
Enrichment
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The enrichment economy is based less on the production of new objects and more on the enrichment of things and places that already exist. It has grown out of a combination of many different activities and phenomena, all of which involve, in their varying ways, the exploitation of the past. The enrichment economy draws upon the trade in things that are intended above all for the wealthy, thus providing a supplementary source of enrichment for the wealthy people who deal in these things and exacerbating income inequality.
As opportunities to profit from the exploitation of industrial labour began to diminish, capitalism shifted its focus to expand the range of things that could be exploited. This gave rise to a plurality of different forms for making things valuable - valuing objects in terms of their properties is only one such form. The form that plays a central role in the enrichment economy is what the authors call the 'collection form', which values objects based on the gap they fill in a collection. This valuation process relies on the creation of narratives which enrich commodities.
This wide-ranging and highly original work makes a major contribution to our understanding of contemporary societies and of how capitalism is changing today. It will be of great value to students and scholars in sociology, political economy and cultural studies, as well as to anyone interested in the social and economic transformations shaping our world.
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Persons
Arnaud Esquerre is a researcher at Centre National de la Recherche Scientifique (CNRS) and Director of the Institute for Interdisciplinary Research on Social Issues (Paris).
Content
Translator's note
Preface by Charles Sabel
Introduction
PART I. Destruction and Creation of Wealth
Chapter 1. The Age of the Enrichment Economy
The deindustrialization of Western Europe
Old and new sites of prosperity
The omnipresence of enriched objects
The rise of luxury
Heritage creation
The development of tourism
The expansion of cultural activities
The art trade
Arles: from railroad shops to contemporary art exhibits
An economic reorientation toward the wealthy
Chapter 2. Toward Enrichment
The characteristics of an enrichment economy
Dormant resources in the enrichment economy
Changes in French cultural policy
A new perspective in economic analysis
A shift to different scales
From ornamental patrimony to heritage creation
Local mutations in global capitalism
Partisans of things
Part II. Prices and Forms of Valuation
Chapter 3. Commerce in Things
The commodity condition
On the circulation of things
Changing hands
The process of determination
Price and metaprice
Critiquing the price
Value as justification for a price
Price as an element in the construction of reality
Chapter 4. Forms of Valuation
Structure and transformation group of forms of valuation
Analytic and narrative presentations of things
The problem of valuation by means of images
On the reproduction of things
Institutions and forms of valuation
Structuralism and capitalism
Competition from a systematic viewpoint
Capitalism and markets
The role of the capacity to reflect
The structure of the forms of valuation
Part III. Commodity Structures
Chapter 5. The Standard Form
The model for the standard form
The standard form and industrial production
Prototypes and specimens
The proliferation of things without persons
The internal tensions of the standard form
The unease created by the standard form
Chapter 6. Standardization and Differentiation
The historical dimension of the forms of valuation
From trade in things to the circulation of commodities
The effect of standardization on the constitution of forms of valuation
Material economies, immaterial economies
Chapter 7. The Collection Form
The modernity of the collection form
Systematic collection as an arrangement for valuation
Collectors' items
Price and value of collectors' items
The fields of collectibles
The structure of the collection form
Chapter 8. Collection and Enrichment
The usefulness of useless things
Collecting in thrall to marketing
On the use of the collection form by luxury firms
From lumber to luxury goods: the transformation of the Pinault group into Kering
Capturing the wealth of the wealthiest
Values and prices of luxury product brands
Standard products with a "collector effect" and collectors' items
The collection form and contemporary art
The contradiction of the enrichment economy
Chapter 9. The Trend Form
Trend, sign, and distinction
The structure of the trend form
The economic constraints of the trend form
From the trend form to the collection form
Chapter 10. The Asset Form
Characteristics of the asset form
On the liquidity of things as assets
The commercial potential of assets
Part IV. Who Profits from the Past
Chapter 11. Profit in a Commercial Society
Competition and differentiation
Surplus work value and profit
Surplus market value and profit
Displacing commodities or displacing buyers
Profiting from the wealthy in the capitalist cosmos
Chapter 12. The Enrichment Economy in Practice
An enriched village: Laguiole in Aubrac
The transformation of habitats through heritage creation
New "traditional festivals" in the village
Heritage creation around food
A landscape to contemplate
Cutlery valorized by the collection form
The "artisanal" manufacture of a knife in Laguiole
A collectible knife
Museification as a means of commercialization
The problem of the origin of materials
Distinguishing Laguiole's knives from those made elsewhere
"A name, a brand, a village"
How the residents lost the ability to dispose freely of the name of their village
A geographic indication to "highlight the treasures of the territories"
Chapter 13. The Shape of the Enrichment Society
The organization of things and persons
Who can profit from an enrichment economy?
"Losers" and "servants"
The return of "rentiers"
Chapter 14. Creators in the Enrichment Society
The economic condition of culture workers
Self-promotion by creators
The constraint of self-exploitation
The circumstances behind the crystallization of social classes
Troubled critiques
Conclusion. Action and Structures
The enrichment economy and a critique of capitalism
On pragmatic structuralism
Annexe
Bibliography
Notes
Foreword
Charles Sabel
Sociology is at its most instructive and broadly useful when it struggles to make sense of the relation between the large structures that constrain our behavior by defining markets and institutions and the way our practical, everyday understandings of justice and fairness can both reproduce and challenge, even transform, those constraints. Sociology is at its most daring and self-sacrificing when, going further, it attempts to understand this relation with both the structures and the practical criteria of judgment in motion - when, in other words, it attempts to combine the macro- and micro-sociology of the present to bring together two terms whose poverty, especially in combination, already hints at the inevitability of partial failure. No one has pursued this audacious and invaluable program more masterfully than Luc Boltanski. Beginning with Les Cadres (1982), and passing through On Justification (2006), with Laurent Thévenot, On Critique (2011) and The New Spirit of Capitalism (2018), with Eve Chiapello, to Enrichment (2020), with Arnaud Esquerre, translated here, he and his co-authors have produced an extraordinary, analytically innovative chronicle of the relentless changes in contemporary capitalism. Reading the present work together with its immediate predecessor may serve to convey the promise yet also some potential limits of this approach as the continuing transformation of capitalism verges on crisis.
The New Spirit of Capitalism looked ahead to the dissolution of the bureaucratic rigidity of Fordist mass production, then well underway. The firm has been replaced as the unit of organization by the project group: a team assembled, ad hoc, under the guidance and inspiration of a managerleader to respond to the needs of a customer. As markets shift, teams are recombined; careers are made by acquiring in each team enough expertise and experience to be recruited to the next. Together the shifting collaborations of teams and the circulation of workers yields a networked economy with open boundaries. Those who don't qualify for entrance or promotion have no function or place in this reticular capitalism. They are excluded.
But these emergent structures are deeply ambivalent judged from the vantage point of the "projective city," as Boltanski and Chiapello (adapting the general term developed in Boltanski's earlier collaboration with Thévenot) call the model of justice particular to the "neo-management" of flexibility. The variant, like all such models, links criteria for judging the fairness of individual transactions that we reflexively invoke in deciding to make an exchange and judgments about compatibility of the actions of the powerful with the foundations of our social and political order. The capitalism of projects disarms the first kind of critique, not least because it responds to familiar objections to wage labor. Thus the spontaneous creativity of the project team and the prospect of a career of ceaseless exploration offer possibilities for self-actualization excluded by the routines of Fordist hierarchies - possibilities previously best embodied in the artist's flamboyant, disdainful rejection of capitalist regimentation. Questions about the fairness of hourly compensation are moot because project team members manage their own time. If they are exploited it is through self-exploitation. For such reasons, Boltanski and Chiapello argue, parts of the labor movement and the socialist government of François Mitterrand championed the new developments instead of rallying against the precariousness they create. In celebrating talent, energy, and daring as the conditions of success, networked capitalism damps criticism most insidiously in insinuating that the excluded, by their want of endowments and initiative, if not by their vices, have all but marginalized themselves.
But the powerful in the projective city are not only obligated to respect fair terms of trade. They must also use the influence and authority derived from trading to sustain the public goods or commons on which the whole political and social community depends; to use their power selfishly, only to augment it, is a breach of the social contract that constitutes a moral order. From this perspective, the neglect of the excluded is not a regrettable oversight or a resigned acknowledgment of the incorrigible inequities of life but a breach of fundamental obligations. It is here that the critique of structure finds a handhold, but no more and just barely. Boltanski and Chiapello are rightly circumspect about the form and strategy of opposition. They remind us that the work of criticism, like the labor of Sisyphus, no sooner done, must be done again.
The picture, cheerless enough, changes abruptly and for the grimmer in Enrichment. The rise of new competitors, beginning with China, has blocked the renewal of industrial capitalism in its historic heartlands. Some countries, above all France, with its primitive accumulation of cultural objects from the time of the Revolution and its continuing association with good taste, respond by abandoning Fordist manufacturing. Instead they turn to production of luxury and artisanal goods, enriched (in one sense of the book's polysemous title) by narratives establishing their authenticity through connection to a past, or by pointing to some other exceptional feature that distinguishes them from standard specimens of their type. Again progressive reforms help undermine the solidarities they were intended to reinforce. In the period of the projective city, a set of laws designed to buttress traditional collective bargaining (the Lois Auroux), helped legitimate precarious employment by recognizing the (initially) exceptional cases in which it would be allowed. In the same way, the "cultural democracy" of Jack Lang, minister of culture under Mitterrand, was supposed to favor celebration of creativity outside the museums and opera houses. Now, combined, with more expressly self-interested legal changes, such as new protections in intellectual property law for forms of production variously associated with particular places, they help make the nation's own history for France today what coal once was for Great Britain: fuel for capitalism.
The analytic focus of the book shifts accordingly. In the projective city, value was created in production. The morally inflected language of exchange was therefore shared among different categories of producers - social classes broadly conceived - and embedded in a model of justice including them in a single community. In the capitalism of enrichment, value is created through narratives that link only buyers and sellers. The rich tourists who come to France to consume its cultural and culinary patrimony in situ and the foreign elites who buy LVMH products at home (all enriched, in another of the title's meanings, by the inequalities of financialization and globalization) share a language of evaluation with the maker of artisanal knives or the owner of a gallery offering collectable art. They can scarcely be said to constitute a community even among themselves, and still less with others in their respective home countries, from whom they are more and more distanced by their enrichment. The concept of the city has no place here; and, in its absence, critique loses even the tenuous handhold it had before. It is evoked only fleetingly. The state, having been complicit in the emergence of new forms of production, might be held to account for their consequences; the history of France belongs to all the French. Yet the authors suggest that they themselves find this insufficient. The book closes with a carefully qualified reflection on the potential for great disruptions - "when reality is confronted with major changes that put experience in direct contact with the world" - to call into question the master narratives that link our judgments of exchange and structure.
What has happened?
The first and most conspicuous explanation is simply that the facts have changed, foreclosing even the scant possibilities for critique and protest that remained until now. If Boltanski and Esquerre are silent on these subjects it is because there is nothing to say. This would bring their work into proximity with Wolfgang Streeck's recent writing on the defeat of the left by a renascent capitalism that, having freed itself of the constraints of the postwar pact with social democracy, is running the table.
But there is despair and despair. However much Streeck may be personally outraged by this outcome, it costs him nothing theoretically to acknowledge it. In his kind of social science the relation among productive groups or social class was always a strategic game, usually resulting in one equilibrium or another. If there is an unexpected, decisive victory, the scientist-observer declares the game over. Sooner or later the players come to the same realization and retire with their payoffs.
Boltanski and his co-authors are not traveling so light. Enmeshed in the structures of their day, social actors play by the prevailing rules of the game and judge whether, in the large and in the small, they are fairly applied; the observer sees the interplay of rule following and revision and the changing motives for it. But the participants can't simply turn off their faculties of judgment when judgment tells them outcomes are unacceptable. Those faculties are rooted in and expressive of our very humanity. To abandon them would be to sacrifice ourselves utterly, and for an unknown and unintelligible...
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