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This lecture delves into the institutionalization of counter-culture, focusing on the commodification of counter-cultural forms. Starting with a quote by Goethe, the slides explore the subversive power of counter-culture, the aesthetics and places associated with it, and the impact of capitalism on artistic expressions. The lecture discusses the transformation of urban spaces, the emergence of cognitive capitalism, and the financialization of public policies. It also touches upon the role of art in challenging societal norms and the concept of 'enrichment' in the economy. Through case studies like LX Factory in Lisbon, the lecture examines the dynamics of alternative culture and the creation of resistant heterotopias.