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Nietzsche, Deleuze and Guattari: performative constitution of unpayable debt in finance capitalism

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  • Christina BANALOPOULOU

    (Independent researcher)

Abstract

Drawing upon the philosophies of Friedrich Nietzsche and Gilles Deleuze and Félix Guattari this essay puts forth the argument that in finance capitalism debt resolution performs as an elusive promise and an appearance that re-constitutes unpayable debt. A close elaboration on Nietzsche’s conceptual cartographies of the relation between the flows of Apollo and Dionysus and on the contextualization of this relation within capitalist frames that, as this essay demonstrates, Deleuze and Guattari explore in both Anti-Oedipus and A Thousand Plateaus contributes to the argument that in finance capitalism unpayable debt is performatively constituted through illusions of debt resolution. To date little work offers a performative approach of Deleuze and Guattari’s conceptualization of the differential relation between the two flows of capital that constitute unpayable debt, including the ties between these flows and Nietzsche’s grasp of the differential relation between Apollo and Dionysus. As a result the performative strategies that constitute, justify, and reproduce unpayable debt in finance capitalism remain relatively unexplored. This essay draws upon the works of Nietzsche and Deleuze and Guattari and adds a performative methodology on the ongoing discussions on debt in order to address the practices that infinitize debt under the gaze of financial capital.

Suggested Citation

  • Christina BANALOPOULOU, 2020. "Nietzsche, Deleuze and Guattari: performative constitution of unpayable debt in finance capitalism," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 13(2), pages 91-115, November.
    • Handle: RePEc:bus:jphile:v:13:y:2020:i:2:n:4
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    References listed on IDEAS

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    1. Stavros A. DRAKOPOULOS, 2016. "Economic crisis, economic methodology and the scientific ideal of physics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 10(1), pages 28-57, November.
    2. Donald Mackenzie & Fabian Muniesa & Lucia Siu, 2007. "Do Economists Make Markets? On the Performativity of Economics," Post-Print halshs-00149145, HAL.
    3. Mariusz Maziarz, 2019. "The unrealistic realist philosophy. The ontology of econometrics revisited," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 13(1), pages 39-64, November.
    4. Barthold, Charles & Dunne, Stephen & Harvie, David, 2018. "Resisting financialisation with Deleuze and Guattari: The case of Occupy Wall Street," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 52(C), pages 4-16.
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    More about this item

    Keywords

    debt performativity; debt politics; Apollo; Dionysus; realism;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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