The Future of Futures

Elena Esposito

in Books from Edward Elgar Publishing

Abstract: 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.

Keywords: Economics and Finance; Social Policy and Sociology (search for similar items in EconPapers)
JEL-codes: G0 (search for similar items in EconPapers)
Date: 2011
ISBN: 9781849801522
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

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