The Global Minotaur

Author: Yanis Varoufakis
Publisher: Zed Books
ISBN: 9781780320144
Size: 37.17 MB
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The Global Minotaur from the Author: Yanis Varoufakis. In this remarkable and provocative book, Yanis Varoufakis explodes the myth that financialization, ineffectual regulation of banks, greed, and globalization were the causes of the global economic crisis. Rather, they are symptoms of a much deeper malaise which can be traced back to the 1970s; the time when a "Global Minotaur" was born. Just as the Athenians maintained a steady flow of tributes to the Cretan beast, so the "rest of the world" sent incredible amounts of capital to America and Wall Street. Thus, the Global Minotaur became the 'engine' that pulled the world economy from the early 1980s to 2008. Today's crisis in Europe, the heated debates about austerity versus further fiscal stimuli in the US, and the clash between China's authorities and the Obama administration on exchange rates are the inevitable symptoms of the weakening Minotaur, evidence of a global "system" which is now as unsustainable as it is imbalanced. Going beyond this, Varoufakis lays out the options available to us for reintroducing a modicum of reason into a highly irrational global economic order. This is an essential account of the socio-economic events and hidden histories that have shaped the world as we now know it.

The Global Minotaur

Author: Yanis Varoufakis
Publisher: Zed Books Ltd.
ISBN: 1783606126
Size: 54.56 MB
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The Global Minotaur from the Author: Yanis Varoufakis. 'The emerging rock-star of Europe's anti-austerity uprising.' Daily Telegraph 'A spirited book.' New Yorker In this remarkable and provocative book, Yanis Varoufakis, former finance minister of Greece, explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the root causes of both the Eurozone crisis and the global economic crisis. Rather, they are symptoms of a much deeper malaise which can be traced all the way back to the Great Crash of 1929, then on through to the 1970s: the time when a Global Minotaur was born. Today's deepening crisis in Europe is just one of the inevitable symptoms of the weakening Minotaur; of a global system which is now as unsustainable as it is imbalanced. Going beyond this, Varoufakis reveals how we might reintroduce a modicum of reason into what has become a perniciously irrational economic order. An essential account of the socio-economic events and hidden histories that have shaped the world as we now know it.

The World Scientific Handbook Of Futures Markets

Author: Anastasios G Malliaris
Publisher: World Scientific
ISBN: 9814566934
Size: 62.98 MB
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The World Scientific Handbook Of Futures Markets from the Author: Anastasios G Malliaris. ' The World Scientific Handbook of Futures Markets serves as a definitive source for comprehensive and accessible information in futures markets. The emphasis is on the unique characteristics of futures markets that make them worthy of a special volume. In our judgment, futures markets are currently undergoing remarkable changes as trading is shifting from open outcry to electronic and as the traditional functions of hedging and speculation are extended to include futures as an alternative investment vehicle in traditional portfolios. The unique feature of this volume is the selection of five classic papers that lay the foundations of the futures markets and the invitation to the leading academics who do work in the area to write critical surveys in a dozen important topics. Contents:Introduction:Futures Markets: An Overview (Anastasios G Malliaris and William T Ziemba)Classical Contributions:Proof that Properly Anticipated Prices Fluctuate Randomly (Paul A Samuelson)The Variation of Certain Speculative Prices (Benoit Mandelbrot)Commodity Futures Prices: Some Evidence on Forecast Power, Premiums, and the Theory of Storage (Eugene F Fama and Kenneth R French)Volume and Volatility in Foreign Currency Futures Markets (Ramaprasad Bhar and A G Malliaris)The Strategic and Tactical Value of Commodity Futures (Claude B Erb and Campbell R Harvey)Institutions: New Invited Papers:Central Counterparty Clearing and Systemic Risk Regulation (Robert S Steigerwald)The Fast Track to the Futures: Technological Innovation, Market Microstructure, Market Participants, and the Regulation of High-Frequency Trading (Barbara J Mack)Established Markets: Invited Contributions:Agricultural Futures Markets (Paul E Peterson and Jin Wook Choi)World Metal Markets (Raj Aggarwal, Brian Lucey, and Fergal O''Connor)Interest Rate Futures: Elements of a Successful Financial Innovation (Bluford H Putnam)Currency Futures (Tim Weithers)Energy Futures Markets (Betty Simkins and Yuecheng Jia)New Markets: Invited Contributions:Volatility as an Asset Class (Tom Nohel and Steven K Todd)Housing Futures Markets (Jin Wook Choi and Jin Man Lee)Freight Futures Markets (Fotis Giannakoulis, Nikos Gavriilidis and Nikolas Arachovas)Modeling the Dynamics of Temperature with a View to Weather Derivatives (Eirini Konstantinidi, Gkaren Papazian and George Skiadopoulos)Electricity Futures (Paolo Falbo, Daniele Felletti and Silvana Stefani)Climate Futures Markets (Rita l D''Ecclesia) The European Sovereign Debt Crisis and the Role of Credit Swaps (Eleftherios I Thalassinos, Theodoros Stamatopoulos and Pantelis E Thalassinos)Advanced Topics: Invited Papers:Returns from Investing in S&P500 Futures Options, 1985–2010 (Alexandre Ziegler and William T Ziemba)How to Lose Money in Derivatives: Examples from Hedge Funds and Bank Trading Departments (Sebastien Lleo and William T Ziemba)Nominal GDP Futures Contract Targeting (W William Woolsey and Scott Sumner)The Ethics of Financial Speculation in Futures Markets (Ingo Pies, Matthias Georg Will, Thomas Glauben, and Sören Prehn) Readership: Graduate students and researchers who are interested in the topic of futures markets. Key Features:Collection of classical papers and new critical surveys written by leading academics in financial economicsServes as a definitive source for comprehensive and accessible information in futures marketsEmphasizes the unique characteristics of futures markets Keywords:Futures Markets;Pricing;Risk Management;Futures Trading;Stock Indexes;Interest Rates;Futures Prices;Portfolio Theory;Hedge Funds;Foreign Exchange “Financial futures have spawned enormous innovation in the investment industry over the past four decades. Hedging and speculation in financial markets have been revolutionized. More recently, commodity futures have served as a gateway for institutional investors to a new investible asset class, and not without some interesting controversy over the implications for the underlying commodity markets. The World Scientific Handbook of Futures Markets helps us make sense of these developments with its carefully selected compendium of classic articles by the pioneering giants along with a tasteful assortment of new work that helps bring us to up date with the current state of the field. With this volume, Malliaris and Ziemba have significantly lowered the cost of entry of readers from industry and academia.” Darrell Duffie Dean Witter Distinguished Professor of Finance Graduate School of Business, Stanford University “Twenty years after their inception, Nobel Laureate in Economics, Merton Miller, named financial futures as ‘the most significant innovation of the past two decades’. He peered into the future. These instruments have become an integral part of the financial system in the world's leading economies and are used to hedge and manage risk by international and domestic banks, public and private pension funds, mutual funds, hedge funds, asset and liabilities managers, swap dealers, insurance and mortgage companies, and energy companies. This process has improved national productivity, growth, and standards of living … The World Scientific Handbook of Futures Markets is a welcome addition to the body of expert work providing comprehensive information on futures markets to the world. The papers selected read like the ‘who's who’ of futures markets offering invaluable theoretical and practical information.” Leo Melamed Chairman Emeritus, CME Group “The World Scientific Handbook of Futures Markets is a unique volume thoughtfully edited by Professors Tassos Malliaris and Bill Ziemba, two experts in the field. Classic papers authored by Samuelson, Fama, French and Mandelbrot, among others, demonstrate how the area of futures markets has attracted seminal economists and finance thinkers. The volume also includes 18 original essays covering traditional futures markets, such as agricultural, energy, metals, the more recent financial futures markets such as interest rates, equities and currencies, and finally, new markets such as weather, housing, climate, electricity and freight futures. With its innovative and comprehensive coverage, this forward-looking Handbook instructs and guides both researchers and practitioners in the field of futures markets.” George Constantinides Leo Melamed Professor of Finance University of Chicago Booth School of Business '

After The Financial Crisis

Author: Pablo Iglesias-Rodriguez
Publisher: Springer
ISBN: 1137509562
Size: 63.79 MB
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After The Financial Crisis from the Author: Pablo Iglesias-Rodriguez. This international collection studies how the financial crisis of 2007 and the ensuing economic and political crises in Europe and North America have triggered a process of change in the field of economics, law and politics. Contributors to this book argue that both elites and citizens have had to rethink the nature of the market, the role of the state as a market regulator and as a provider of welfare, the role of political parties in representing society’s main political and social cleavages, the role of civil society in voicing the concerns of citizens, and the role of the citizen as the ultimate source of power in a democracy but also as a fundamentally powerless subject in a global economy. The book studies the actors, the areas and the processes that have carried forward the change and proposes the notion of ‘incomplete paradigm shift’ to analyse this change. Its authors explore the multiple dimensions of paradigm shifts and their differentiated evolution, arguing that today we witness an incomplete paradigm shift of financial regulations, economic models and welfare systems, but a stillbirth of a new political and economic paradigm.

Financial Crises 1929 To The Present Second Edition

Author: Sara Hsu
Publisher: Edward Elgar Publishing
ISBN: 1785365177
Size: 23.37 MB
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Financial Crises 1929 To The Present Second Edition from the Author: Sara Hsu. This fascinating volume offers a comprehensive synthesis of the events, causes and outcomes of the major financial crises from 1929 to the present day. Beginning with an overview of the global financial system, Sara Hsu presents both theoretical and empirical evidence to explain the roots of financial crises and financial instability in general. She then provides a thorough breakdown of a number of major crises of the past century, both in the United States and around the world.

Economics In The Twenty First Century

Author: Robert Chernomas
Publisher: University of Toronto Press
ISBN: 1442620188
Size: 19.19 MB
Format: PDF, ePub
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Economics In The Twenty First Century from the Author: Robert Chernomas. "Economics has always been nicknamed the "dismal science," but today the field seems a little more dismal than usual as governments, social movements, and even students complain that the discipline is failing to make sense of the major economic problems of the day. In Economics in the Twenty-First Century, Robert Chernomas and Ian Hudson demonstrate how today's top young economists continue to lead the field in the wrong direction. The recent winners of the John Bates Clark medal, economics's "baby Nobel," have won that award for studying important issues such as economic development, income inequality, crime, and health. Examining their research, Chernomas and Hudson show that this work focuses on individual choice, ignores the systematic role of power in the economic system, and leads to solutions that are of limited effectiveness at best and harmful at worst. An accessible summary of the latest debates in economics, Economics in the Twenty-First Century takes on what is missing from mainstream economics, why it matters, and how the discipline can better address the key concerns of our era."--

The Routledge Companion To Management And Organizational History

Author: Patricia Genoe McLaren
Publisher: Routledge
ISBN: 113591852X
Size: 62.53 MB
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The Routledge Companion To Management And Organizational History from the Author: Patricia Genoe McLaren. The field of management and organizational history has reached a level of maturity that means an overview is long overdue. Written by a team of globally renowned scholars, this comprehensive companion analyses management and organizational history, reflecting on the most influential periods and highlighting gaps for future research. From the impact of the Cold War to Global Warming, it examines the field from a wide array of perspectives from humanities to the social sciences. Covering the entire spectrum of the field, this volume provides an essential resource for researchers of business and management.

African American And European Trajectories Of Modernity Past Oppression Future Justice

Author: Peter Wagner
Publisher: Edinburgh University Press
ISBN: 1474405126
Size: 42.45 MB
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African American And European Trajectories Of Modernity Past Oppression Future Justice from the Author: Peter Wagner. Firmly links the history of Europe to world history, situating European modernity in its global context African, American and European Trajectories of Modernity asks why, from some moment onwards, 'Europe' and 'the rest of the world' entered into a particular relationship. This relationship was not merely one of domination but one that was conceived as a kind of superiority; more specifically, as an 'advance' in historical time. Towards this end, the volume first analyses the emergence of this Atlantic modernity, then proceeds to compare aspects of contemporary Southern modernity, focusing on Brazil, Chile and South Africa. Finally, it explores the dynamics of contemporary modernity worldwide, looking at the relationship between past oppression and injustice and expectations for future freedom and justice.

Higher Education In Austerity Europe

Author: Jon Nixon
Publisher: Bloomsbury Publishing
ISBN: 1474277284
Size: 46.10 MB
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Higher Education In Austerity Europe from the Author: Jon Nixon. The financial crisis of 2007/2008 prompted governments across Europe to adopt austerity measures aimed at the reduction of their escalating budget deficits. Higher Education in Austerity Europe explores how the resulting cuts in public expenditure - together with the increasing reliance on the privatisation of services - have impacted on higher education directly through the reduction of public sector provision and indirectly as a result of the social and political consequences of that reduction. Moreover, it explores how the effects of these economic policies have differed markedly across the national regions of Europe, with the result that inequality has increased significantly both within and between national regions, and this, in turn, has led to social and political dislocation within and across communities. It is only by viewing higher education within this broader context that we can begin to understand the full implications of the austerity measures introduced over the last ten years. Jon Nixon draws together leading scholars to delve into the complexity of impact and response generated by these measures. Part 1 focuses on cross-European perspectives; Part 2 on the impact of austerity measures within national systems; and Part 3 on new perspectives and possibilities. The volume also includes considered responses from 'outsiders' by academics located in Asia, Australia, and the USA, providing an additional dimension to the analysis. As well as analysing the full impact of austerity measures across some of the worst hit national regions of Europe, the contributors also identifying openings and possibilities for renewal.

Modern Political Economics

Author: Yanis Varoufakis
Publisher: Routledge
ISBN: 1136814744
Size: 15.88 MB
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Modern Political Economics from the Author: Yanis Varoufakis. In 2008, not only did the financial system collapse, and send the real economy into a tailspin, but it also revealed the great gulf separating economics from a very real capitalism. Modern Political Economics has a single aim: To help readers make sense of how 2008 came about and what the post-2008 world has in store.