Credibility and Economic Value in the Visual Arts

The paper states that the quality of visual arts cannot be measured objectively. An artist must be credible to the public in order to generate economic value. How is credibility and thus economic value generated on the market? To judge the quality of arts, it takes experts. They form a worldwide network relationship and apply cultural knowledge, a highly specific type of knowledge which requires lifelong learning. Cultural knowledge is only in part of a factual nature and includes subjective elements. Since the public cannot in general ascertain the quality of an artist's oeuvre directly, experts must themselves be credible to the public in order to lend credibility to a given oeuvre. It is shown that the process by which experts generate public credibility for a given oeuvre is path dependent, i.e., may by chance end up at inferior solutions.     

Monetary organization and national identity: a review and considerations

This article develops a detailed overview of literature on the relationship between monetary organization, understood as currencies and central banks, and issues of national identity and nationalism. It demonstrates how the literature on this subject for the past 20 years has developed into a distinct research field and the article sketches a set of different methodological approaches as well as geographical and thematical variations within the field. In particular, the overview points to a recent shift in focus from a preoccupation with the identity-cultivating qualities of monetary organization to an emphasis on how collective identities legitimize monetary organization. Based on the literature review, the article points to two underdeveloped themes for future research to investigate: (1) further studies on the interrelation between the legitimacy of monetary organization and national identity, (2) an increased focus on central banks and monetary authorities, as well as the historical development in which monetary organization evolved in concert with ideas of the national identity and nationalism.     

Cache society: transactional records,electronic money,and cultural resistance

Money is an ‘instrument of collective memory’ before it is a means of exchange, a unit of account or a store of value. Money's status as a memory technology is particularly significant in light of the role that information and communication technologies now play in economic transactions. Many of the new channels and infrastructures for payments, such as magnetic cards, mobile phones, the wired Internet, social media platforms, and RFID technologies, record detailed transactional data alongside a range of other identifying data. We now have extremely detailed records of the many ways that money circulates, is transferred and is spent. This paper concerns this previously latent transactional data and how it is currently recorded, monetised, and used to inform action. What has been recorded in and about money at different moments in time and how are these categories breaking down? Who has access to and ownership over this collectively produced record and how is it driving new data practices and business models based on the monetisation and application of monetary records? And how might re-engaging with money's mnemonic status help to foreground a politics and ethics of transactional data?     

Humor and heuristics: culture,genre, and economic thought in The Big Short

This article uses the 2015 film, The Big Short, to explore the limits of representing and critiquing Wall Street culture on film. Critics have praised the film, suggesting that it offers an account of the 2007–2008 financial crisis that both critiques Wall Street culture and democratizes financial knowledge. I argue that the film is an early representative example of a public narrative based on behavioral economics. A popular movie informed by this discipline has a good deal of political potential for challenging injustices produced by neoliberal approaches to the financial services industry. However, I also argue that despite this political potential, The Big Short is unable to fundamentally challenge the belief in efficient markets that justify many of Wall Street’s practices. I also argue that the film uses unexamined and problematic understandings of both class and gender in characterizing the film’s protagonists.     

From the moral to the neural: brain scans,decision-making,and the problematization of economic (ir)rationality

Advances in brain imaging techniques have opened new fields of investigation and often challenged conventional assumptions concerning human behaviour. This ‘neuromolecular gaze’ [Rose, N. &; Abi-Rached, J. (2013) Neuro: The New Brain Sciences and the Management of the Mind, Princeton University Press, Princeton, NJ] also heralds new ways of intervening in the regulation of social phenomena, based on the objectification of the cerebral processes that underlie individual conducts. Neuroeconomics applies this brain-centric perspective to the study of economic decision-making. This paper engages with the two dominant approaches in neuroeconomics. The first section concentrates on the work of Paul Glimcher, who considers economic models and their correlative notion of ‘utility maximization’ as providing the neurosciences with a theoretical framework as to how the brain solves decision problems. The second section discusses the findings of behavioural neuroeconomics, which attempts to model departures from the rationality axiom by measuring the cognitive and emotional biases that have their sources in the brain’s complex architecture. Whereas both strands of neuroeconomics rely on a benchmark of economic rationality, this paper argues that they reformulate in allegedly neutral neuroscientific terms a behavioural norm that is basically moral in nature. If rational decision-making conditions economic and indeed evolutionary survival, and yet if most people regularly fail as utility optimizers, then understanding the neural causes of such failures should help people better themselves and behave as good homines ?conomici.     

Milk,Modernity and the Making of the Human

Branding is an economic and cultural process. Branding endows goods and services with value which corporations protect as their intellectual property, enabling brands to support share prices and be traded as assets in takeovers and mergers, at the same time as they serve to differentiate products competitively in the marketplace. Yet this ‘brand value’ depends on cultural perceptions of the meaning and worth of a brand. More than the unique image or positioning of a brand being maintained relative to others of its kind, such perceptions may involve the expressive and emotional attachment of consumers, and this may be very widely shared. This paper argues that, with certain brands, such shared attachment can occur on a national basis, so that they become symbols of national belonging. Whereas consumers attribute a putative foreign national origin to some global brands – for example, Harley-Davidson is unequivocally ‘American’ – they relate to other brands as expressive of their own national origin. This identification often persists even when national brands are taken over by global corporations, since the brand's association with the nation is a major dimension of its value, or the ‘brand equity’ which the new global owner has paid for, and intends to capitalise upon. The paper examines instances in which this has happened in Australia, such as the traditional brand Vegemite, long ago acquired by Kraft, and also cases where the Australian associations of a brand have been exploited in establishing its global identity, notably Foster's Lager.     

Lope de Aguirre,the Tyrant,and the Prince: Convergence and Divergence in Postcolonial Collective Memory

Abstract

In Latin America, collective remembering is shaped by stories of colonizers whose voracious ambitions left an indelible mark on the landscape and its people. This essay examines a set of narratives about a legendary colonizer, Lope de Aguirre, that continue to be invoked in the collective imagination on the island of Margarita, in Venezuela. Drawing on Bormann's Symbolic Convergence Theory and Bakhtin's work on cultural discourse, this analysis shows that on the one hand, the narratives converge to support official records of Aguirre as an archetype of colonial brutality. Yet on the other, alternate versions of the stories reveal a more discordant picture, one that complicates Aguirre's character and reevaluates his influence on the island and in the wider context of Latin America.     

The Complementarity Between the Collective and the Individual

Besides his activities as a theoretical physicist, the Belgian Léon Rosenfeld cultivated and showed a lively concern for history of science since his student years. This paper is a study of his publications, correspondence and other endeavours in history of science, mainly during the early Cold War period, in order to explore his essentially Marxist views on science and society and how they differed from those of other Marxists scholars, most notably John D. Bernal and Boris Hessen.     

The performativity of the yield curve

This article explores the wide-ranging influence of the yield curve – a diagrammatic device for representing the term structure of effective interest rates on market-traded debt instruments – in contemporary monetary, financial and economic life. Drawing on the expanding literature on financial performativity, including within the field of cultural economy, the article submits that by virtue of its centrality to multiple, closely interconnected and often highly recursive sets of relations between economies, financial markets and central banks, the yield curve is performative at a range of different levels; and, parsing various different extant understandings of performativity, the article theorizes the particular nature of such performativity in the yield curve context. Against the grain of the bulk of the literature on financial performativity, however, the article also endeavors to connect the yield curve’s performativity explicitly to questions of privilege (the privileges of representation) and power (the power to perform) and their unequal distribution. That is to say, the article argues that to understand the multidimensional performativity of the yield curve, we need to draw out its political as well as cultural economy.     

Contingent Valuation and Semiparametric Methods: A Case Study of the National Museum of Sculpture in Valladolid, Spain

Research on cultural economics is very interested in the economic valuation of non-market goods, particularly in the field ofcultural heritage where contingent valuation techniques are currently being used with both parametric and non-parametric statistical methods to estimate the willingness to pay for cultural goods. In the literature analysed, the number of studies using semiparametric methods, however, is very limited. Our analysis is intended to help fill this gap by offering a parametric, non-parametric and semiparametric economic valuation of the National Museum of Sculpture (Museo Nacional de Escultura), located in Valladolid,Spain. In addition, we also gain insight on a controversial issue affecting most European museums, particularly those located in Latin countries: the role voluntary donations might play in the funding of public museums.     

On the construction of property rights in aesthetic ideas

The paper attempts to formulate concrete proposals for a change in laws of intellectual property, based on a communication-oriented theoretical analysis of the issue. The particular role of collection societies is investigated. The proposals arrived at suggest a strengthening of non-negotiable, non-hereditary authors' rights, and a refinancing fee collected for copies of works of art with classical status and distributed to members of currently active art circles.     

Power and Performativity in the Creation of the UK Fishing-Rights Market

Judith Butler's work on performativity takes an explicitly Foucauldian approach to politics. The economic performativity literature, in comparison, has been criticised for failing to foreground power. This paper uses a case study of market creation in UK marine fisheries to suggest, after Butler, ways in which a Foucauldian analysis of the exercise of power can inform our understanding of economic performativity.     

Why women succeed,and fail,in the arts

I examine and test hypotheses for the differential performance of men and women in the arts. I consider whether observed outcomes are best accounted for by differing innate and genetic endowments across the sexes, variations in training opportunities, maternal responsibilities, or discrimination in the marketplace. More generally, I also consider how social mechanisms can give rise to observed patterns of unequal achievement.     

原乡与身份认同:改革开放25年(1978-2002)电影中的乡村空间解读

改革开放25年(1978-2002)电影中的乡村一方面具有档案价值,另一方面是小中窥大、面对未来的观察窗口.立足于日常空间理论和电影空间3要素,对中国4部电影中的乡村空间进行了论述.指出原物重在"传和承",电影叙事中的组织制度变化、公共空间和节点转换,对建构新的身份认同颇为关键.     

Hidden in the Middle: Culture,Value and Reward in Bioinformatics

Bioinformatics – the so-called shotgun marriage between biology and computer science – is an interdiscipline. Despite interdisciplinarity being seen as a virtue, for having the capacity to solve complex problems and foster innovation, it has the potential to place projects and people in anomalous categories. For example, valorised ‘outputs’ in academia are often defined and rewarded by discipline. Bioinformatics, as an interdisciplinary bricolage, incorporates experts from various disciplinary cultures with their own distinct ways of working. Perceived problems of interdisciplinarity include difficulties of making explicit knowledge that is practical, theoretical, or cognitive. But successful interdisciplinary research also depends on an understanding of disciplinary cultures and value systems, often only tacitly understood by members of the communities in question. In bioinformatics, the ‘parent’ disciplines have different value systems; for example, what is considered worthwhile research by computer scientists can be thought of as trivial by biologists, and vice versa. This paper concentrates on the problems of reward and recognition described by scientists working in academic bioinformatics in the United Kingdom. We highlight problems that are a consequence of its cross-cultural make-up, recognising that the mismatches in knowledge in this borderland take place not just at the level of the practical, theoretical, or epistemological, but also at the cultural level too. The trend in big, interdisciplinary science is towards multiple authors on a single paper; in bioinformatics this has created hybrid or fractional scientists who find they are being positioned not just in-between established disciplines but also in-between as middle authors or, worse still, left off papers altogether.