Financial Derivatives and the Globalization of Risk eBook
$18.00
. The market for financial derivatives is far and away the largest and most powerful market in the world, and it is growing exponentially.
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About this eTextbook
. 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.
ISBNs for Financial Derivatives and the Globalization of Risk are 9780822386124, 0822386127 and the print ISBNs are 9780822334187, 0822334186. Additional ISBNs include 9780822334071.
Publication details
- Author: Benjamin Lee; Edward LiPuma
- Publisher: Duke University Press Books
- Additional ISBN: 9780822334071
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About this eTextbook
. 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.
ISBNs for Financial Derivatives and the Globalization of Risk are 9780822386124, 0822386127 and the print ISBNs are 9780822334187, 0822334186. Additional ISBNs include 9780822334071.
Publication details
- Author: Benjamin Lee; Edward LiPuma
- Publisher: Duke University Press Books
- Additional ISBN: 9780822334071
What you receive
- A licensed digital edition of this title, supplied as PDF or EPUB. The format is set by the publisher, so email us the ISBN before ordering and we will confirm which one it is.
- Delivered to the email address on your order as a secure download link, usually within minutes and always within 24 hours of payment.
- Download links do not expire and there is no cap on re-downloads. Readable on any computer, tablet or phone, online or offline.
- This is a digital edition. Nothing is printed, packed or posted, and there is no delivery charge.
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