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Cities like Bombay—now Mumbai—have no clear place in the stories told so far that link late capitalism, globalization, post-Fordism, and the growing dematerialization of capital. Their history is uneven—in the sense made commonsensical by a certain critical tradition in Marxism. It is also characterized by disjunct, yet adjacent, histories and temporalities. In such cities, Fordist manufacture, craft and artisanal production, service economies involving law, leisure, finance, and banking, and virtual economies involving global finance capital and local stock markets live in an uneasy mix. Certainly, these cities are the loci of the practices of predatory global capital—here Mumbai belongs with Bangkok, Hong Kong, Saõ Paulo, Los Angeles, Mexico City, London, and Singapore. But these cities also produce the social black holes of the effort to embrace and
Arjun Appadurai (Fri,) studied this question.
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