Generation Bubble

Me en Abyme: Value Crisis, Immaterial Labor, and Monetized Selfhood

If capital has run out of productive investments for making goods and services, and the cycle of expanding fictitious capital has played itself out for the time being, it may retrench by financing a manufacturing project that never ends — the production of the self, as carried out in the “social factory.” The postwar transition to consumerism initiated this transvaluation of value in the realm of consumption. Rather than imagining ourselves valuable for the traditional role we assume in our community, we instead try to discover and enlarge our subjectivity through publicized acts of consumption — be they conspicuous luxuries or altruistic acts or clever, innovative re-uses of goods, or what have you. We consume to create cool, which in turn reflects the glories of its creator. But from the point of view of capital, our acts of everyday self-realization are perceived as knowledge production for the information economy, elaborating the intricately woven code (as Jean Baudrillard calls it) that constitutes the symbolic value of brands and goods.