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The economic iceberg

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The iceberg is an economic representation we use in our action research projects to stimulate conversations about ‘the economy.’ This image is one way of illustrating that what is usually regarded as ‘the economy’—wage labor, market exchange of commodities and capitalist enterprise—comprises but a small subset of the activities by which we produce, exchange and distribute values. It honors and prompts into expression our common knowledge of the multifarious ways in which all of us are engaged in economic activity. It opens up conceptions of economy and places the reputation of economics as a comprehensive and scientific body of knowledge under critical suspicion for its narrow focus and mystifying effects.

Everyday people in everyday places (which really just means anyone who is not an economic theorist or researcher) are the principal co-conversants we are engaged with in rethinking economy through action research. What’s at stake in these conversations is who and what is seen to 1) constitute the economy and 2) contribute to economic development.

In the submerged part of the iceberg we see a grab bag of activities, sites and people. The chaotic, laundry list aspect has an inclusive effect—it suggests an open-ended and ultimately arbitrary process of categorization. Conversations we’ve had around what to include in an expanded representation of the economy range from a discussion of putting on makeup in the morning (seen as necessary for the performance of a worker identity and thus as ‘work’) to considerations of the community-building effect of giving.


Author
J.K.Gibson-Graham

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