Joshua Comaroff, "Spectropolis: The Enchantment of Capital in Singapore" (U Minnesota Press, 2025)

In Singapore, the financial center of Southeast Asia, hyperurbanization and commercial development exist alongside enduring belief in the economic power of ghosts: in their ability to control the flows of money and value and to determine the outcome of investments and wagers. Spectropolis: The Enchantment of Capital in Singapore (U Minnesota Press, 2025) explores the unlikely collusion of these two systems, demonstrating both the productive role of popular beliefs in the modern world and the surprising correlations between “late” capitalism and the workings of the spirit realm. Detailing the logic and practices of Singapore’s ghost economy—from performing exorcisms on real estate development sites to offering money and commodities to the dead as a hedge against precarious real-world transactions—Joshua Comaroff shows how speculative finance, largely governed by chance and volatility, is understood via its inherently spectral qualities. Based on detailed case studies and years of extensive fieldwork, Spectropolis argues for the power of popular belief systems to theorize contemporary socioeconomic conditions and to give form to collective affect as well as shared aspirations and anxieties, often in deeply hopeful, horizontal and empowering ways. Joshua Comaroff is the assistant professor of architecture at the National University of Singapore. He is coauthor of Horror in Architecture: The Reanimated Edition (Minnesota, 2024). Alyssa Kee recently finished graduate studies at the University of Vienna. Her research interests lie in urban geography, multispecies ecologies, and urban food assemblages. She is currently in the field of Geographical Education. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics