Derivatives were responsible for one of the worst financial meltdowns
in history, one from which we have not yet fully recovered. However,
they are likewise capable of generating some of the most incredible
wealth we have ever seen. This book asks how we might ensure the
latter while avoiding the former. Looking past the usual arguments for
the regulation or abolition of derivative finance, it asks a more
probing question: what kinds of social institutions and policies would
we need to put in place to both avail ourselves of the derivative’s
wealth production and make sure that production benefits all of us?
To answer that question, the contributors to
this book draw upon their deep backgrounds in finance, social science,
art, and the humanities to create a new way of understanding
derivative finance that does justice to its social and cultural
dimensions. They offer a two-pronged analysis. First, they develop a
social understanding of the derivative that casts it in the light of
anthropological concepts such as the gift, ritual, play, dividuality,
and performativity. Second, they develop a derivative understanding of
the social, using financial concepts such as risk, hedging,
optionality, and arbitrage to uncover new dimensions of contemporary
social reality. In doing so, they construct a necessary, renewed
vision of derivative finance as a deeply embedded aspect not just of
our economics but our culture.
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Produktdetaljer
ISBN
9780226392974
Publisert
2018
Utgave
1. utgave
Utgiver
Vendor
University of Chicago Press
Språk
Product language
Engelsk
Format
Product format
Digital bok