Documents Fourcade, Marion 2 results

"What do markets see when they look at people? Information dragnets increasingly yield huge quantities of individual-level data, which are analyzed to sort and slot people into categories of taste, riskiness or worth. These tools deepen the reach of the market and define new strategies of profit-making. We present a new theoretical framework for understanding their development. We argue that (a) modern organizations follow an institutional data imperative to collect as much data as possible; (b) as a result of the analysis and use of this data, individuals accrue a form of capital flowing from their positions as measured by various digital scoring and ranking methods; and (c) the facticity of these scoring methods makes them organizational devices with potentially stratifying effects. They offer firms new opportunities to structure and price offerings to consumers. For individuals, they create classification situations that identify shared life-chances in product and service markets. We discuss the implications of these processes and argue that they tend toward a new economy of moral judgment, where outcomes are experienced as morally deserved positions based on prior good actions and good tastes, as measured and classified by this new infrastructure of data collection and analysis."

"This SASE Presidential address given at UC Berkeley in 2016 discusses the entanglement between morality and capitalism. Moral sentiments—and especially what Adam Smith called the sense of propriety, the sense of merit and the sense of justice—play a productive role in organizing the extraction of economic value. Conversely, relative valuations in the economy (prices, for instance) can be thought of as moral engines that reward or sanction certain behaviors, and are presumed to index underlying moral differences. Economic value is produced both when individuals are morally aligned with the rational goals of capitalism, and when they perform unhinged deviations from the moral standard. I show how modern digital capitalism organizes profit extraction through these twin processes of alignment and unhingement, building new economic moralities in the process—moral sentiments that are the result of people's interactions with opaque but powerful forms of behavioral fine-tuning, surveillance and manipulation."