In recent years, labour markets have been characterised by stagnant wages, reduced incomes and growing insecurity supplemented by the ongoing proliferation of outstanding payment obligations at almost all levels of economy and society. We draw upon current debates in social and economic theory to explore the disconnect between the deterioration of late capitalism’s distributive measures and the relative vitality of consumer cultures, suggesting that the latter relies substantially on immaterial, credit-based payment means to bridge the gap between the fundamental fantasy (...) of ‘more and better’ and the decline of material productivity denoted by base rate of profit. We then use this disconnect as a breach-point for an in-depth interdisciplinary discussion of the substantive and ideological function of credit. (shrink)

The advent of the ‘mega’ or world city seems inseparable from the ambivalent and transient experience of modernity – the ideals of liberty, individuality, property, accelerating progress, and, for many, the realities of immobility, anonymity, poverty, and arresting regression. When more than half of the global population pursues an existence within an urban frame, the densities and boundaries of urban spaces swell to fantastical proportions. With the vast increase in size, so the experiences and expectations of the city become more (...) pronounced and profound. This introduction to this special issue of Thesis Eleven, ‘Big City Blues’, discusses the themes and stories of the articles below, which present different aspects of life in the metropolis. The over-stimulation of the desensitized urbanite, the wandering flâneur who fortifies him/her self against fragmenting pressures, the explosion of everyday peace into riots, the battles for political and social recognition of identity and property rights, and the financial meltdown of an entire municipal institution, are just some of the things that take place in the modern city, and are explored here. (shrink)