Tag Archives: financial markets

China’s Minsky moment: stability leads to instability

Hyman Minsky (1919–1996) was a distinguished American scholar and prominent post-Keynesian economist. In the wake of the 2008-2009 crisis Minsky’s invaluable scientific contribution has widely spread, but soon he has unfortunately disappeared from public and economic discussions. While most of the mainstream economists are … Continue reading

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Financial economics, or “Would you please elaborate on ‘then something bad happened’?”

“Would you please elaborate on ‘then something bad happened’?”

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James Tobin on ‘paper economy’ and short-sighted speculation-generating financial instruments

Nobel laureate in Economic Sciences James Tobin at the conclusions in his (open access) “On the Efficiency of the Financial System” paper: “We are throwing more and more of our resources, including the cream of our youth, into financial activities remote … Continue reading

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“Seeing, Knowing, and Regulating Financial Markets: Moving the Cognitive Framework from the Economic to the Social”

This (open access) interesing and comprehensive paper by Julia Black (LSE), argues that in order to regulate financial markets, we need a more sophisticated and realistic cognitive framework through which to analyse markets’ dynamics and on which to base their ‪regulation‬. To that … Continue reading

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“Insurgent Capitalism: Island, Bricolage and the Re-making of Finance” by Donald MacKenzie & Juan Pablo Pardo-Guerra

Drawing on recent discussions of the material cultures of markets and of financial innovation as bricolage, this paper explores the development of Island, a new share trading venue set up in 1995. The paper examines Island’s roots in a very specific conflict … Continue reading

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“How Numbers Rule the World: The Use and Abuse of Statistics in Global Politics” reveals the agendas underpinning statistics and those who control them

Credit ratings steer financial markets and can make or break the future of entire nations. GDP drives our economies. Stock market indices flood our media and national debates. But what is behind these numbers?  In How Numbers Rule the World: The … Continue reading

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The Worth of Goods: Valuation and Pricing in the Economy

This valuable volume The Worth of Goods: Valuation and Pricing in the Economy, edited by Jens Beckert and Patrik Aspers revisits established theories of value and takes a sociological approach to the perennial but timely question of what makes a product valuable. Leading … Continue reading

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