From a Restricted to a General Theory of the Pricing Surface


Existing attempts to theorise the market are, in one way or another, instrumental in character, insofar as they treat the market as one class of social processes. The discourses of contemporary economics and the sociology of finance, opposed in many respects, nonetheless both subordinate the category of the market to that of the social. Marx, and in his wake those strains of Marxism that consider the market directly, rely upon a similar position, invoking the category of fictitious capital on the one hand (the derivative and vampiric nature of financial market) and the absolute position of the labour theory of value on the other…