Liz Moor - Communication and Economic Life

1 Cover

2 Dedication Dedication For Max and Ezra

3 Title Page Communication and Economic Life LIZ MOOR polity

4 Copyright Page Copyright Page Copyright © Liz Moor 2022 The right of Liz Moor to be identified as Author of this Work has been asserted in accordance with the UK Copyright, Designs and Patents Act 1988. First published in 2022 by Polity Press Polity Press 65 Bridge Street Cambridge CB2 1UR, UK Polity Press 101 Station Landing Suite 300 Medford, MA 02155, USA All rights reserved. Except for the quotation of short passages for the purpose of criticism and review, no part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher. ISBN-13: 978-0-7456-8701-8 ISBN-13: 978-0-7456-8702-5(pb) A catalogue record for this book is available from the British Library. Library of Congress Control Number: 2021939063 by Fakenham Prepress Solutions, Fakenham, Norfolk NR21 8NL The publisher has used its best endeavours to ensure that the URLs for external websites referred to in this book are correct and active at the time of going to press. However, the publisher has no responsibility for the websites and can make no guarantee that a site will remain live or that the content is or will remain appropriate. Every effort has been made to trace all copyright holders, but if any have been overlooked the publisher will be pleased to include any necessary credits in any subsequent reprint or edition. For further information on Polity, visit our website: politybooks.com

5 Acknowledgements Acknowledgements Many people have helped me to complete this book. Three reviewers of the original proposal made helpful suggestions, while Nick Couldry, Jo Littler and Don Slater offered early encouragement. Parts of chapter 1 were presented to the Geography department at the University of Nottingham and I greatly appreciated their attentive reading and thoughtful comments. Some ideas were also tested at a MeCCSA panel organized by Rebecca Bramall, who has been kind and supportive throughout. At Polity, Stephanie Homer, Ellen MacDonald-Kramer and Mary Savigar have all been endlessly patient and accommodating, for which I am very grateful. Friends and colleagues who read parts of the text include Clea Bourne, Beckie Coleman, David Moats and Dave O’Brien. I would like to thank them for their frank and constructive feedback. The remaining errors and omissions are my own. Some parts of chapter 2 have previously been published in Consumption, Markets and Culture and in the Journal of Cultural Economy . I am grateful to Jonathan Schroeder for encouraging me to put my thoughts about money symbolism down on paper at a relatively early stage, and to Liz McFall for ongoing enthusiasm and kindness. Liz has been central to many people’s experience of intellectual community in recent years, at a time when it has been especially important. My thinking about price (and much else) has been enriched through conversations with Celia Lury. Lana Swartz provided encouragement and inspiration from across the Atlantic. Colleagues at Goldsmiths supported me with a one-term sabbatical. I am particularly grateful to Clea Bourne, Natalie Fenton, Gholam Khiabany, Rachel Moore, Anamik Saha, Gareth Stanton and Milly Williamson for encouragement, gifts of books and cakes, teaching and administrative cover, and general good vibes. I would also like to thank Jenny Carpenter, Sam Friedman, Meghan Horvath, Shireen Kanji, Kate Maclean, Rebecca Strong and Emma Uprichard. Chris Arning made trips to the British Library more companionable. Max and Ezra are the best possible people to come home to. Special thanks to Sarah Bloomfield for the expert childcare that made finishing the book possible.

6 Introduction The economy and ‘economic life’ Communication, media and economic life Value plurality in economic life Structure of the book Notes

7 Part I: Economic action is communicative

8 1. Does homo economicus talk? Communication in economic theory Economic action is a form of communication Communication is information plus signalling Communication is the strategic use of information: game theory Recent developments: a new role for communication? Conclusion Notes

9 2. The symbolism of money, payment and price Money’s symbolic qualities Psychoanalysis and money symbolism The symbolic function of payments The meaning of price Changing meanings of money, payment and price Conclusion Notes

10 Part II: Communication constructs economic life

11 3. Promotion The rhetoric of the economic system The world of work: promotion and self-promotion Consumption and delinguistified communication Conclusion Notes

12 4. Information New volumes of information New forms of exchange and new economic models Software, algorithms and proprietary data Marketing discrimination Price personalization Conclusion

13 5. Narrative Narratives, stories and why they matter Literary fiction and the repudiation of the market Filmic and televisual narratives about money The fact/fiction continuum in economic writing The economy as a narrated phenomenon The challenge to narrative Conclusion Notes

14 6. Discussion Mediated discussion about economic life Audience discussion shows Online discussion Everyday discussion of economic issues Conclusion Notes

15 Conclusion Reframing communication in economic life What should economic communication be like? Notes

16 References

17 Index

18 End User License Agreement

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