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2018 | Buch

Political Economy and the Novel

A Literary History of "Homo Economicus"

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Political Economy and the Novel: A Literary History of ‘Homo Economicus’ provides a transhistorical account of homo economicus (economic man), demonstrating this figure’s significance to economic theory and the Anglo-American novel over a 250-year period. Beginning with Adam Smith’s seminal texts – Theory of Moral Sentiments and The Wealth of Nations – and Henry Fielding’s A History of Tom Jones, this book combines the methodologies of new historicism and new economic criticism to investigate the evolution of the homo economicus model as it traverses through Ricardian economics and Jane Austen’s Sanditon; J. S. Mill and Charles Dickens’ engagement with mid-Victorian dualities; Keynesianism and Mrs Dalloway’s exploration of post-war consumer impulses; the a/moralistic discourses of Friedrich von Hayek, and Ayn Rand’s Atlas Shrugged; and finally the virtual crises of the twenty-first century financial market and Don DeLillo’s Cosmopolis. Through its sustained comparative analysis of literary and economic discourses, this book transforms our understanding of the genre of the novel and offers critical new understandings of literary value, cultural capital and the moral foundations of political economy.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Introduction
Abstract
Comyn provides an introduction to the figure of homo economicus (economic man) and analyses the historical and contemporary debates surrounding this figure, demonstrating its significance to both literary and economic discourses over a 250-year period. Recognising and exploring the tradition of moral philosophy that political economy emerges from, and the emotional and imaginative insight of economic theory’s origins, Comyn identifies and investigates the category of the “empathic imagination” in the origins of political economy and the novel, and its implications for the development and understanding of homo economicus. Combining the methodologies of new historicism and new economic criticism, Comyn engages with transhistorical and transnational narratives concerning literary value: aesthetic, economic, cultural, and political.
Sarah Comyn
Chapter 2. The Contested Birth of Homo Economicus
Abstract
Juxtaposing Henry Fielding’s Tom Jones (1749) with the civic and economic discourses of Adam Smith—The Theory of Moral Sentiments (1759) and The Wealth of Nations (1776)—this chapter investigates the origins of homo economicus in the novel, moral philosophy, and political economy. Analysing the growing tensions between propertied wealth and that of cash and credit, Comyn demonstrates that the original homo economicus is not simply a rational, self-interested individual. Rather, as Comyn shows, Adam Smith’s vision of the economic individual recognises the need for imaginative empathy in mediating the relations of people but also in judging the value of commodities. Comyn reveals how Smith refigures many of the concerns raised by Tom Jones regarding the nature of fiction, writing, and value, and the problem of representation attendant to both writing and the emergent paper currency.
Sarah Comyn
Chapter 3. The Speculative World of Sanditon
Abstract
Comyn argues that Jane Austen’s unfinished novel Sanditon (written 1817) provides insights into the changes taking place within the British economy and the reconceptualisation of value. Through a comparative analysis with David Ricardo’s Principles of Political Economy and Taxation (1817), Comyn demonstrates how Sanditon explores the disquietude surrounding the ongoing suspension of note convertibility, enacted by the Bank Restriction Act of 1797. This chapter argues that Sanditon also implicitly portrays homo economicus as a failed reader in a speculative economy, where the categories of use value and exchange value are perpetually confused.
Sarah Comyn
Chapter 4. A Marginal Life in Great Expectations
Abstract
Focusing on Pip’s necessary traversal of the margins of homo economicus’ environment, Comyn examines the manner in which Great Expectations (1861) foregrounds and complicates many of the moral and social dimensions the economist John Stuart Mill attempts to exile from political economy’s concerns. Simultaneously, however, this chapter rescues Mill from the easy demonisation that his abstract model of political economy has afforded him. Instead, this chapter demonstrates the complex imbrication of moral and amoral domains that both Dickens and Mill attempt to confront but are never able completely to resolve or stabilise. This chapter shows how Pip is ultimately redeemed by his empathic imagination.
Sarah Comyn
Chapter 5. Woolf, Keynes, and the Compulsion to Consume
Abstract
In this chapter, Comyn analyses Virginia Woolf’s Mrs Dalloway (1925) and John Maynard Keynes’ The General Theory of Employment, Interest and Money (1936), revealing how both writers confront the dissolution of the British Empire and its consequences for homo economicus. Determined to question how economics functions in actual, everyday life, both writers portray the complexities and limitations of economic theory. Comyn argues that these texts show the significance of the empathic imagination for tracing the socio-economic relationships of individuals within a community, especially those individuals occupying the margins of society. Studying the implications of time on human interactions, expectations and actions, and the imperfectability of equations—whether psychological or mathematical—this chapter demonstrates homo economicus’ incorporation within the particular, and the general, of post-WWI society.
Sarah Comyn
Chapter 6. The Neoliberal Ideologue
Abstract
Comyn examines the vision of a market-based ethics and ideology expounded in Ayn Rand’s Atlas Shrugged (1957) and Friedrich von Hayek’s The Road to Serfdom (1944). Comyn argues that while the moral code proposed by Atlas Shrugged means that it remains a controversial novel, its celebration of homo economicus as a creative individual and its belief that this individual’s unwavering pursuit of wealth, self-interest and success is in some manner beneficial for society as a whole, is emblematic of the neoliberal turn in economics. Despite neoliberal economists’ claims and celebrations of the amorality of the market, this chapter illustrates how neoliberalism frames the market as a morally superior system to socialism.
Sarah Comyn
Chapter 7. The Asymmetric Prostate: Symptoms of a Failed Technocrat in Cosmopolis
Abstract
This chapter examines the maturation of homo economicus as portrayed in Don DeLillo’s Cosmopolis (2003). Situating the novel within the digital information age inspired by the neoliberal capitalist system, Comyn argues that Cosmopolis both explores the discourse of projection and futures that define the virtual market, and also highlights the romantic vision that accompanied the boom of the Roaring Nineties. This chapter demonstrates how the characters Eric Packer and his assassin (Benno Levin) are representative of homo economicus on either side of the divide created by the virtual capital that saw its ultimate ascendancy through the Information Revolution. Comyn’s analysis shows that the rise of the virtual market reinstalled the mythological aspects that accompanied the birth of the modern market and its promise of lucre, as well as the figure who was tasked with mining its depths: homo economicus.
Sarah Comyn
Chapter 8. Coda
Abstract
In this coda, Comyn examines the launch of the Jane Austen banknote, the emergence of cryptocurrencies, and their significance for debates about value and representation. These currencies, Comyn argues, return us to the (irrational) optimism that characterised the first financial speculations and crashes, and exposed the fictional elements of the economic system. Comyn demonstrates that regardless of the type of currency that circulates—whether specie, paper, or digital—the economic system always courts the imagination. The collision of the fictional and financial realms is not new. Instead, Comyn argues that the confluence of the imaginative and economic domains has always had a spectral presence in the history of economic theory and the novel; sometimes acknowledged, often ignored.
Sarah Comyn
Backmatter
Metadaten
Titel
Political Economy and the Novel
verfasst von
Sarah Comyn
Copyright-Jahr
2018
Electronic ISBN
978-3-319-94325-1
Print ISBN
978-3-319-94324-4
DOI
https://doi.org/10.1007/978-3-319-94325-1

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