Description

This book reconstructs the dynamics of economics, beginning explicitly with the role and the relevance of time: money uses the future in order to generate present wealth. Financial markets sell and buy risk, thereby binding the future. Elena Esposito explains that complex risk management techniques of structured finance produce new and uncontrolled risks because they use a simplified idea of the future, failing to account for how the future reacts to attempts at controlling it. During the recent financial crisis, the future had already been used (through securitizations, derivatives and other tools) to the extent that we had many futures, but no open future available.

The Future of Futures: The Time of Money in Financing and Society

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Hardback by Elena Esposito

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This book reconstructs the dynamics of economics, beginning explicitly with the role and the relevance of time: money uses the... Read more

    Publisher: Edward Elgar Publishing Ltd
    Publication Date: 28/02/2011
    ISBN13: 9781849801522, 978-1849801522
    ISBN10: 1849801525

    Number of Pages: 232

    Non Fiction , Business, Finance & Law

    Description

    This book reconstructs the dynamics of economics, beginning explicitly with the role and the relevance of time: money uses the future in order to generate present wealth. Financial markets sell and buy risk, thereby binding the future. Elena Esposito explains that complex risk management techniques of structured finance produce new and uncontrolled risks because they use a simplified idea of the future, failing to account for how the future reacts to attempts at controlling it. During the recent financial crisis, the future had already been used (through securitizations, derivatives and other tools) to the extent that we had many futures, but no open future available.

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