ABSTRACT

This paper argues that asset ownership is becoming more important than employment as a determinant of class position. The introduction considers this claim with respect to Piketty’s contribution, arguing that the latter is too focused on the growth of wealth at the very top. The first section draws on the work of Hyman Minsky to outline the logic of assets. We differentiate our approach from competing perspectives that tend to overemphasize the orthodox image of the market and in particular the idea that liquidity is an inherent aspect of financialization. Such perspectives neglect that participation in the asset economy often involves (and regularly necessitates) making highly illiquid investments. The subsequent section advances a new analytic of class and inequality, and the last section develops this further in a more philosophical register to consider how the temporal logic of the asset economy is shaping new life-times. The conclusion reflects on the political implications and prospects of the asset economy.

摘要

本文认为，作为阶级地位的决定因素，资产所有权正变得比就业更重要。引言考虑了皮凯蒂的贡献这一说法，认为后者过于关注最高层的财富增长。第一部分借鉴 Hyman Minsky 的工作来概述资产的逻辑。我们将我们的方法与倾向于过分强调市场正统形象的竞争观点区分开来，特别是流动性是金融化固有方面的观点。这种观点忽略了参与资产经济通常涉及（并且经常需要）进行高度非流动性的投资。下一节提出了对阶级和不平等的新分析，最后一部分以更哲学的方式进一步发展了这一点，以考虑资产经济的时间逻辑如何塑造新的生命时代。结论反映了资产经济的政治影响和前景。