“If you want to damn a man, teach him how to count.”
Eric (Ken Leung)
Sharp Satire and Marxist Themes
Now in its third season, Industry has become a ratings success for the BBC. The title is undoubtedly ironic, as the antics of these traders are as far removed from a traditional factory as possible. The series epitomises fictional capital, characteristic of what we hope is late capitalism—a finance sector that resembles people betting on market movements. Although some apologists may attempt to justify it economically—by forcing out inefficient companies and directing resources to growth areas—it is exceedingly hard to see the merit in these arguments.
Never has a series, in my opinion, better expressed the Marxist idea that people are the bearers of the social and economic structures they inhabit. We follow these traders whose entire careers and often their emotional lives are dictated by their profit/loss (P&L) books. If their deals make money for the bank over the year, they receive a lucrative bonus that eclipses their actual salaries. Conversely, if they lose money, they are dismissed.
The total alienation inherent in capitalist social relations is vividly portrayed—there is no loyalty, no friendship, and no genuine teamwork among these traders. If maintaining a buoyant P&L book necessitates it, colleagues will be stabbed in the back and front. Alliances shift from one moment to the next, a dynamic that Industry captures perfectly—proving that even political parties can’t compete with this level of betrayal.
The Illusion of Market Mastery and Greenwashing
Multiple instances in the series reveal how the mythology surrounding refined market analysis collapses when sudden changes in currency prices or interest rate variations occur. Simultaneously, these individuals claim to be masters of the markets when, in reality, they are slaves to its irrationality. Sometimes, sheer force of will—expressed in very macho terms like “I am a man and I am relentless”—is invoked as a means to outcompete rivals and navigate the market. A standout scene features the main manager screaming to his team that it’s all about perception and how they, as traders, can create perceptions. The disconnection from the real economy is almost total, though not entirely, as these companies channel vast sums of money that affect our lives through, for example, excessive rises in interest rates.
Series three shifts its focus from Harper, the standout character of the first two series played by Myha’la, a black American upstart from the other side of the tracks who manoeuvres her way into the business with intelligence and risk-taking that both hurt and reward her. Now, the spotlight is on Yasmin (Marisa Abela), the scion of a super-rich family who has never wanted for anything, and her fellow working-class trader Rob (Harry Lawtey). They are involved in launching a new ‘green’ energy company.
We might term it greenwashing, but it has become endemic in the sector, driven mainly by government pressure and public opinion. As the series progresses, anti-green interests eventually prevail. The vast sums of money spent by the fossil fuel industry to promote a greener image are mirrored accurately in the drama. Creators Mickey Down and Konrad Kay, with their finance experience, offer a critical perspective. Episode by episode, we witness how the law of value trumps green initiatives.
Women in Finance and Real-World Reflections
A notable feature of the show is the prominent role of women. Yasmin and Harper continue to dominate, but we also see women owning and managing their own hedge funds. According to my sources in the City, this accurately reflects changes over the past twenty years. However, these women are no more loyal or less treacherous than their male counterparts. Harper, in particular, is steely—stating at one point, “I just see opportunities or obstacles and don’t worry about anything else.”
All the financial action and backstabbing are heightened by drug use and sex. Yasmin is at the centre of much of this. Her final, hard-nosed return to a life of luxury feels authentic. No character in the drama has a balanced, unselfish, or emotionally rich relationship, suggesting our tendency to become commodified and alienated under capitalism, especially in environments where substantial rewards are available.
Mirroring actual events in the real world enhances the show’s meaningfulness beyond fictional escapism—references to Ukraine and the energy crisis, the collapse of small energy providers, and the Truss budget disaster are all evident. I was disappointed that one of Harper’s boyfriends, who made critical comments about the system early in the series, disappears. He could have served as a useful character to make some of the implicit system criticisms more explicit.
Overall, Industry remains enjoyable and remarkably critical for a peak-time, high-cost drama. Let’s hope for a fourth series with Harper back in New York.
“Money is harmony, money is happiness.”
Eric
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