Excerpt: Joseph Vogl, The Specter of Capital

On the one hand, the rationality of economic transactions is renscribed here in a new code: the exchange “mechanism” becomes the “web” of competition. Competitive societies are understood as being defined less by reciprocal trade relations — as was still the case in the eighteenth century — than by competitive differences or inequalities. And whereas the market once fulfilled the (liberal) natural law of self-interest, it now follows the (neoliberal) idea or form (ēidos) of competition.

Joseph Vogl, The Specter of Capital (Stanford: Stanford University Press, 2015), p.38.

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