Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economic Geography > Knowledge Circulations > Flashcards

Knowledge Circulations Flashcards

You may prefer our related Brainscape-certified flashcards:
U.S. Geography flashcards World Geography flashcards
1
Q

What are the functions of money for economic research?

A
  • Circulates as a valuable commodity and makes it possible for other commodities to circulate
  • Conveys knowledge about economies –> abstract accounting unit for comparison
  • Performs culturally/symbolically –> exclusion, inclusion, resistance…
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are the classic functions of money in modern capitalism?

A
  1. Medium of exchange: ‘universal commodity’
  2. Store of value: holds value over time
  3. Unit of account: represent and measure prices of many different items
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

How is money a geographical phenomenon?

A
  • Challenge social theorists that modern money forms are disembedded from place
  • “Money is itself a geography” – money as a circulation is always on the move but also rooted in specific places; new geography of money via dematerialisation and trans-national circulation

Gilbert and Helleiner (1999)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

How is money a political phenomenon?

A
  • Money as an instrument of power
  • States relation to national currencies
  • Alternative currency arrangements for power and legitimacy for statements
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are money’s multiple origin points?

A
  • Territorial state-backed currencies
    • Minted under state supervision
    • Bitcoin circumvent this as an individual can produce money
  • Cosmopolitan ‘credit monies’
    • Bank checking accounts
    • Financial derivatives
    • More recently: cryptocurrencies
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Why is there a discomfort with paper and digital currencies ?

A
  • Now floating
  • Not backed by gold
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

How is bitcoin reliant on energy?

A
  • Consumption of energy for bitcoin mining
  • Reliance on the state
  • Every individual Bitcoin transaction eats up 275kWh of electricity
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How does money’s functions work in contradictory ways in modern capitalism?

A
  • Act as a medium of exchange while remaining a store of value
  • Challenge for capitalist states
  • Problem of inflation: currency loses value, anyone holding it has lost purchasing power
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are special monies?

A
  • Value of money decided in social relations they are used for
  • Domestic money set apart from real money by ideas of family life
    • Shaped by gender, class and age
    • Distinct from rules of the market
  • Domestic money remains hidden in dominant economic paradigm of rationalizing market money

Zelizer (1989)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

How does special monies challenge neoclassical economic theory?

A
  • Develop sociological model of multiple monies as a challenge to neoclassic economic theory
  • Not only to study of money but other aspects of economic life, including the market

Zeilzer (1989)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

How does money permit the separation of sales and purchases of other commodities in space and time?

A
  • As seller of one commodity under no obligation to buy another (Harvey, 1982)
  • Money enables the veiling of a commodity’s social and spatial background
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is Mann’s (2008) idea about money in relation to capitalism?

A

The stitch of capitalism’s space-time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What are the cases for following the money?

A
  1. God of commodities
  2. Culmination of fetishisms
  3. Embeddedness in the social
  4. Financialisation

Christophers (2011)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is the god of commodities case for following the money?

A
  • Marx regards money as “the commodity par excellence”
  • Money is both universal medium of exchange and universal measure of value
  • Commodity circulation in capitalist economy depends on exchange of money

Christophers (2011)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is the culmination of fetishisms case for following the money?

A
  • Money form conceals our social relations with others but also social meaning of value itself
  • Money as the indispensible ingredient in commodity fetishism under capitalism

Christophers (2011)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the embededness in the social case for following the money?

A
  • Creation and circulation of money, e.g. traditional forms of money
  • Modern monies are not empty or abstract but are dependent on re-embedding in social relations

Christophers (2011)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is the financialisation case for following the money?

A
  • Money’s colonisation of our lifewords
  • Monetisation of capitalism is more concerned with wealth of financial assets rather than goods or productive resources
  • Money is so entangled in capital wealth we should focus on money in our attempts to expose fetishism of capital at large

Christophers (2011)

18
Q

What is the indefinite circulation challenge of following the money?

A
  • With other commodities there is a clear consumption (end) and production (beginning) point
  • No final consumption point for money
  • Traditional monies always remain in circulation (Harvey, 1982)
  • What meaningful temporal framing of the process of circulation should be used?

Christophers (2011)

19
Q

What is the distinguishably challenge with following the money?

A
  • Loses this feature when individual unity enters hands of economic agent that handles multiple monetary units
  • Money from source is identical in value and utility to money from another source –> both serve equally well for onward circulation

Christophers (2011)

20
Q

What is the case for using credit as the focus of defetishising money ?

A
  • Credit interiorises the future
  • Has start and end point (crystallisation to repayment)
  • Creation of credit occurred in past we can follow the ‘thing’ – debt servicing and repayment obligation – forward to moment that initial monetary sum became valorised
  • Feed later valorisation back into former crystallization to contribute to its defetishisation
21
Q

How does credit mitigates challenges of defetishising traditional monies?

A
  • Circulation of money tied to particular credit contract has discrete beginning and end
  • Credit is circular it returns: identity who issues credit and whom it is issued for
22
Q

How has defetishising of money become more apparent?

A
  • Become more apparent since practices of credit securitisation have led to traceability
  • Historical geography of financial crisis concerning circulation of securitised subprime US home loans
23
Q

How does defetishising money relate to crisis?

A

When value of certain monies is called into question, money’s social construction becomes clearer to see, i.e. in times of crisis and uncertainty

24
Q

How does economic theory relate to political economy approach?

A
  • Promoted by powerful interests and institutions
  • Travel and mutate to produce various and contradictory outcomes
  • Peck (2010) suggests that ideology of pro-market governance concerned with following flows between ideational, ideological and institutions over time and places rather than locating an essential centre
25
Q

What is economic theory?

A

Generative force in production and reproduction of economies

26
Q

What is the cultural economy approach to economic theory?

A
  • Manifests structural power-knowledge
  • Relational and processual terms
27
Q

What does economic geography add to performance of the economy?

A
  • Space
  • Place
  • Geographical circulation

Barnes (2009)

28
Q

What are the four geographical perspective to performance?

A
  1. Performing the economic geography of markets
  2. Performing economic geography of economic theory
  3. Performing the geography of markets
  4. Performing spatial politics of market organisation

Barnes (2009)

29
Q

How do you perform the economic geography of markets?

A
  • Location theory – inherently spatial
  • Spatial market performance

Barnes (2009)

30
Q

How do you perform the economic geography of economic theory?

A
  • All knowledge is local
  • Knowledge travels: movements from one local knowledge to another
31
Q

How do you perform the geography of markets?

A
  • Place matters
  • Traders in two places perform same equations, the performances are quite different between two sites
  • Different commodity markets and have different material performances: maps of steamship routes, railway lines, major ports and urban markets
32
Q

How do you perform the spatial politics of market organisation?

A
  • Callon opens up alternative market experimentation that are different to neoclassicism
  • Performativity opens up novel possibilities through experimental character of markets and market organisation
33
Q

How do Gibson-Graham show that the economy is performed in many different ways?

A
  • Political task is to recognise alternatives and begin to perform them
  • Performed in particular places feeds into transformation of wider economy
  • Very performance of research itself
34
Q

Where did economic knowledge in circulation come from post 1960s

A

Came from number of centres – business schools, management consultants etc

35
Q

How are circuit used to understand economic knowledge circulations?

A
  • Emphasises throughput, return and feedback loops over flows in many directions
36
Q

What does circuit thinkinh of economic knowledge circulations invoke?

A
  • Invokes Marxist Political Economy account of ‘circuits’
    • Productive circuit of capital create value, i.e. commodity production
    • Financial circuits extracts ‘rent’ in return for credit investment, i.e. banking and financial markets
    • Secondary circuit of capital also extracts ‘rent’, e.g. land and property markets
37
Q

How does knowledge circulation act as a new set of markets for capitalism?

A
  • Opening ‘black box’ of firm
  • Cultural circuit also lies within centre of ‘knowledge economy’
  • Capitalism entering a new phase where information circulations are crucial
  • Cutting edge capital accumulation rests on availability of information (‘big data’) and analysis (i.e. knowledge creation) to extract value
38
Q

What are the three market devices of knowledge capitalism?

A
  • Affective economies
    • Analysis of big data yields consumers’ feelings about and attachments to products incorporated back into the innovation process
    • ‘Opinion mining’ uses algorithms through social media, for example
    • ‘Capitalizing on identity as consumption is construction and affirmation of the self
  • Attention economies
    • Digital design, marketing and advertising treat attention as a scarce commodity
    • Market devices that use filters to sell attention to advertisers and companies
  • Blockchain technologies
39
Q

How might we understanding economic geographies of circulation differently to mainstream economic conceptions and in critical terms?

A
  • Social and political creation of markets
  • Processes of commodification and their labour relations
  • Flows and networks of knowledge which produce the capitalist market economy
40
Q

From a political and cultural economy perspective, how are worlds of motion that comprise economic geographies of circulation constantly constituted and reconstituted?

A
  • From capitalist commodity production and commodification to groupings of ‘follow the thing’ and material transformations
  • From ideology and circuits to performativity and calculative devices

Economic Geography (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions