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Fluctus non fructus. Über Liquiditätsprobleme der Moderne
Alloa takes a look at the historically changing dynamics of a metaphorical use of fluidity in the context of economic history, when he examines the prehistory of the term Liquid Modernity coined by Zygmunt Baumann. It is fitting that the maritime powers of the early modern period contributed significantly to the acceleration of a flow of capital kept in motion for the sake of its yield, and it is probably no coincidence that accomenda and double-entry bookkeeping were invented in Venice and the first joint-stock company for maritime trade (VOC) in Amsterdam. Economic rationality cannot be disentangled from moral discourses though: while some argue that investments are necessary for humanity to flourish, others invoke theological arguments from the Church Fathers such as Ambrosius, who famously argued that money doesn’t resembles the fruit but rather the maritime tides (fluctus non fructus); it constantly flows back and forth, and never allows to grow.
