Abstract Market Theory emphasizes the need to approach the market conceptually, separate from social and sociological perspectives.
The analysis of the market in Abstract Market Theory recognizes the role of memory in shaping our understanding of market dynamics and the relation between price and value.
Abstract Market Theory draws on Deluze's cinema books to examine the transformational aspect of cinema and its potential to question the assumptions and norms created by memory and recollection in the market.
The podcast highlights the importance of engaging with John Rauff's work in understanding Deleuze's philosophy and its connection to concepts of empiricism and subjectivity in studying the market.
The podcast emphasizes the interconnected nature of the market and social valuation, challenging conventional thinking about events and prices as solely probabilistic analysis.
Deep dives
The importance of understanding the market as a philosophical concept
Abstract Market Theory emphasizes the philosophical approach to studying the market, highlighting the need to separate it from social and sociological perspectives. The first axiom of methodological immanence asserts the importance of approaching the market conceptually without relying on empirical justifications. By doing so, it aims to challenge the tendency to exclude certain phenomena, such as algorithmic pricing, from market analysis. The goal is to understand the market on its own terms, separate from social norms and practices, and avoid any self-justifying tendencies.
Memory and its role in the market
The analysis of the market in Abstract Market Theory recognizes the role of memory, drawing influence from concepts in Bergson's philosophy and Freud's works. It explores the idea of a habituated temporality, highlighting how memories and social practices shape our perception of the world. The book delves into the notion of memory in the production of social norms and practices, with a focus on social memory and its modification by technological memory. Memory plays a fundamental role in shaping our understanding of market dynamics and the relation between price and value.
The influence of cinema and the interruption of habitual memory
Abstract Market Theory draws on Deluze's cinema books to examine the transformational aspect of cinema and its potential to interrupt habitual memory. By disrupting the structure of memory and recollection, cinema challenges the social apparatus of memory and its connection to capitalist accumulation. The analysis considers the cinema books' exploration of habituated temporality, which emphasizes the filtering of perception through bodily and social processes. The role of memory in the market is understood within this framework, highlighting the need to question the assumptions and norms that memory and recollection can create.
The significance of John Rauff's work and the translation of 'The Genesis of Living Forms'
Abstract Market Theory acknowledges the contributions of John Rauff, who has translated Raymond Raes' 'The Genesis of Living Forms.' The book reflects on Rauff's work in Continental Philosophy and his exploration of thinkers such as Foucault and Deleuze. The translation of 'The Genesis of Living Forms' and Rauff's other publications are recognized for their relevance to understanding Deleuze's philosophy and its connection to concepts of empiricism and subjectivity. This recognition highlights the importance of engaging with Rauff's work in the broader context of studying the market and its philosophical implications.
The Relationship Between Market and Social Valuation
The podcast discusses the relationship between market and social valuation, highlighting how they are interconnected. The market is not separate from social practices, but rather emerges from them. Prices in the market problematize social instances and require a consideration of value. This understanding challenges the conventional thinking about events and prices as solely probabilistic analysis, emphasizing the need for a more humble approach and acknowledging the contingency of events.
The Critique of Probabilistic Analysis and Black Swans
The podcast explores the critique of probabilistic analysis and the concept of black swans, which represent unexpected and disruptive events. It argues that the focus should shift from probability to contingency and suggests that all events should be seen as equally contingent. The aim is to adopt a more humble attitude towards uncertainty and acknowledge the limitations of probabilistic thinking, which does not capture the complexity and unpredictability of real-world events.
The Need for a Critical Edition of Deleuze's Works
The podcast raises the need for a critical edition of Deleuze's works, particularly in terms of translations. It discusses the challenges of obtaining the rights for retranslations and emphasizes the importance of accurate and comprehensive translations. The desire for a critical edition stems from the recognition that existing translations may not fully capture Deleuze's ideas and that a more thorough and rigorous examination of his works is necessary.
The importance of thinking in terms of possibility
One of the main ideas discussed in this podcast episode is the significance of thinking in terms of possibility. The speaker emphasizes that thinking about what is possible is not a mistake, but rather an inherent aspect of our existence. It is argued that the ability to imagine different possible futures is deeply ingrained in our way of experiencing the world. Additionally, the speaker suggests that the organization of our understanding of possibility is influenced by political power and societal factors. Overall, the discussion highlights the role of possibility in shaping our thinking and the broader implications it has in various domains.
The contingent nature of pricing and the role of derivatives
Another key point made in the podcast episode revolves around the contingent nature of pricing and the role of derivatives. It is argued that pricing is not solely based on rational predictions or projections, but rather influenced by various contingencies and volatilities. The speaker highlights that pricing is not separate for different types of assets, but rather exists on a common surface where different prices are interconnected. The discussion also touches upon the significance of derivatives in financial markets, stating that they are not just tools for predicting the future, but rather represent contingent relationships to volatility. In sum, the episode explores the complexities of pricing and the intricate role derivatives play in the financial realm.
Jon Roffe joined Cooper and Taylor to discuss Deleuze and a Post-Kantian examination of markets and pricing. Time, inscription, all prices being derivative, and much more.
Jon Roffe teaches philosophy at the Melbourne School of Continental Philosophy. He is the author of Gilles Deleuze’s Empiricism and Subjectivity (Edinburgh University Press, 2017), Abstract Market Theory (Palgrave, 2015) and Badiou’s Deleuze (Acumen 2012). He is the co-author of Deleuze’s Philosophical Lineage II (Edinburgh University Press, 2019) and Deleuze’s Philosophical Lineage (Edinburgh University Press, 2009), Practising with Deleuze (Edinburgh University Press, 2017) and Lacan Deleuze Badiou (Edinburgh University Press, 2013), and co-editor of a number of volumes on 20th-century French thought.
https://philpeople.org/profiles/jon-roffe
https://mscp.academia.edu/JonRoffe
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