy.

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