The dozen or so readers who have entertained my writing would have noticed that I have not posted since May. Since May there has been a heartbreak, a longish pause spent on the reflection of my life in which no obvious solution to its woes was found, and an entry into finance, as a venture capitalist to be specific. Yes folks, I now spend my days figuring out better and more efficient ways to make money in risky ventures, under the auspices of the invisible hand. Upon a second bout of reflection – which now seems like a recurring disease – I have figured out that it is the same hand that now hovers over this keyboard, the same hand that produces nonsense from spreadsheet to pirated word document, the same hand that clutches a cigarette in the hope that my solitude will not be in vain. It began – and believe me, I do not wish to get press this point home again – with a hand. The guiding, if soft-spoken, question posed by a friend whilst his fingers snuck around his hands: ‘Have you ever thought of going into finance?’ My answer, if slightly desperate, was true: ‘Yes, I have’.
The irony, of course, is palpable: initially starting this blog as a rage against consumerism in all its varied and gilded forms, I am now an attempt to justify its relevance. I’d celebrate the irony, if it weren’t so boring. No, irony here is not some off-hand witticism, but a dull affair. It is some twisted realisation of history, or destiny, depending on your theological bias. I had a feeling my life could end up this way – with a dullness called irony.
Don’t get me wrong, there is something liberating about this dull irony, which allows me to go unthinking for hours on end. I spend my days collecting and producing reports on investments, sending emails to folks whose money is being invested and who evidently deeply care about their money, sit in board meetings with people who enjoy board meetings, and have lunch with hedge fund managers who sold off the old age of an entire generation. None are particularly difficult activities; however, they do require a different engagement with the 'world' than I'm used to - one where reproducing networks of capital is the primary objective. It is perhaps unnecessary to place this within the context of the financialisation of contemporary capitalism, taken to spectacularly popular heights by the 2008 crash and its ensuing catastrophes (recall, the hedge fund managers), but it would be remiss not to: my daily routines are governed by the vacuous attempt to produce something, anything, that resembles real value. Instead, what happens is I sit pretty on the merry-go round for the eternal quest of higher growth rates, whose only role is to mimic economic development. Generally unconcerned with the actual sustainability of the investment, the merry-go round operator and myself (both financiers) are rewarded for this gambit, largely thanks to a vague notion of financial 'success'.
So, what am I doing in this god-forsaken place, you may ask. Would you believe what I half-jokingly tell my friends - that I am the world's foremost Marxist investor? There is the opportunity for subversion in such a tale, one where I destroy capitalism from the inside, like a bad rehash of Fight Club’s end scene set in the infinitely quieter suburbs of Lusaka. Perhaps my increasingly bifurcated personality - indeed, the ability to distance my practical reality from the ideal of myself - lends itself to such tragedy. Or perhaps this properly reflects that hallmark of industrial society that has passed into Marxist folklore: alienation from one’s labour; except, that I’m not so much divorced from the means of production, nor its products: financiers are not known for their penury. Our father Marx would have probably thought of me as the modern aberration of the petite bourgeoisie, and abandoned me.
Keeping in mind the clear patricide I am committing, I would like to absolve myself, and instead frame my betrayal in terms of enlightenment: I feel it necessary to sacrifice myself to the godhead of capital for the time being, if only to better understand: i) myself - I've always wondered if I’m fit to pretend I care about finance and business; and ii) how the other half live, in their mansions of make-believe, sustained mostly by fictions of their self-value, but also through the dishonesty of the capital being raised and deployed. Dishonesty here is not a moral judgement on finance or capital per se, a common mistake made by folks who assume finance is reprehensible because it ‘profits without producing’[1]; rather, it is a moral judgement on the types of economic ‘progress’ (or ‘growth’) valued above others, where high-growth enterprises are valued above low-growth enterprises, regardless of the sustainability of that enterprise. And financiers, because they have an explicit interest in maintaining high growth rates, will always choose the former.
It is unlikely that these thoughts would have developed elsewhere, in the vacuums of thought that characterise our everyday lives, whether it is endlessly scrolling through social media or engaging in small talk with a work colleague. And so, I thank the investment firm for making me angry. There is a poetics to anger that I have forgotten about, which in the past occasionally reared its wonderful head only in moments of true frustration. This is not that; this is an anger directed outwards towards the world, and inwards towards my own dull irony. But whatever the cost, I'll take the irony for now.
Notes [1] See Lapavitsas, Costas. “The Financialization of Capitalism: ‘Profiting Without Producing.’” City. 17, no. 6 (2013): 792–805.