Natives: Race & Class in the Ruins of Empire – Akala
Akala tells the story of race and class in his life – featuring interactions with police, violence growing up, racist experiences throughout his education – and places it in a wider social and historical context.
His deeply informed and nuanced analysis picks apart narratives of ‘black-on-black crime’ (were the Troubles or Glasgow’s gangs ‘white-on-white crime’?); exposes our shallow self-serving vision of the end of the slave trade (which omits the role of slave rebellions); reveals Cuba’s significance in fighting apartheid; and much more.
Akala uses history and data to place his own experiences in the context of a class-stratified society forged in racialised imperialism, and unable to face up to the reality of its past or present. All more clear and readable than I’m making it sound.
Here he is talking about this stuff.
The Value of Everything: Making and Taking in the Global Economy – Mariana Mazzucato
In mainstream neoclassical economics, things are seen as valuable to the extent they fetch a price on the market – reflected through supply, demand, and marginal utility. Mazzucato contrasts this ‘marginalism’ with earlier theories of what value is, how it’s generated, and how it may be extracted – arguing that as economics largely stopped debating the meaning of value, it has become easier for value extraction to masquerade as value creation.
The financial sector fetches a price on the market, but much of it is hardly ‘productive’. Often profits are ‘justified’ by risk-taking, but most of the real risk is taken in prior public investment and not rewarded. Inflated medicine prices are unjustified by research costs, and the argument their prices are high in proportion to benefit to society is false and has unacceptable implications (how expensive should water be?).
The public sector is undervalued, making it more vulnerable to capture by supposed ‘wealth creators’. Short-termism is incentivised, with firms spending astronomical sums on share buy-backs to please shareholders (instead of wages and investment). GDP has bizarre holes – if a company cleans up its own pollution that’s a cost which reduces GDP, if someone else is paid to clean up then GDP rises because paying workers adds value!
Marginalism is riddled with problems. Mazzucato doesn’t present a new alternative theory of value – the book’s long enough, to be fair – but calls for renewed debate about it to give rise to better policy. She does have a range of reasonable prescriptions, like using a financial transaction tax to incentivise long-term investment, nationalising natural monopolies such as energy, and upholding ‘stakeholders’ rather than shareholders.
I’m no economist, but I couldn’t help feeling she kept dodging the implications for capitalism itself. If landlords extract value, while there are more empty homes than homeless people, should housing even be a market commodity you can earn money just by owning and renting out? Isn’t the logical endpoint of ‘stakeholders>shareholders’ (at very least) Jeff Bezos losing a great deal of ownership and influence to all those employees he’s got pissing in bottles? If value doesn’t really track price, might markets and the profit-motive be inherently problematic means of arranging production and exchange? Important questions, but the answers are taken for granted here.
Even the Dogs – Jon McGregor
A man’s body is found lying in his dilapidated flat. Those who knew him watch from the sidelines as he is investigated, their stories of homelessness and heroin addiction unfurling in a close, intense portrayal of troubled lives.
This can be difficult to read, not just because of the subject matter, but also because the chronology is stretched and shuffled, speech merging into narration, sentences occasionally fragmented and paragraphs tumbling out of control. But if you can stick with it, you come to find the rhythm of the prose and the story, with each crisply depicted moment and detail adding to something deeply compelling, informed, and empathic.
There are some fantastically beautiful evocative passages, and the darkness is tempered by the humanity of the characters and moments of humour – ‘I don’t think I’d even have mental health problems in the first place if the voices were just a bit nicer to me, you know what I’m saying?’
From Hell – Alan Moore & Eddie Campbell
A t h i c c graphic novel exploring the case of Jack the Ripper. More than a theory of occult conspiracy and a story of legendary violence, it’s also an inspired depiction of the Victorian world and the birth of the modern age, reflecting on power and our fascination with evil.
Campbell’s simple but expressive black-and-white imagery fits the time period, portraying vistas of London as well as graphic brutality. The style complements the mood of Moore’s writing, rendered in suitably rough font – though I sometimes wanted it a little clearer or bigger.
The story is fascinating and multi-layered, going beyond the murders themselves to delve into the police drama and to highlight the victims; who are treated as meaningful in themselves, and to whom the work is dedicated. All the characters are convincing, their interactions showing different perspectives and places in society, backed by research, understanding, and wit.