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In 2010, the editor of n+1 magazine, Chad Harbach, famously wrote that there were two distinct and rival literary cultures in America: the institutional, university-driven M.F.A. track and the New York–centered publishing world. But now there is a third option: the fast-paced, democratizing, hyper-connected culture of the internet. The poets of this third category often have little formal training, and their publishers are strewn across the country. Andrews McMeel, for instance, is an indie publisher in Missouri. Social media seem to have cracked the walls around a field that has long been seen as highbrow, exclusive, esoteric, and ruled by tradition, opening it up for young poets with broad appeal, many of whom are women and people of color.

Social-media poets, using Instagram as a marketing tool, are not just artists—they’re entrepreneurs. They still primarily earn money through publication and live events, but sharing their work on Instagram is now what opens up the possibility for both. Kaur, the ultimate poet-entrepreneur, said she approaches poetry like “running a business.” A day in the life can consist of all-day writing, touring, or, perhaps unprecedented for a poet, time in the office with her team to oversee operations and manage projects.

Finance is an essential component of industrial change because it allows technologies to be developed before they can generate a return. But if finance no longer serves industrial change but instead prioritizes rent-seeking (seeking to increase its share of existing wealth without creating new sources of wealth), creative destruction of the present carbon-intensive industrial system cannot occur. The aim of this article is to investigate this issue through a study of the emergence of one low-carbon industry, solar photovoltaics (PV) in the United States. The focus is on the period after the first oil shock in 1973 until the end of the 1980s. The case is contrasted with the more successful development of the industry in Japan. In the late 1970s, American firms held 90% of the global market share; by 2005, it had declined to under 10%, whereas the Japanese share had risen to almost 50% (9). Changes to corporate governance and organization brought by financialization are identified as major causes of the difference in outcome.

One camp consisted of a small number of entrepreneurs who had been involved in producing solar cells for the space program or pioneered their application on Earth.

The other camp consisted of the energy policy bureaucracy and closely affiliated large manufacturing and energy corporations along with utilities (65).