Nothing to Lose But Credit Cards

The influential Spanish sociologist and network society researcher Manuel Castells paraphrased the famous quotation from Marx’ and Engels’ Communist Manifesto in a very interesting way: “Proletarians of all countries, unite! You have nothing to lose but your chains!” became a sentence about today’s citizens of Europe, “They have nothing to lose but their cancelled credit cards!”. It is an expression meant to symbolize the failure of two intermingled societal constructs: financial capitalism and consumer society. Continue reading