The Global Minotaur

Author: Yanis Varoufakis
Publisher: Zed Books
ISBN: 9781780320144
Size: 28.28 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 World Scientific Handbook Of Futures Markets

Author: Anastasios G Malliaris
Publisher: World Scientific
ISBN: 9814566934
Size: 31.63 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: 60.26 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.

Lessons In Secular Criticism

Author: Stathis Gourgouris
Publisher: Oxford University Press
ISBN: 0823253791
Size: 74.58 MB
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Lessons In Secular Criticism from the Author: Stathis Gourgouris. For Gourgouris, secular criticism is a form of political being, critical, anti-foundational, disobedient, anarchic, yet not negative for negation's sake, but creative of new forms of collective reflection, interrogation, and action, which alter not only the current terrain of dominant politics but the very self-conceptualization of what it means to be human. Written in free and combative style, as was the demand of the Sydney Library Lectures to "think out loud," and given both to close readings of texts and examinations of the broad horizon, these essays cover a range of issues, historical and philosophical, archaic and contemporary, literary and political that ultimately converge on the significance of contemporary radical politics--the assembly movements we have seen in various parts of the world in the last couple of years. The secular imagination demands a radical pedagogy and a great deal of unlearning established thought patterns.

Economics In The Twenty First Century

Author: Robert Chernomas
Publisher: University of Toronto Press
ISBN: 1442620188
Size: 60.31 MB
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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."--

Financial Crises 1929 To The Present Second Edition

Author: Sara Hsu
Publisher: Edward Elgar Publishing
ISBN: 1785365177
Size: 42.89 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.

Facing The Crises

Author: Ljubica Matek
Publisher: Cambridge Scholars Publishing
ISBN: 1443862401
Size: 24.44 MB
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Facing The Crises from the Author: Ljubica Matek. Owing to the diverse research interests of the contributors, this collection of essays offers a varied picture of the current approaches to Anglo-American literature and culture, and points to the need for a deeper understanding of current cultural, economic and social processes in the globalizing and globalized culture of the West. Because “crisis” seems to be the key word of contemporary Western culture, the first part of the book, titled “In the Face of Crises”, explores the implicit or explicit idea of a crisis between the real and the simulated, suggesting that one of the major issues for the contemporary man is how to deal with the virtual or with the “absence of the real”. Our fast-paced, technology-laden and materialist-oriented existence brings about the need to rethink our human identity, putting into perspective our relationship to technology, the impact of capitalist economy and colonial past, as well as consequences of constant warfare. The second part of the book, “New Perspectives on Literary Genres”, analyzes forms, topics and styles in literary texts belonging to specific, sometimes marginalized, genres. Literary analyses in this section also touch upon the idea of crisis: be it the crisis of understanding and redefining a particular genre, or a crisis that is inherent in the controversial topic or form of the text. As a reaction to recent allegations concerning the crisis of humanities as “non-profitable”, this book shows that humanist research is indispensable and crucial for understanding the human condition, making this book a relevant addition to the contemporary discussion of literature and culture.

Europe In Crisis

Author: Aristidis Bitzenis
Publisher: Palgrave Macmillan
ISBN: 1137438924
Size: 49.79 MB
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Europe In Crisis from the Author: Aristidis Bitzenis. As the shock of the 2008 European financial crisis begins to subside, it is time for scholars to step back and analyze the crisis's causes and effects from a multidisciplinary vantage point. Europe in Crisis examines the current state of the European economy, society, and polity, both on the theoretical and political levels, by placing special emphasis on its current crisis. With important contributions from heterodox economists and radical social and political scientists, this innovative new edited collection seeks to evaluate past efforts and policies (mainly since World War II), criticize the failed neoclassical/neoliberal perspectives, and offer alternative strategies and policies to Europe's socioeconomic impasse and misery.

International Political Economy

Author: James H. Nolt
Publisher: Routledge
ISBN: 1135994374
Size: 78.18 MB
Format: PDF, ePub
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International Political Economy from the Author: James H. Nolt. "This book offers a completely new and unique introduction to the economics of international relations. It treats all the traditional major themes of international relations theory while giving each a refreshing new twist with the incorporation of the influence of private power, particularly in the realm of war and peace. It reframes the history of the modern global economy and politics by thoroughly purging the myth of the market, a systematic blindness to private power. It not only draws on, but also illuminates major themes and empirical findings of comparative politics, business history, business strategy, business cycle theory, social evolutionary theory as well as the practical wisdom of traders and investors. This book presents a refreshing and exciting portrayal of the global economy which challenges every major subject from money to markets to the business cycle. This book eschews the economics of dull averages to restore the drama of contending business forces, struggling for wealth and, in the process, influencing war and peace"--

Riot Unrest And Protest On The Global Stage

Author: David Pritchard
Publisher: Springer
ISBN: 1137305533
Size: 79.42 MB
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Riot Unrest And Protest On The Global Stage from the Author: David Pritchard. In this collection, leading international scholars examine riots and protest in a range of countries and contexts, exploring the major social transformations of rioting and the changing dynamics, interpretation and potency of unrest in a globalised era.