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The magic of making money: A cultural flow perspective on profit
Author(s) -
Urban Greg
Publication year - 2016
Publication title -
anthropology today
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.419
H-Index - 24
eISSN - 1467-8322
pISSN - 0268-540X
DOI - 10.1111/1467-8322.12313
Subject(s) - magic (telescope) , ethnography , profit (economics) , sociology , epistemology , aesthetics , economics , positive economics , neoclassical economics , philosophy , anthropology , physics , quantum mechanics
Conceptualized in terms of rational calculation and market logic, entrepreneurship appears as a straightforward matter of reckoning risks and rewards, assessing the prospects for profit. When viewed through an ethnographic lens, however, more mysterious – even ‘magical’ – aspects come into focus. This article explores the magical aspects through three case studies, each revealing a distinct process: symbolic efficacy, the conversion of words into things, and the ability to peer into the future. While exposing these otherwise hidden aspects, the article simultaneously explores a view of profit as arising from the capture – in different ways – of freely flowing, non‐commoditized culture. The entrepreneur taps into cultural flows that are propelled by the force of interest, and, by capturing the flows, turns the culture into commodities capable of yielding profit. In these cases we glimpse the truth of Marcel Mauss's claim many years ago: ‘Though we may feel ourselves to be very far removed from magic, we are still very much bound up with it’ (Mauss 1972: 178).