Financial Derivatives And The Globalization Of Risk

Financial Derivatives and the Globalization of Risk PDF Book Detail:
Author: Edward LiPuma
Publisher: Duke University Press
ISBN: 0822386127
Size: 71.49 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 224
View: 5583

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Book Description: The market for financial derivatives is far and away the largest and most powerful market in the world, and it is growing exponentially. In 1970 the yearly valuation of financial derivatives was only a few million dollars. By 1980 the sum had swollen to nearly one hundred million dollars. By 1990 it had climbed to almost one hundred billion dollars, and in 2000 it approached one hundred trillion. Created and sustained by a small number of European and American banks, corporations, and hedge funds, the derivatives market has an enormous impact on the economies of nations—particularly poorer nations—because it controls the price of money. Derivatives bought and sold by means of computer keystrokes in London and New York affect the price of food, clothing, and housing in Johannesburg, Kuala Lumpur, and Buenos Aires. Arguing that social theorists concerned with globalization must familiarize themselves with the mechanisms of a world economy based on the rapid circulation of capital, Edward LiPuma and Benjamin Lee offer a concise introduction to financial derivatives. LiPuma and Lee explain how derivatives are essentially wagers—often on the fluctuations of national currencies—based on models that aggregate and price risk. They describe how these financial instruments are changing the face of capitalism, undermining the power of nations and perpetrating a new and less visible form of domination on postcolonial societies. As they ask: How does one know about, let alone demonstrate against, an unlisted, virtual, offshore corporation that operates in an unregulated electronic space using a secret proprietary trading strategy to buy and sell arcane financial instruments? LiPuma and Lee provide a necessary look at the obscure but consequential role of financial derivatives in the global economy.

The Social Life Of Financial Derivatives

The Social Life of Financial Derivatives PDF Book Detail:
Author: Edward LiPuma
Publisher: Duke University Press
ISBN: 0822372835
Size: 48.63 MB
Format: PDF, ePub, Mobi
Category : Social Science
Languages : en
Pages : 416
View: 6863

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Book Description: In The Social Life of Financial Derivatives Edward LiPuma theorizes the profound social dimensions of derivatives markets and the processes, rituals, and belief systems that drive them. In response to the 2008 financial crisis and drawing on his experience trading derivatives, LiPuma outlines how they function as complex devices that organize speculative capital as well as the ways derivative-driven capitalism not only produces the conditions for its own existence, but also penetrates the fabric of everyday life. Framing finance as a form of social life and highlighting the intrinsically social character of financial derivatives, LiPuma deepens our understanding of derivatives so that we may someday use them to serve the public well-being.

Derivatives And The Wealth Of Societies

Derivatives and the Wealth of Societies PDF Book Detail:
Author: Benjamin Lee
Publisher: University of Chicago Press
ISBN: 022639283X
Size: 59.58 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 308
View: 753

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Book Description: The contributors to this volume draw upon their deep backgrounds in finance, the social sciences, arts, and the humanities to create a new way of understanding derivative capitalism that does justice to its technical, social, and cultural dimensions. The financial crisis of 2008 demonstrated both that derivatives are capable of producing great wealth and that their deregulation and privatization cannot control the risks that they produce. A popular reaction is to focus on the regulation or abolition of derivative finance. These authors take a different tack and instead raise the question: if we should want access to the wealth that derivatives are capable of producing, what kind of social institutions and policies would be needed to make such wealth production work for the benefit of all of us? Since this question goes to the very heart of what kind of society is most desirable, the volume argues that we need both a social understanding of the derivative and a derivative understanding of the social. The derivative reading of the social employs a small set of financial concepts to understand certain defining dimensions of contemporary reality. The central concept is that of volatility and its relations to risk, uncertainty, hedging, optionality, and arbitrage. The social reading of the derivative involves anthropological discussions of the gift, ritual, play, and performativity and provides us with frames of embodiment for analyzing, through action and event, the ways derivatives do their work.

Das Argument

Das Argument PDF Book Detail:
Author:
Publisher:
ISBN:
Size: 15.44 MB
Format: PDF, Mobi
Category : Philosophy
Languages : de
Pages :
View: 568

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Book Description:

Choice

Choice PDF Book Detail:
Author:
Publisher:
ISBN:
Size: 76.58 MB
Format: PDF, ePub, Mobi
Category : Academic libraries
Languages : en
Pages :
View: 4468

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Book Description:

Das Globalisierungs Paradox

Das Globalisierungs Paradox PDF Book Detail:
Author: Dani Rodrik
Publisher: C.H.Beck
ISBN: 3406756557
Size: 66.50 MB
Format: PDF, ePub, Docs
Category : Political Science
Languages : de
Pages : 432
View: 2112

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Book Description: Das Standardwerk zum «Trilemma der Globalisierung» - jetzt mit einem Nachwort von Professor Gabriel Felbermayr. «Dani Rodrik führt uns pointiert vor Augen, dass wir uns in einem Dreieck der Unvereinbarkeiten bewegen: Zwischen den Zielen mehr Demokratie, mehr nationale Selbstbestimmung und mehr wirtschaftliche Globalisierung gibt es keine Schnittmenge. Die Demokratie wollen und dürfen wir nicht aufgeben, die Globalisierung werden wir nicht verhindern. Die Auseinandersetzung mit Rodriks These zwingt deshalb dazu, über nationale Grenzen hinauszudenken und den Multilateralismus zu stärken.» Wolfgang Schäuble

Globalization And Economy Globalizing Finance And The New Economy

Globalization and Economy  Globalizing finance and the new economy PDF Book Detail:
Author: Paul Warren James
Publisher:
ISBN:
Size: 77.67 MB
Format: PDF, ePub
Category : Globalization
Languages : en
Pages : 422
View: 6868

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Book Description: 'Globalization and Economy' is the second set which looks at economics broadly conceived, including global markets, global finance, global economic institutions and global labour.

Die Geographie Des Zorns

Die Geographie des Zorns PDF Book Detail:
Author: Arjun Appadurai
Publisher:
ISBN: 9783518125410
Size: 13.33 MB
Format: PDF, Docs
Category : Culture conflict
Languages : en
Pages : 158
View: 5836

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Book Description:

Globalization And The Harmonization Of Law

Globalization and the Harmonization of Law PDF Book Detail:
Author: Jarrod Wiener
Publisher: Pinter
ISBN: 9781855675773
Size: 39.23 MB
Format: PDF
Category : Political Science
Languages : en
Pages : 224
View: 1884

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Book Description: Debate about globalization has raised some serious questions about the viability of the state. Jarrod Wiener argues here that there is a danger of making generalizations that the state has lost authority across a range of sovereignty issues. Concentrating on one aspect of sovereignty, that of protective jurisdiction, Wiener examines the USA and the states of the European Union as actors that are highly integrated into transnational practices, and takes international banking, money laundering, and the Internet as case studies. Wiener believes that the challenge to sovereignty from these practices comes from deregulation and liberalization of public policy, with the consequent empowerment of civil society actors who are transnationally mobile. In response, states are pursuing a two-fold strategy to assert control. The first is "domestication", which is the formulation of municipal law to control the activities of individuals and to localize control on the territory of the state. The second process is that of "harmonization" of laws across borders, which standardizes the means of controlling civil society actors.