Economic Science Fictions reviewed: Speculate to innovate

This article originally appeared in Vector #288.

Reviewed by Madeleine Chalmers

Fantasies are things that can’t happen, and science fiction is about things that can happen.

— Ray Bradbury, interview with Joshua Klein for The Onion (1999)

If self-proclaimed ‘not a science fiction writer’ Ray Bradbury ever needed an academic publication to bolster his sprightly quip, then Economic Science Fictions is it. In this bold and exciting collection, William Davies and his contributors offer us an unapologetic manifesto for the power of ‘can’, pushing Bradbury’s statement to its limit to issue a call to arms: economic science fictions are not just ‘about things’, they do things – and so can we.

Taking a firm stance amid the contemporary swirl of fake news and financial, political, and ecological hyperobjects, this major interdisciplinary contribution confronts the porosity between fiction and reality head-on, to interrogate the rigid boundaries we often impose, the assumptions we make, and the mental and social habits we forget to question.

As such, Davies’s collection is a welcome addition to a growing canon of post-2008 crash literature which seeks to combine critique and clear political statements with intellectual rigour, reconnecting academia with ‘the real world’. It takes its place alongside such titles as the late Mark Fisher’s Capitalist Realism (2009) and Nick Srnicek and Alex Williams’s Inventing the Future (2015). From Fisher’s luminous foreword, in which he posits economic science fictions as ‘effective virtualities’ (xiii), onwards, this collection aims to counter the fiction that is capitalism. It invites readers to turn from speculative finance and its logic of accumulation (with the permanent risk of catastrophe), to speculative fiction and its potential to write – and set right – the world. 

This title forms part of Goldsmiths’s PERC (Political Economy Research Centre) series, which defines itself as a ‘pluralist and critical approach to the study of capitalism’. This commitment to interdisciplinarity and dialogue between the academic and non-academic spheres is made absolutely manifest in the collection’s diversity. It has an echo of the democratic ecumenism of the underground 1990s zines, as theory-fictions intermingle with more canonical forms of academic writing. Indeed, the title of Judy Thorne’s ‘Speculative Hyperstition at a Northern Further Education College’ raises the spectre of that mid-1990s phenomenon, the Cybernetic Culture Research Unit. Today, in 2018, writers, artists, architects and musicians mingle polyphonically with founders of think tanks and consultancies, as well as journalists, early career researchers, and established academics. 

William Davies’s shrewd editing allows these very different contributions to speak to one another and shine. His opening ‘Introduction to Economic Science Fictions’ grounds the discussion in classic liberal economic theories of value. Taking as his sparring partners Ludwig von Mises and Friedrich Hayek, Davies teases out how capitalism is constructed around the flexible ‘division between “real” and “imaginary” value”’ which, as he points out, ‘is how financial bubbles occur: when collective imagination starts to become mistaken for an empirical reality’ (23). Lucidly and compellingly, Davies reconfigures this instability as an opportunity, positing politically progressive economic science fictions as a means to engage with capitalism on its own oscillating ground, poised between the fictional and the non-fictional.

The four sections which follow – each with a clear and concise introductory overview – develop this core thesis. The texts within them move fluidly from theory to practice and back again, with examples which will be familiar (or at least not wholly alien) to non-academic and academic readers alike. While it is only possible to pick out highlights here, what consistently impresses is the interweaving of analyses of science fictions, evocations of personal practice, theories of global megastructures, and creative riffs. Interlocking in surprising yet harmonious ways, within and across the various essays, these texts probe disciplinary boundaries in provocative and illuminating ways.

The collection’s first section – ‘The Science and Fictions of the Economy’ – grounds us in the nuts and bolts of the dream-mechanics of economics, with contributions from distinguished academics on the corporate imaginary (Laura Horn), the anthropology of money (Sherryl Vint) and automation (Brian Willems). Alongside these, Ha-Joon Chang’s contribution (‘Economics, Science Fiction, History and Comparative Studies’) stands out – as much for its laudable inclusion in a collection overwhelmingly dominated by ‘non-economists’, as for its content. A second section on ‘Capitalist Dystopias’ gives us a whistlestop tour of different dystopias in which capitalism is pushed to its limits. Here, accelerationist nightmares rub shoulders with the more ambiguous vision of Dan Gavshon Brady and James Pockson’s gloriously-titled ‘Fatberg and the Sinkholes: A Report on the Findings of a Journey into the United Regions of England by PostRational’. Readers wary of discourse about discourse will find the ‘Design for a Different Future’ section refreshing, for its pragmatic yet playful turn towards architecture, urban planning, and design.

But it is perhaps in the final section, ‘Fumbling for Utopia’, that Economic Science Fictions offers the ideal meta-reflection on the collection as a whole. Featuring four economic science (theory-)fictions, it closes with Jo Lindsay Walton’s ‘Public Money and Democracy’ – a fiction with footnotes, which perfectly encapsulates the collection’s aspiration to break down the barriers between the real and the imagined.

This collection makes no secret of its political stance. Readers looking for neutrality, dry objectivity, or dissent from the valorisation of science fiction and its role in building a post capitalist future will not find it here. The voices of economists who – unlike Ha-Joon Chang – are not avowed SF fans, sceptical SF writers, or interviews between converts and sceptics might have helped to redress this balance, and add a new dynamism to what remains an invigorating discussion – but not really a debate. Greater granularity in the definition of capitalism as it manifests itself in different national contexts (including non-European and non-US contexts) would also have added even greater bite to a collection that seeks to cross wires between the abstract and the pragmatic.

Quibbles aside, this collection is stimulating for believers and dreamers, but also provides ample material to dig into and with which to productively disagree for those who are not quite converts. Its return to political and social commitment represents a passionate and urgent response to our contemporary situation, and an astute and convincing argument for – and illustration of – interdisciplinarity and the interweaving of theory and practice, inside and outside the academy. It is a collection which empowers us to speculate – to invest in fiction not just as a means to provoke but as a means to intervene in our confused and confusing world.

Madeleine Chalmers is studying for a DPhil in French at the University of Oxford, funded by the Oxford University AHRC Doctoral Training Partnership – Sir Ivor Roberts Graduate Scholarship at Trinity College. Her research project on ‘unruly technics’ explores how avant-garde French literature of the late nineteenth and early twentieth centuries negotiate the increasingly tight imbrication of technology into human life, and the challenge it poses to how we think about ourselves, our relationship to others and to our world. It seeks to place these texts of the past in dialogue with current philosophical reflections on technology, to explore how this encounter can help us to think about our technological present, and future.