We are caught between those who celebrate financial markets and calculative agents and those who denounce them. Many economists are in the former camp; many social scientists in the latter. This paper begins with a conclusion: “a pox on both …
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This essay makes the case for a fundamental reconsideration of the role of the banking industry in the West in a situation where economic growth and development is much more dependent on that industry than many of us envisaged. It …
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Since the financial liberalisation of the 80’s, the Basel committee on Banking Supervision wants to strengthen banks’ apital and other stable funding with the purpose of increasing banks’ financial security, as stable funding increases the security of the non-financial business …
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After the Post-War Economy in America fell apart, Americans tried to fashion a replacement for it. Evaluation of that effort has been heavily influenced by American’s understanding of the earlier economy. By this standard the failure of attempts to build …
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Local political pressures seem to frame and steer conversations about difficult financial regulatory questions of global impact. Translating from one language to another or from one specialty to another falls short of working together and may even block finding creative …
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If American’s vote to force Congress to assign individual serial numbers to electronic dollars, the global economy will undergo a renaissance. All private and business bank accounts retain the exact same amount of cash, but by placing individual serial numbers …
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In this paper I look at how Mario Draghi, President of the European Central Bank, sought in the summer of 2012 to remake the euro as a “public currency” and, thus, further both the old and new agendas of European …
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This paper brings into focus some general – and indeed basic – aspects of financial markets and processes, the understanding of which is indispensible for the investigation of many penetrating questions that, notwithstanding their importance, are likely to be set …
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The Dodd-Frank Act (“Dodd-Frank”), enacted in the wake of the financial crisis of 2008, aims to address problems in the markets that government regulators face. During this financial crisis, key large financial institutions required governmental assistance to stem the systemic …
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An Epic interdisciplinary poem about rethinking financial markets both in terms of how we got here and what we do next.
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The paper argues in favor of a radical disconnection between the exchange function and the valuation function of financial markets. It defends it from an investee’s point of view, mainly on the grounds that valuing financial assets is a matter of judgment.
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