Dead Pledges is the first book to explore the ways that U.S. culture—from novels and poems to photojournalism and horror movies—has responded to the collapse of the financialized consumer credit economy in 2008. Connecting debt theory to questions of cultural form, this book argues that artists, filmmakers, and writers have re-imagined what it means to owe and to own in a period when debt is what makes our economic lives possible. Encompassing both popular entertainment and avant-garde art, the post-crisis productions examined here help to map the landscape of contemporary debt: from foreclosure to credit scoring, student debt to securitized risk, microeconomic theory to anti-eviction activism. A searing critique of the ideology of debt, Dead Pledges dismantles the discourse of moral obligation so often invoked to make us repay. Debt is no longer a source of economic credibility, it contends, but is a system of dispossession that threatens the basic fabric of social life.
About the author
Annie McClanahan is Assistant Professor of English at the University of California, Irvine.
"In a series of nuanced yet militant readings, McClanahan makes an incisive case for the centrality of the political economy of debt to contemporary art, culture, and politics. Dead Pledges is a powerful contribution to cultural and social theory that advances the debate over capital and its representations, a debate of vital importance to economic thought, artistic practice, and political action."
—Alberto Toscano, Goldsmiths, University of London
"Dead Pledges offers an exemplary demonstration of how literary and cultural analysis can address urgent social and political problems. A timely work of critical debt theory, it is poised to reshape the transdisciplinary debates around debt and contemporary capitalism."
—Richard Dienst, Rutgers University
"McClanahan's argument is developed in part through readings of photographs of foreclosed homes and their landscapes, where in the moment of debt crisis the antisociality of (or our alienation from) property as a commodity comes to the fore. Dead Pledges brilliantly brings this antisociality home in its final chapter, which examines how housing and foreclosure have become a site of terror in contemporary horror films...McClanahan's most important contribution is how she brings out the dark side of the debt economy and crisis; that is, her attention to the hollow subjects and hostile objects that now populate our worlds. Dead Pledges illuminates the forms of structural coercion and social violence that accumulate around us, like wreckage no longer blown forward by any wind of progress."
—Brian Whitener, The New Inquiry