Catherine Chaput’s Market Affect and the Rhetoric of Political Economic Debates places an affective and rhetorical emphasis on the vexatious question that she argues plagues the academic Left: Why is the capitalist mode of production so much more successful than its alternatives? Capital’s hegemony, the book argues, stems from its foundational theorists’ capacity to adroitly articulate the public’s bodily affects toward its regime of private property and wage labor. By contrast, its critics, be they revolutionary or reformist, are caught in a series of rhetorical traps or oversights that neglect the affective dimensions of capital, and hence are incapable of mobilizing effective (and affective) countermovements. She writes, “The market is an affective force that influences rhetorical action by linking bodily receptivities to economic persuasion. The market feels real because it is the nominalization we give to the very real affective energies circulating throughout our lived experiences” (2). To prove this claim, Chaput carefully pairs four sets of historical thinkers, in which a proponent of the capitalist mode of production is pitted against a critic thereof. With few exceptions, the thinker allied with the capitalist mode of production emerges victorious, for they are more adept at linking these unsymbolized/unarticulated bodily affects to the mode of production’s acceptable means of expression.Prior to the main event, Chaput first reviews how affect has been underthought or misconceived in the materialist tradition and traces a critical genealogy of affect from within the rhetorical tradition as a corrective. Via readings of Ancient and Renaissance thinkers, for whom “the passions [are] coextensive with the rational and understanding both as simultaneously embodied and transembodied” (23), Chaput advocates an affective materialism that aims to suture the noncognitive, the bodily, and the social to the realms of rhetoric, symbolic influence, and ideology. Chaput accomplishes this methodologically by proposing a schema for assessing the “materiality of affect and its rhetorical significance” (36) with rhetorical inputs and material outputs. For instance, rhetorical frequency and repetition lead to “push or pull identification,” which “shapes ideological context,” while “volume/intensity” raises or lowers affective energy, which then “motivates action or inaction” (37). Chaput returns to this framework occasionally in later chapters to demonstrate what makes certain authors more effective than others at channeling resonances between bodies and private property.Chapters 2 through 5 constitute the bulk of the book, in which Adam Smith / Karl Marx, John Maynard Keynes / Thorstein Veblen, Friedrich Hayek / Theodor Adorno, and Milton Friedman / John Kenneth Galbraith are read both on their own terms and through the lens of affect, and I commend Chaput for providing a perspicacious reading of each thinker. Chapter 2, wherein Smith and Marx are pitted against one another, is the heart of the argument, from which every other chapter’s assessment flows. In Chaput’s reading, because Smith’s concept of sympathy, generated from The Theory of Moral Sentiments, is “a richer, perhaps intuitive, understanding of the physiological work of affect” (42), arguments in favor of the capitalist mode of production are more likely to be successful than criticisms thereof. Echoing the schema described above, Chaput writes, “The Wealth of Nations illuminates an affective structure that motivates capitalism such that market freedom opens one’s receptivity to capitalism, while participation pulls toward particular identifications within the system and the supply and demand of exchange mobilizes the fluctuating energies of specific actions” (53).In contrast, Marx’s diagnoses of the capitalist mode of production bend the opposite direction: “For Marx, capitalism closes people off, making them less and less receptive to social potentialities; it repels or pushes away identities other than capitalist and worker; it depletes life energy of both identities, making them caricatures of capital” (57). Chaput reads Marx’s early writings on alienation as also implicitly theorizing affect, but because Marx was committed to a critique of political economy (rather than an affirmative case for it), his account is hopelessly impoverished when put alongside the thinker writing several decades prior. She writes, “Smith’s affect theory, which leaves its ultimate origins to the mythical invisible hand, trumps Marx’s affective account, which requires not natural instincts but arduous propositional thinking and scientific reason, forcing a reconsideration of critical political economic theory” (60). From this point on, the die is cast. Smith’s rhetoric of sympathy, freedom, natural instinct, and the invisible hand renders bodies conducive to wage labor; his expansive, positive affects triumph over Marx’s decision to emphasize capital’s dehumanizing and divisive qualities.Chapter 3, on Keynes and Veblen, poses two reformists against one another and is the only matchup that could be scored a draw. Because both thinkers “suffer from an inflated valuation of rationality” (85), Chaput concludes that their persuasive power is weakened, “and thus the receptivity of these thinkers” (86). Despite the fact that Keynes draws the public’s attention to the “animal spirits” that systematically throw off financial markets, and the fact that investors make decisions off of second-order rationality and not on the value of assets themselves, resulting in “mass affective practices untethered to concrete material realities” (80), his endorsement of deliberation, regulation, and probabilistic thinking as a palliative dooms his work. Yet it seems to me that Keynes’s fatal flaw for Chaput is his skepticism of neoclassical economics’ concept of equilibrium, or the supposedly natural functions that balance out supply and demand: “Emphasizing that equilibrium cannot be taken for granted, Keynes offers an inefficient version of affective identification as he relies too much on persuasion and not enough on the human capacity to synergistically combine around similar experiences” (79). Arguments that presume that exchange is “natural, inevitable, and perfect” are the more efficient case for readers, and thus, once again, the capitalist mode of production triumphs discursively.If the Smith/Marx dyad is the pediment upon which the book’s argument rests, the Hayek/Adorno dyad, in chapter 4, acts as its symbolic button-tie. (Historical events occur twice, as Hegel, via Marx, reminds us.) Here, Chaput generously reads Hayek’s work as emblematizing a sophisticated concept of affect that joins together arguments in favor of the capitalist mode of production to the bodies that experience it. For Chaput, Hayek’s invocation of cognitive psychology counts as scientific proof of Smith’s intuitions surrounding sympathy and the invisible hand: “Adding cognitive psychology to Smith’s theory of moral connectivity, Hayek replaces sympathy with disposition and refines morality as political and economic liberalism” (94). Tracing the complexities of Hayek’s thought through his notions of language, of social order, and of human cognition, Chaput affirms that it is his capacity to blend the cognitive and the noncognitive in a story that renders economic liberalism more conducive to bodies than alternatives. In contrast, Adorno’s relentless negative dialectics, a ruthless criticism of everything existing, and the claim that his “body of work appears to attack people as unthinking” condemns his life’s work to a distant second place in this rhetorical matchup (112). In Chaput’s account, by asserting the moral value of economic liberalism and championing (rather than castigating) human ignorance in the face of enormous social and economic complexity, Hayek’s work completes a flawless victory over Adorno’s. Chaput concludes that this rhetorical triumph “set the path for the practical economic work of the late twentieth century and, ultimately, for the triumph of neoliberalism” (112).Chapter 5, in which Chaput sets two public figures of “the economic” against one another, Milton Friedman emerges victorious over John Kenneth Galbraith, but for a surprising set of reasons. Chaput’s overarching thesis is stretched to its limit in this chapter, for Chaput locates in Friedman’s relentless privileging of human beings’ capacity for rational economic behavior (and equally importantly, insisting that economists must interpret human behavior as if it were rational), a sublation, rather than a repudiation, of Hayek’s affect theory (117). Meanwhile, despite Galbraith, a bleeding-heart reformist and critic of unrestrained capital accumulation, arguing that corporations move individuals and the socius at the level of affect, his account is paltry in comparison because he cannot affirmatively endorse the positive affects that the capitalist mode of production generates in the production process. She writes that he “offers no energetic replacement for these negative affective situations” (120) and, later, that “Galbraith cannot theorize this identification [with corporations] as the embodied energy circulating among and thereby animating these employees and their projects” (121). And once again, much like Keynes, because Galbraith’s solution to corporate capture of the American political system is to encourage deliberative democracy, he is doomed to failure for naïvely adhering to a logic of representation that capitalist affects can overcome, divert, or recode.Those who have read thus far may be in a state of despair: not only is capital dominant, but it is persuasive, and not simply at the cognitive level. By describing procapitalist theorists’ ability to better articulate “the physiological energies inhabiting the world” (4), the capitalist mode of production is a resounding success—discursively, affectively, bodily. Every key thinker from Adam Smith onward better articulates affect, the “physical power that moves seemingly uncontrollably through human beings and other things to produce preconscious readiness” (33), toward capital’s contemporary dominance. But for those predisposed to a Foucauldian perspective, Chaput’s conclusion promises succor. Here, Chaput reads Foucault’s lectures, which focus on ethopoetic behavior and parrhesiastic speech, as a potential site of anticapitalist agency through “the cultivation of a critical subjectivity with the capacity for reflexive truth-telling” (150). From Foucault’s consent “to Smith’s explanation of the market as an ordering mechanism that exceeds full human understanding” and because he accepts “the invisible hand as a real power” (144), only the free individual, the parrhesiastic rhetor, can constitute a meaningful counter-power to the capitalist mode of production.For Foucault, “mental exercises designed to create free individuals—ones capable of assessing, mobilizing, and reorienting the fleshy impulses of their experience in the world” (151)—are vital to producing good parrhesia (rather than bad parrhesia, which acts on unearned certainty). Here, Chaput conveys Foucault’s suggestion that subjects sleep on a pallet, wear coarse clothes, eat little, drink only water, and play affectionately with one’s child while reciting the truth that this beloved individual will die (151–52). Only through cultivating this form of the self can the parrhesiastic rhetor speak disruptive truths such that the genuinely new can emerge.The turn to late-period Foucault may be unsatisfying to a reader who seeks nonindividualized remedies to the cascading inequalities and catastrophes that capitalism unleashes. Chaput frequently sets up binary oppositions (reason/passion, science/sympathy, cognitive/noncognitive) in which the procapitalist position carries the day, but a collective/individual binary is left unremarked upon. Because Chaput locates affective harmonics within discrete bodies (and crucially for her argument, bodies capable of coming to reasonable conclusions about the merits of the capitalist mode of production), individual bodies are prioritized over their being-in-concert. Take the assessment of Galbraith’s work: “Not surprisingly, Galbraith theorizes how corporations—and other large organizations—use identification to compel individuals but does not offer a productive counter-power for individual agents” (120). Despite noting that even for Foucault the invisible hand is “a manufactured ontology” designed to coordinate bodies in spaces as if they were rational economic agents, it is only sympathetically driven actors of “civil society” that can become an effective counter-power to capital’s hegemony (149).Ironically, Foucault’s insight, that what we call spontaneous order or natural inclination is manufactured, rather than discovered, ought to draw our attention to the rhetorical dimensions of each reconsidered thinker. Here, I wonder whether Chaput need have committed to a single through line, from Smith onward, as a process of discovering the unseen affective forces that sympathetically bond bodies, and not a story with rhetorical hinge points on how affect is theorized. Hayek’s role as a master-signifier would then work in two directions: First, his rhetorical interventions retroactively alter our perceptions of Smith’s own work, such that we cannot but help see him as incipiently Hayekian. Second, once a Hayekian vision of the social bond is secured, procapital rhetors need not agree on the importance of affect, sympathy, spontaneous order, and so on, to be rhetorically effective. This would help better ground the Friedman chapter, for as written, his rational choice theory, and dismissal of affect, is narrated as confirmation and not a rejection of Hayek’s position (118). By making Hayek’s monumentality central to the overall argument, it opens space for how scholars must navigate the politics of reading itself, how certain signifiers become ineluctable. This would also explain more precisely how one master-signifier, the assemblage we call “Keynes” or “Keynesianism,” functioned as the dominant mode of capitalist expression for nearly four decades, and precisely how it was thoroughly superseded by another signifying regime.Finally, Chaput devotes space in both the introduction and conclusion to the work of Dana Cloud, whose materialist commitment to ideological demystification and consciousness raising is (along with other Marxists, like James Arnt Aune) characterized as “futile” (18), and whose failure to “acknowledge affect as a semiautonomous ontology motivating our bodily instincts” renders her approach insufficient to the task of rewriting capitalist affects (159). Yet Cloud’s own 2018 work, Reality Bites: Rhetoric and the Circulation of Truth Claims in U.S. Political Culture, acts as a counterpart to Chaput’s. Cloud agrees that liberal approaches to capital-T Truth are feeble in the face of capital’s stranglehold on the enthymemes that organize our embodied common sense; she similarly agrees that “affect” and “embodiment” are necessary—as is struggle (51). I encourage readers to put these works in conversation with one another, for they locate similar lacunae in our thought, but conceive of the source and solutions thereto differently.Market Affect exemplifies the kind of intervention that a rhetorically attuned scholar can bring to pressing political-economic debates; I commend the work for both letting the chosen thinkers speak on their own terms and considering the status of affect in each. The book’s thesis is admittedly provocative: it upends much materialist social history by foregrounding the affective dimensions of procapitalist writing as that which explains the mode of production’s enormous success. Future critical work that resides in the intersections of rhetoric, affect, materialism, and economics must engage with the implications of this move, and rigorously inquire exactly when, where, and, crucially, for whom this case can be proven as true. Chaput also contributes methodologically to the field of affect theory by enjoining scholars to focus not just on the “physiological energies” that circulate among bodies, but through their representations in consequential writings; Adam Smith and Friedrich Hayek are welcomed into the ranks of affect theory scholars via this avenue. Scholars interested in this reconsideration now have a treasure trove of thoughtful interpretations of the most consequential thinkers in modern history (the readings of Marx, Hayek, and Adorno do deserve special mention). And as mentioned, rhetorical scholars eager for a Foucauldian political intervention will find the conclusion especially edifying, for she reads Foucault’s late work as fundamentally concerned with a rhetorical problem space. Finally, scholars ought to test Chaput’s models of affective circulation and rhetorical interpretation in future scholarship, in particular her claim that repetition, timbre, and “volume and intensity” have definable and predictable affective outcomes that influence action (37). It is a reminder to rhetoricians that we must listen as carefully as we read. As affect appears to increasingly dominate our understandings of how capital functions, this is an exciting time for inquiry on economics and the economy, and this is a powerful contribution from a notable scholar.