Does a free-market foster or undermine our creativity? How does the market impact cultural creations? Recall this Book’s recent episode made me think of these questions. In the episode, Mark McGurl, the Albert L. Guérard Professor of Literature at Stanford University (Everything and Less: The Novel in the Age of Amazon) discussed how Amazon’s commitment to customer service influences the book industry and the production of literature. McGurl studies Amazon as a social-historical phenomenon that epitomizes the logic of the service economy. McGurl introduces Amazon’s history of bookselling, Jeffrey Bezos’ affinity with books, the company’s literary culture, and its approach to literature, which turns fiction into a form of customer service. McGurl uses a multi-scalar framework that delineates how phenomena are constituted in different institutional environments at various levels of analysis. This allows him to show how Amazon’s success, along with its influence on publishing and literary history, is embedded in a broader background related to the rise of the service economy in the past several decades. McGurl names such background “the age of Amazon.”
Our Recall This Buck series began by speaking with Christine Desan of Harvard Law School about how key ideas—and the actual currency, physical coins and bills— underlying the modern monetary system get “invisibilized” with that system’s success, so that seeing money clearly is both harder and more vital. Today, illustrious Princeton historian Peter Brown narrates the emergence, in the 3rd and 4th century AD, of striking new ideas about charity and how to include the poor inside a religious community.
This is the first of several RTB episodes about the history of money. We are ranging from the earliest forms of labor IOUs to the modern world of bitcoin and electronically distributed value. Our idea is that forms matter, and matter in ways that those who profit from those forms often strive to keep hidden. Today, we begin by focusing on the rise of capitalism, the Bank of England, and how an explosion of liquidity changed everything.
We are lucky to do so with Christine Desan of Harvard Law School, who recently published Making Money: Coin, Currency, and the Coming of Capitalism (Oxford University Press, 2014). She is also managing editor of JustMoney.org, a website that explores money as a critical site of governance. Desan’s research explores money as a legal and political project. Her approach opens economic orthodoxy to question by widening the focus on money as an instrument, to examine the institutions and agreements through which resources are mobilized and tracked, by means of money. In doing so, she shows that particular forms of money, and the markets within which they circulate, are neither natural or inevitable.