A/Moral Economics is an interdisciplinary historical study that examines the ways which social “science” of economics emerged through the discourse of the literary, namely the dominant moral and fictional narrative genres of early and mid-Victorian England. In particular, this book argues that the classical economic theory of early-nineteenth-century England gained its broad cultural authority not directly, through the well- known texts of such canonical economic theorists as David Ricardo, but indirectly through the narratives constructed by Ricardo’s popularizers John Ramsey McCulloch and Harriet Martineau.
By reexamining the rhetorical and institutional contexts of classical political economy in the nineteenth century, A/Moral Economics repositions the popular writings of both supporters and detractors of political economy as central to early political economists’ bids for a cultural voice. The now marginalized economic writings of McCulloch, Martineau, Henry Mayhew, and John Ruskin, as well as the texts of Charles Dickens and J. S. Mill, must be read as constituting in part the entities they have been read as merely criticizing. It is this repressed moral logic that resurfaces in a range of textual contradictions—not only in the writings of Ricardo’s supporters, but, ironically, in those of his critics as well.
Between 1870 and 1930, Latin American countries were incorporated into global capitalist networks like never before, mainly as exporters of raw materials and importers of manufactured goods. During this Export Age, entire regions were given over to the cultivation of export commodities such as coffee and bananas, capital and labor were relocated to new production centers, and barriers to foreign investment were removed. Capital Fictions investigates the key role played by literature in imagining and interpreting the rapid transformations unleashed by Latin America’s first major wave of capitalist modernization.
Using an innovative blend of literary and economic analysis and drawing from a rich interdisciplinary archive, Ericka Beckman provides the first extended evaluation of Export Age literary production. She traces the emergence of a distinct set of fictions, fantasies, and illusions that accompanied the rise of export-led, dependent capitalism. These “capital fictions” range from promotional pamphlets for Guatemalan coffee and advertisements for French fashions, to novels about stock market collapse in Argentina and rubber extraction in the Amazon.
Beckman explores how Export Age literature anticipated some of the key contradictions faced by contemporary capitalist societies, including extreme financial volatility, vast social inequality, and ever-more-intense means of exploitation. Questioning the opposition between culture and economics in Latin America and elsewhere, Capital Fictions shows that literature operated as a powerful form of political economy during this period.
A literary scholar and investment banker applies economic criticism to canonical novels, dramatically changing the way we read these classics and proposing a new model for how economics can inform literary analysis.
Every writer is a player in the marketplace for literature. Jonathan Paine locates the economics ingrained within the stories themselves, revealing how a text provides a record of its author’s attempt to sell the story to his or her readers.
An unusual literary scholar with a background in finance, Paine mines stories for evidence of the conditions of their production. Through his wholly original reading, Balzac’s The Splendors and Miseries of Courtesans becomes a secret diary of its author’s struggles to cope with the commercializing influence of serial publication in newspapers. The Brothers Karamazov transforms into a story of Dostoevsky’s sequential bets with his readers, present and future, about how to write a novel. Zola’s Money documents the rise of big business and is itself a product of Zola’s own big business, his factory of novels.
Combining close readings with detailed analyses of the nineteenth-century publishing contexts in which prose fiction first became a product, Selling the Story shows how the business of literature affects even literary devices such as genre, plot, and repetition. Paine argues that no book can be properly understood without reference to its point of sale: the author’s knowledge of the market, of reader expectations, and of his or her own efforts to define and achieve literary value.
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