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In Standards of Value, Michael Germana reveals how tectonic shifts in U.S. monetary policy—from the Coinage Act of 1834 to the abolition of the domestic gold standard in 1933–34—correspond to strategic changes by American writers who renegotiated the value of racial difference. Populating the pages of this bold and innovative study are authors as varied as Harriet Beecher Stowe, George Washington Cable, Charles Chesnutt, James Weldon Johnson, Nella Larsen, Jessie Redmon Fauset, and Ralph Ellison—all of whom drew analogies between the form Americans thought the nation's money should take and the form they thought race relations and the nation should take.

A cultural history of race organized around and enmeshed within the theories of literary and monetary value, Standards of Value also recovers a rhetorical tradition in American culture whose echoes can be found in the visual and lyrical grammars of hip hop, the paintings of John W. Jones and Michael Ray Charles, the cinematography of Spike Lee, and many other contemporary forms and texts.

This reconsideration of American literature and cultural history has implications for how we value literary texts and how we read shifting standards of value. In vivid prose, Germana explains why dollars and cents appear where black and white bodies meet in American novels, how U.S. monetary policy gave these symbols their cultural currency, and why it matters for scholars of literary and cultural studies.

    Everybody’s got a theory . . . or do they?
    Thomas McLaughlin argues that critical theory—raising serious, sustained questions about cultural practice and ideology—is practiced not only by an academic elite but also by savvy viewers of sitcoms and TV news, by Elvis fans and Trekkies, by labor organizers and school teachers, by the average person in the street.
    Like academic theorists, who are trained in a tradition of philosophical and political skepticism that challenges all orthodoxies, the vernacular theorists McLaughlin identifies display a lively and healthy alertness to contradiction and propaganda. They are not passive victims of ideology but active questioners of the belief systems that have power over their lives. Their theoretical work arises from the circumstances they confront on the job, in the family, in popular culture. And their questioning of established institutions, McLaughlin contends, is essential and healthy, for it energizes other theorists who clarify the purpose and strategies of institutions and justify the existence of cultural practices.
    Street Smarts and Critical Theory leads us through eye-opening explorations of social activism in the Southern Christian anti-pornography movement, fan critiques in the ‘zine scene, New Age narratives of healing and transformation, the methodical manipulations of the advertising profession, and vernacular theory in the whole-language movement. Emphasizing that theory is itself a pervasive cultural practice, McLaughlin calls on academic institutions to recognize and develop the theoretical strategies that students bring into the classroom.

“This book demystifies the idea of theory, taking it out of the hands of a priestly caste and showing it as the democratic endowment of the people.”—Daniel T. O’Hara, Temple University, author of Radical Parody:  American Culture and Critical Agency after Foucault and Lionel Trilling: The Work of Liberation.

“McLaughlin takes seriously the critical and theoretical activity of everyday people and does so in a way that will empower these very populations to take seriously their own activities as theorists. . . . A manifesto that is sure to be heard by the younger generation of thinkers in American cultural studies.”—Henry Jenkins, MIT, author of Textual Poachers: Television Fans and Participatory Culture