Melinda Cooper

Rising inequality is the defining feature of our age. With the lion’s share of wealth growth going to the top, for a growing percentage of society a middle-class existence is out of reach. What exactly are the economic shifts that have driven the social transformations taking place in Anglo-capitalist societies? In this timely book, Lisa Adkins, Melinda Cooper and Martijn Konings argue that the rise of the asset economy has produced a new logic of inequality. Several decades of property inflation have seen asset ownership overshadow employment as a determinant of class position. Exploring the impact of generational dynamics in this new class landscape, the book advances an original perspective on a range of phenomena that are widely debated but poorly understood – including the growth of wealth inequalities and precarity, the dynamics of urban property inflation, changes in fiscal and monetary policy and the predicament of the “millennial” generation. Despite widespread awareness of the harmful effects of Quantitative Easing and similar asset-supporting measures, we appear to have entered an era of policy “lock-in” that is responsible for a growing disconnect between popular expectations and institutional priorities. The resulting polarization underlies many of the volatile dynamics and rapidly shifting alliances that dominate today’s headlines.

Rising inequality is the defining feature of our age. With the lion’s share of wealth growth going to the top, for a growing percentage of society a middle-class existence is out of reach. What exactly are the economic shifts that have driven the social transformations taking place in Anglo-capitalist societies? In this timely book, Lisa Adkins, Melinda Cooper and Martijn Konings argue that the rise of the asset economy has produced a new logic of inequality. Several decades of property inflation have seen asset ownership overshadow employment as a determinant of class position. Exploring the impact of generational dynamics in this new class landscape, the book advances an original perspective on a range of phenomena that are widely debated but poorly understood – including the growth of wealth inequalities and precarity, the dynamics of urban property inflation, changes in fiscal and monetary policy and the predicament of the “millennial” generation. Despite widespread awareness of the harmful effects of Quantitative Easing and similar asset-supporting measures, we appear to have entered an era of policy “lock-in” that is responsible for a growing disconnect between popular expectations and institutional priorities. The resulting polarization underlies many of the volatile dynamics and rapidly shifting alliances that dominate today’s headlines.

An investigation of the roots of the alliance between free-market neoliberals and social conservatives. Why was the discourse of family values so pivotal to the conservative and free-market revolution of the 1980s and why has it continued to exert such a profound influence on American political life? Why have free-market neoliberals so often made common cause with social conservatives on the question of family, despite their differences on all other issues? In this book, Melinda Cooper challenges the idea that neoliberalism privileges atomized individualism over familial solidarities, and contractual freedom over inherited status. Delving into the history of the American poor laws, she shows how the liberal ethos of personal responsibility was always undergirded by a wider imperative of family responsibility and how this investment in kinship obligations is recurrently facilitated the working relationship between free-market liberals and social conservatives. Neoliberalism, she argues, must be understood as an effort to revive and extend the poor law tradition in the contemporary idiom of household debt. As neoliberal policymakers imposed cuts to health, education, and welfare budgets, they simultaneously identified the family as a wholesale alternative to the twentieth-century welfare state. And as the responsibility for deficit spending shifted from the state to the household, the private debt obligations of family were defined as foundational to socioeconomic order. Despite their differences, neoliberals and social conservatives were in agreement that the bonds of family needed to be encouraged-and at the limit enforced-as a necessary counterpart to market freedom. In a series of case studies ranging from Bill Clinton's welfare reform to the AIDS epidemic and from same-sex marriage to the student loan crisis, Cooper explores the key policy contributions made by neoliberal economists and legal theorists. Only by restoring the question of family to its central place in the neoliberal project, she argues, can we make sense of the defining political alliance of our times, that between free-market economics and social conservatism.

Forms of embodied labor, such as surrogacy and participation in clinical trials, are central to biomedical innovation, but they are rarely considered as labor. Melinda Cooper and Catherine Waldby take on that project, analyzing what they call "clinical labor," and asking what such an analysis might indicate about the organization of the bioeconomy and the broader organization of labor and value today. At the same time, they reflect on the challenges that clinical labor might pose to some of the founding assumptions of classical, Marxist, and post-Fordist theories of labor. Cooper and Waldby examine the rapidly expanding transnational labor markets surrounding assisted reproduction and experimental drug trials. As they discuss, the pharmaceutical industry demands ever greater numbers of trial subjects to meet its innovation imperatives. The assisted reproductive market grows as more and more households look to third-party providers for fertility services and sectors of the biomedical industry seek reproductive tissues rich in stem cells. Cooper and Waldby trace the historical conditions, political economy, and contemporary trajectory of clinical labor. Ultimately, they reveal clinical labor to be emblematic of labor in twenty-first-century neoliberal economies.

Forms of embodied labor, such as surrogacy and participation in clinical trials, are central to biomedical innovation, but they are rarely considered as labor. Melinda Cooper and Catherine Waldby take on that project, analyzing what they call "clinical labor," and asking what such an analysis might indicate about the organization of the bioeconomy and the broader organization of labor and value today. At the same time, they reflect on the challenges that clinical labor might pose to some of the founding assumptions of classical, Marxist, and post-Fordist theories of labor. Cooper and Waldby examine the rapidly expanding transnational labor markets surrounding assisted reproduction and experimental drug trials. As they discuss, the pharmaceutical industry demands ever greater numbers of trial subjects to meet its innovation imperatives. The assisted reproductive market grows as more and more households look to third-party providers for fertility services and sectors of the biomedical industry seek reproductive tissues rich in stem cells. Cooper and Waldby trace the historical conditions, political economy, and contemporary trajectory of clinical labor. Ultimately, they reveal clinical labor to be emblematic of labor in twenty-first-century neoliberal economies.