Capitalism with derivatives: a political economy of financial derivatives, capital and class
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Basingstoke u.a.
Palgrave Macmillan
2006
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Contributor biographical information Publisher description Table of contents Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references (p. 215-236) and indexes |
| Physical Description: | viii, 236 S. 23 cm |
| ISBN: | 1403936455 9781403936455 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Contents
Acknowledgements viii
1 Introduction 1
What is at issue? 6
So what are derivatives? 10
... And why are derivatives so important? 12
How are these issues addressed? 14
Parti Derivatives as Capital 17
2 A New Perspective on the Role of Finance 19
The economics of money and finance: the need for
new agendas 21
Social sciences: new era explanations of finance 24
Derivatives as a universal measure 35
Conclusion 37
3 Derivatives and Derivative Markets 39
Defining derivatives 40
Commodity derivatives 41
A new role for derivatives 48
Out from the margins 54
The challenge of derivatives 60
Defining derivatives (refrain) 64
Conclusion 65
4 From the Joint Stock Company to Financial Derivatives 68
A new expression of capital 69
Capital and ownership: three degrees of separation 71
The joint stock company 77
Financial derivatives 89
Conclusion 10°
Part II Derivatives and International Finance 103
5 Anchoring the Global Financial System 105
National currencies and global money: the policy trilemma 106
V
vi Contents
Early commodity money: the Gold Standard and its
contradictions 108
The Bretton Woods regime 112
After Bretton Woods: the return to floating exchange rates 118
Floating exchange rates then and now 121
The search for a fundamental value of global money 124
Evidence of the fundamentals : asset pricing
and exchange rate theories 126
Derivatives anchoring the global financial system 130
Conclusion 133
6 New, Global, Capitalist Money 135
What is at issue? 135
Money as a social relation 139
Money and the nation state: unstated Keynesian
presumptions 143
Money beyond the false juxtaposition between markets
and state 150
Derivatives as commodity money 153
Conclusion 155
Appendix 6.1: a Marxian interpretation of financial
derivatives as commodity money 156
7 Global Competition 162
Competition: a contested concept 163
Capital with many meanings 165
Competition and the circuit of capital 168
A problem of continuity in the circuit: what about
time and space? 171
Rethinking competition 173
Conclusion 174
Part III Debating Derivatives 177
8 Speculation, Derivatives and Capital Controls 179
Clarifying the case against derivatives 180
Differentiating threats 186
The Tobin tax 188
National agendas for social change: are capital
controls a priority? 192
Conclusion 196
Appendix 8.1: speculation, derivatives and money 197
Contents vii
9 Derivatives and the Development of Capitalist Relations 203
Deregulation and reregulation 204
Derivatives role in regulation 207
Derivatives as the model of the future 210
Conclusion 213
References 215
Index 230
i
|
| adam_txt |
Contents
Acknowledgements viii
1 Introduction 1
What is at issue? 6
So what are derivatives? 10
. And why are derivatives so important? 12
How are these issues addressed? 14
Parti Derivatives as Capital 17
2 A New Perspective on the Role of Finance 19
The economics of money and finance: the need for
new agendas 21
Social sciences: 'new era' explanations of finance 24
Derivatives as a universal measure 35
Conclusion 37
3 Derivatives and Derivative Markets 39
Defining derivatives 40
Commodity derivatives 41
A new role for derivatives 48
Out from the margins 54
The challenge of derivatives 60
Defining derivatives (refrain) 64
Conclusion 65
4 From the Joint Stock Company to Financial Derivatives 68
A new expression of capital 69
Capital and ownership: three degrees of separation 71
The joint stock company 77
Financial derivatives 89
Conclusion 10°
Part II Derivatives and International Finance 103
5 Anchoring the Global Financial System 105
National currencies and global money: the policy trilemma 106
V
vi Contents
Early commodity money: the Gold Standard and its
contradictions 108
The Bretton Woods regime 112
After Bretton Woods: the return to floating exchange rates 118
Floating exchange rates then and now 121
The search for a fundamental value of global money 124
Evidence of 'the fundamentals': asset pricing
and exchange rate theories 126
Derivatives anchoring the global financial system 130
Conclusion 133
6 New, Global, Capitalist Money 135
What is at issue? 135
Money as a social relation 139
Money and the nation state: unstated Keynesian
presumptions 143
Money beyond the false juxtaposition between markets
and state 150
Derivatives as commodity money 153
Conclusion 155
Appendix 6.1: a Marxian interpretation of financial
derivatives as commodity money 156
7 Global Competition 162
Competition: a contested concept 163
Capital with many meanings 165
Competition and the circuit of capital 168
A problem of continuity in the circuit: what about
time and space? 171
Rethinking competition 173
Conclusion 174
Part III Debating Derivatives 177
8 Speculation, Derivatives and Capital Controls 179
Clarifying the case against derivatives 180
Differentiating 'threats' 186
The Tobin tax 188
National agendas for social change: are capital
controls a priority? 192
Conclusion 196
Appendix 8.1: speculation, derivatives and money 197
Contents vii
9 Derivatives and the Development of Capitalist Relations 203
'Deregulation' and 'reregulation' 204
Derivatives' role in regulation 207
Derivatives as the model of the future 210
Conclusion 213
References 215
Index 230
i |
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| illustrated | Not Illustrated |
| index_date | 2024-07-02T14:55:41Z |
| indexdate | 2024-07-09T20:40:15Z |
| institution | BVB |
| isbn | 1403936455 9781403936455 |
| language | English |
| lccn | 2005051550 |
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| physical | viii, 236 S. 23 cm |
| publishDate | 2006 |
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| spelling | Bryan, Dick Verfasser aut Capitalism with derivatives a political economy of financial derivatives, capital and class Dick Bryan and Michael Rafferty 1. publ. Basingstoke u.a. Palgrave Macmillan 2006 viii, 236 S. 23 cm txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references (p. 215-236) and indexes Derivative securities Risk management Derivat Wertpapier (DE-588)4381572-8 gnd rswk-swf Derivat Wertpapier (DE-588)4381572-8 s DE-604 Rafferty, Michael Verfasser aut http://www.loc.gov/catdir/enhancements/fy0625/2005051550-b.html Contributor biographical information http://www.loc.gov/catdir/enhancements/fy0625/2005051550-d.html Publisher description http://www.loc.gov/catdir/enhancements/fy0625/2005051550-t.html Table of contents HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014842161&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Bryan, Dick Rafferty, Michael Capitalism with derivatives a political economy of financial derivatives, capital and class Derivative securities Risk management Derivat Wertpapier (DE-588)4381572-8 gnd |
| subject_GND | (DE-588)4381572-8 |
| title | Capitalism with derivatives a political economy of financial derivatives, capital and class |
| title_auth | Capitalism with derivatives a political economy of financial derivatives, capital and class |
| title_exact_search | Capitalism with derivatives a political economy of financial derivatives, capital and class |
| title_exact_search_txtP | Capitalism with derivatives a political economy of financial derivatives, capital and class |
| title_full | Capitalism with derivatives a political economy of financial derivatives, capital and class Dick Bryan and Michael Rafferty |
| title_fullStr | Capitalism with derivatives a political economy of financial derivatives, capital and class Dick Bryan and Michael Rafferty |
| title_full_unstemmed | Capitalism with derivatives a political economy of financial derivatives, capital and class Dick Bryan and Michael Rafferty |
| title_short | Capitalism with derivatives |
| title_sort | capitalism with derivatives a political economy of financial derivatives capital and class |
| title_sub | a political economy of financial derivatives, capital and class |
| topic | Derivative securities Risk management Derivat Wertpapier (DE-588)4381572-8 gnd |
| topic_facet | Derivative securities Risk management Derivat Wertpapier |
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