Money Machines

Electronic Financial Technologies, Distancing, and Responsibility in Global Finance

Author: Mark Coeckelbergh

Publisher: Routledge

ISBN: 1317094298

Category: Social Science

Page: 212

View: 7194

DOWNLOAD NOW »
While we have become increasingly vulnerable to the ebb and flow of global finance, most of us know very little about it. This book focuses on the role of technology in global finance and reflects on the ethical and societal meaning and impact of financial information and communication technologies (ICTs). Exploring the history, metaphysics, and geography of money, algorithms, and electronic currencies, the author argues that financial ICTs contribute to impersonal, disengaged, placeless, and objectifying relations, and that in the context of globalization these 'distancing' effects render it increasingly difficult to exercise and ascribe responsibility. Caught in the currents of capital, it seems that both experts and lay people have lost control and lack sufficient knowledge of what they are doing. There is too much epistemic, social, and moral distance. At the same time, the book also shows that these electronically mediated developments do not render global finance merely 'virtual', for its technological practices remain material and place-bound, and the ethical and social vulnerabilities they create are no less real. Moreover, understood in terms of technological practices, global finance remains human through and through, and there is no technological determinism. Therefore, Money Machines also examines the ways in which contemporary techno-financial developments can be resisted or re-oriented in a morally and socially responsible direction - not without, but with technology. As such, it will appeal to philosophers and scholars across the humanities and the social sciences with interests in science and technology, finance, ethics and questions of responsibility.

Methods and Finance

A Unifying View on Finance, Mathematics and Philosophy

Author: Emiliano Ippoliti,Ping Chen

Publisher: Springer

ISBN: 331949872X

Category: Science

Page: 194

View: 896

DOWNLOAD NOW »
The book offers an interdisciplinary perspective on finance, with a special focus on stock markets. It presents new methodologies for analyzing stock markets’ behavior and discusses theories and methods of finance from different angles, such as the mathematical, physical and philosophical ones. The book, which aims at philosophers and economists alike, represents a rare yet important attempt to unify the externalist with the internalist conceptions of finance.

Professional Authority After the Global Financial Crisis

Defending Mammon in Anglo-America

Author: Malcolm Campbell-Verduyn

Publisher: Springer

ISBN: 3319527827

Category: Political Science

Page: 211

View: 2786

DOWNLOAD NOW »
This book challenges amoral views of finance as the leading realm in which mammon – wealth and profit – is pursued with little overt regard for morality. The author details an enhanced ethical emphasis by leading Anglo–American professionals in the aftermath of the 2007–8 global financial crisis. Instead of merely stressing expert knowledge, professionals sought to overcome the alleged impossibility of serving “two masters” – mammon and God – by embracing religious finance, socio-economic inequality, sustainability and other overtly moral issues. Continuities in liberal values and ideas, however, limited the impact of this enhanced ethical emphasis to restoring the professional authority, as well as to more fundamentally reforming of Anglo–American finance following the most severe period of instability since the Great Depression. Providing a nuanced account of post-crisis change and continuity in a crucially important industry, Campbell-Verduyn advances a dynamic, process-based understanding of authority that will appeal to international political economists and sociologists alike.

Noise

Living and Trading in Electronic Finance

Author: Alex Preda

Publisher: University of Chicago Press

ISBN: 022642751X

Category: Business & Economics

Page: 264

View: 3249

DOWNLOAD NOW »
We often think of finance as a glamorous world, a place where investment bankers amass huge profits in gleaming downtown skyscrapers. There’s another side to finance, though—the millions of amateurs who log on to their computers every day to make their own trades. The shocking truth, however, is that less than 2% of these amateur traders make a consistent profit. Why, then, do they do it? In Noise, Alex Preda explores the world of the people who trade even when by all measures they would be better off not trading. Based on firsthand observations, interviews with traders and brokers, and on international direct trading experience, Preda’s fascinating ethnography investigates how ordinary people take up financial trading, how they form communities of their own behind their computer screens, and how electronic finance encourages them to trade more and more frequently. Along the way, Preda finds the answer to the paradox of amateur trading—the traders aren’t so much seeking monetary rewards in the financial markets, rather the trading itself helps them to fulfill their own personal goals and aspirations.

The Politics of Bitcoin

Software as Right-Wing Extremism

Author: David Golumbia

Publisher: U of Minnesota Press

ISBN: 1452953813

Category: Computers

Page: 100

View: 8618

DOWNLOAD NOW »
Since its introduction in 2009, Bitcoin has been widely promoted as a digital currency that will revolutionize everything from online commerce to the nation-state. Yet supporters of Bitcoin and its blockchain technology subscribe to a form of cyberlibertarianism that depends to a surprising extent on far-right political thought. The Politics of Bitcoin exposes how much of the economic and political thought on which this cryptocurrency is based emerges from ideas that travel the gamut, from Milton Friedman, F.A. Hayek, and Ludwig von Mises to Federal Reserve conspiracy theorists. Forerunners: Ideas First is a thought-in-process series of breakthrough digital publications. Written between fresh ideas and finished books, Forerunners draws on scholarly work initiated in notable blogs, social media, conference plenaries, journal articles, and the synergy of academic exchange. This is gray literature publishing: where intense thinking, change, and speculation take place in scholarship.

The Heretic's Guide to Global Finance

Hacking the Future of Money

Author: Brett Scott

Publisher: Pluto Press

ISBN: 9780745333502

Category: Business & Economics

Page: 240

View: 9479

DOWNLOAD NOW »
Popular anger against bankers and financial speculators has never been greater, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform. As a stockbroker turned campaigner, Brett Scott has a unique understanding of life inside and outside the system. The Heretic's Guide to Global Finance is a practical handbook for campaigners, academics and students who wish to deepen their understanding of the inner workings of the financial sector. It shows how financial knowledge can be used to build effective social and environmental campaigns. Scott covers topics frequently overlooked, such as the cultural aspects of the financial sector, and considers major issues such as agricultural speculation, carbon markets and tar sands financing. The book shows how activists can use the internal dynamics of the sector to reform it and showcases the growing alternative finance movement.

Confronting Consumption

Author: Thomas Princen,Michael Maniates,Ken Conca

Publisher: MIT Press

ISBN: 9780262661287

Category: Business & Economics

Page: 382

View: 847

DOWNLOAD NOW »
Essays that offer ecological, social, and political perspectives on the problem of overconsumption.

Migrating Into Financial Markets

How Remittances Became a Development Tool

Author: Matt Bakker

Publisher: Univ of California Press

ISBN: 0520285468

Category: Business & Economics

Page: 283

View: 5057

DOWNLOAD NOW »
A free ebook version of this title is available through Luminos, University of California Press’s new open access publishing program for monographs. Visit www.luminosoa.org to learn more. We understand very little about the billions of dollars that flow throughout the world from migrants back to their home countries. In this rigorous and illuminating work, Matt Bakker, an economic sociologist, examines how these migrant remittances—the resources of some of the world’s least affluent people—have come to be seen in recent years as a fundamental contributor to development in the migrant-sending states of the Global South. This book analyzes how the connection between remittances and development was forged through the concrete political and intellectual practices of policy entrepreneurs within a variety of institutional settings, from national government agencies and international development organizations to nongovernmental policy foundations and think tanks.

The 9/11 Commission Report

Final Report of the National Commission on Terrorist Attacks Upon the United States. Authorized Edition

Author: National Commission on Terrorist Attacks upon the United States

Publisher: W. W. Norton & Company

ISBN: 9780393060416

Category: History

Page: 604

View: 746

DOWNLOAD NOW »
Provides the final report of the 9/11 Commission detailing their findings on the September 11 terrorist attacks.

An Engine, Not a Camera

How Financial Models Shape Markets

Author: Donald Mackenzie

Publisher: MIT Press

ISBN: 0262250047

Category: Technology & Engineering

Page: 392

View: 3929

DOWNLOAD NOW »
In An Engine, Not a Camera, Donald MacKenzie argues that the emergence of modern economic theories of finance affected financial markets in fundamental ways. These new, Nobel Prize-winning theories, based on elegant mathematical models of markets, were not simply external analyses but intrinsic parts of economic processes.Paraphrasing Milton Friedman, MacKenzie says that economic models are an engine of inquiry rather than a camera to reproduce empirical facts. More than that, the emergence of an authoritative theory of financial markets altered those markets fundamentally. For example, in 1970, there was almost no trading in financial derivatives such as "futures." By June of 2004, derivatives contracts totaling $273 trillion were outstanding worldwide. MacKenzie suggests that this growth could never have happened without the development of theories that gave derivatives legitimacy and explained their complexities.MacKenzie examines the role played by finance theory in the two most serious crises to hit the world's financial markets in recent years: the stock market crash of 1987 and the market turmoil that engulfed the hedge fund Long-Term Capital Management in 1998. He also looks at finance theory that is somewhat beyond the mainstream -- chaos theorist Benoit Mandelbrot's model of "wild" randomness. MacKenzie's pioneering work in the social studies of finance will interest anyone who wants to understand how America's financial markets have grown into their current form.

Human Being @ Risk

Enhancement, Technology, and the Evaluation of Vulnerability Transformations

Author: Mark Coeckelbergh

Publisher: Springer Science & Business Media

ISBN: 9400760256

Category: Philosophy

Page: 218

View: 645

DOWNLOAD NOW »
Whereas standard approaches to risk and vulnerability presuppose a strict separation between humans and their world, this book develops an existential-phenomenological approach according to which we are always already beings-at-risk. Moreover, it is argued that in our struggle against vulnerability, we create new vulnerabilities and thereby transform ourselves as much as we transform the world. Responding to the discussion about human enhancement and information technologies, the book then shows that this dynamic-relational approach has important implications for the evaluation of new technologies and their risks. It calls for a normative anthropology of vulnerability that does not ask which objective risks are acceptable, how we can become invulnerable, or which technologies threaten human nature, but which vulnerability transformations we want. To the extent that we can steer the growth of new technologies at all, this tragic and sometimes comic project should therefore be guided by what we want to become.​

Social Banking and Social Finance

Answers to the Economic Crisis

Author: Roland Benedikter

Publisher: Springer Science & Business Media

ISBN: 9781441977748

Category: Business & Economics

Page: 136

View: 1808

DOWNLOAD NOW »
For over 2,000 years, banks have served to facilitate the exchange of money and to provide a variety of economic and financial services. During the most recent financial collapse and subsequent recession, beginning in 2008, banks have been vilified as perpetrators of the crisis, the public distrust compounded by massive public bailouts. Nevertheless, another form of banking has also emerged, with a focus on promoting economic sustainability, investing in community, providing opportunity for the disadvantaged, and supporting social, environmental, and ethical agendas. Social Banking and Social Finance traces the emergence of the “bank with a conscience” and proposes a new approach to banking in the wake of the economic crisis. Featuring innovations and initiatives in banking from Europe, Canada, and the United States, Roland Benedikter presents an alternative to traditional banking practices that are focused exclusively on profit maximization. He argues that social banking is not about changing the system, but about improving some of its core features by putting into use the "triple bottom line" principle of profit-people-planet. Important lessons can be learned by the success of social banks that may be useful for the greater task of improving the global financial system and avoiding economic crises in the future.

Pacific Currents

The Responses of U.S. Allies and Security Partners in East Asia to China's Rise

Author: Evan S. Medeiros

Publisher: Rand Corporation

ISBN: 0833044648

Category: Political Science

Page: 279

View: 3063

DOWNLOAD NOW »
China1s importance in the Asia-Pacific has been on the rise, raising concerns about competition the United States. The authors examined the reactions of six U.S. allies and partners to China1s rise. All six see China as an economic opportunity. They want it to be engaged productively in regional affairs, but without becoming dominant. They want the United States to remain deeply engaged in the region.

Growing Moral Relations

Critique of Moral Status Ascription

Author: Mark Coeckelbergh

Publisher: Palgrave Macmillan

ISBN: 1137025956

Category: Philosophy

Page: 239

View: 1898

DOWNLOAD NOW »
New scientific and technological developments challenge us to reconsider the moral status of entities such as chimpanzees or artificially intelligent robots: what place should we give them in our moral world order? Engaging with a variety of theoretical sources, this book offers a relational approach to moral status that questions individualist and objectivist assumptions made in these discussions, and proposes a less dualistic view by emphasizing the entanglement of natural, social, and technological relations. But it also asks why it is so hard to move towards a more relational understanding. The author's answer is an original discussion of the conditions of possibility of moral status ascription. Influenced by Heidegger and Wittgenstein, he argues that our specific way of ascribing moral status, and indeed the very project of moral status 'ascription', is made possible by, and limited by, particular linguistic, social-cultural, natural-bodily, material-technological, religious-spiritual, and historical-spatial conditions. The 'living' moral epistemology that emerges from this 'philosophical yoga' –an exercise in becoming more aware of your moral breathing – urges us to recognize that changing our moral thinking depends on the growth of our relations and hence of our form of life.

The Future of Money in the Information Age

Author: James A. Dorn

Publisher: Cato Institute

ISBN: 9781882577521

Category: Business & Economics

Page: 171

View: 8038

DOWNLOAD NOW »
The information revolution has changed the lives of many. Instead of making expensive long-distance phone calls, people can now converse by e-mail for pennies, & instead of having to go to physical locations such as libraries to gather information, we can now use the World Wide Web to find what we need. The financial industry has just begun to be affected by the information revolution. This book examines the regulatory climate; the impact of electronic money on taxation, banking, & monetary policy; & the problem of maintaining privacy in the new monetary universe.

Ethics and Finance

An Introduction

Author: John Hendry

Publisher: Cambridge University Press

ISBN: 1107654254

Category: Philosophy

Page: 260

View: 9505

DOWNLOAD NOW »
Ethics and Finance: An Introduction provides a comprehensive and accessible introduction to the ethical issues raised by modern finance. Drawing carefully on ethical theory and with frequent use of case studies, it includes an analysis of the global financial system and its regulation and control, as well as a detailed analysis of the financial crisis. Chapters on specific areas of finance practice cover all the major financial scandals of recent times, from mis-selling to market manipulation and from insider trading to bankers' bonuses, as well as much more positive developments. From micro finance to derivatives trading, the book provides a careful and balanced treatment designed to help finance students and practitioners approach this sensitive topic in a thoughtful and constructive way. No prior knowledge of ethics or finance is required, and the book will be invaluable to students, finance teachers, practitioners and regulators.

Environmental Finance

A Guide to Environmental Risk Assessment and Financial Products

Author: Sonia Labatt,Rodney R. White

Publisher: John Wiley & Sons

ISBN: 9780471447382

Category: Business & Economics

Page: 384

View: 8628

DOWNLOAD NOW »
An engaging and comprehensive look at the intersection of financial innovation and the environment This unique book provides readers with a comprehensive look at the new markets being created to help companies manage environmental risks, including weather derivatives, catastrophe bonds, and emission trading permits. Filled with real-world case studies and timely advice, Environmental Finance contains corporate strategies that financial service professionals as well as their clients must understand in order to proactively improve a company's environmental performance.

Codes of Finance

Engineering Derivatives in a Global Bank

Author: Vincent Antonin Lépinay

Publisher: Princeton University Press

ISBN: 1400840465

Category: Business & Economics

Page: 304

View: 3460

DOWNLOAD NOW »
The financial industry's invention of complex products such as credit default swaps and other derivatives has been widely blamed for triggering the global financial crisis of 2008. In Codes of Finance, Vincent Antonin Lépinay, a former employee of one of the world’s leading investment banks, takes readers behind the scenes of the equity derivatives business at the bank before the crisis, providing a detailed firsthand account of the creation, marketing, selling, accounting, and management of these financial instruments—and of how they ultimately created havoc inside and outside the bank.

English as a Global Language

Author: David Crystal

Publisher: Cambridge University Press

ISBN: 1107611806

Category: Language Arts & Disciplines

Page: 212

View: 5274

DOWNLOAD NOW »
David Crystal's classic English as a Global Language considers the history, present status and future of the English language, focusing on its role as the leading international language. English has been deemed the most 'successful' language ever, with 1500 million speakers internationally, presenting a difficult task to those who wish to investigate it in its entirety. However, Crystal explores the subject in a measured but engaging way, always backing up observations with facts and figures. Written in a detailed and fascinating manner, this is a book written by an expert both for specialists in the subject and for general readers interested in the English language.

Cybernetic Revolutionaries

Technology and Politics in Allende's Chile

Author: Eden Medina

Publisher: MIT Press

ISBN: 0262016494

Category: Computers

Page: 326

View: 7272

DOWNLOAD NOW »
A historical study of Chile's twin experiments with cybernetics and socialism, and what they tell us about the relationship of technology and politics.