Capitalism With Derivatives

1. Front Matter

   Pages i-viii

   PDF

2. Introduction

   1. Introduction

      • Dick Bryan, Michael Rafferty

      Pages 1-16

3. Derivatives as Capital

   1. Front Matter

      Pages 17-18

      PDF

   2. A New Perspective on the Role of Finance

      • Dick Bryan, Michael Rafferty

      Pages 19-38

   3. Derivatives and Derivative Markets

      • Dick Bryan, Michael Rafferty

      Pages 39-67

   4. From the Joint Stock Company to Financial Derivatives

      • Dick Bryan, Michael Rafferty

      Pages 68-102

4. Derivatives and International Finance

   1. Front Matter

      Pages 103-103

      PDF

   2. Anchoring the Global Financial System

      • Dick Bryan, Michael Rafferty

      Pages 105-134

   3. New, Global, Capitalist Money

      • Dick Bryan, Michael Rafferty

      Pages 135-161

   4. Global Competition

      • Dick Bryan, Michael Rafferty

      Pages 162-176

5. Debating Derivatives

   1. Front Matter

      Pages 177-177

      PDF

   2. Speculation, Derivatives and Capital Controls

      • Dick Bryan, Michael Rafferty

      Pages 179-202

   3. Derivatives and the Development of Capitalist Relations

      • Dick Bryan, Michael Rafferty

      Pages 203-214

6. Back Matter

   Pages 215-236

   PDF

What are the links between things as diverse as the prices of pork bellies, interest rates, and corporate stock? They are all being translated into risk and priced through the system of derivative markets. Financial derivatives are now the largest form of financial transaction in the world, and they are transforming in pervasive ways the lived experience of capitalist economies. Financial derivatives are anchoring the global financial system and challenging the conventional understanding of ownership, money and capital. These challenges are examined in this book, providing a significant reinterpretation of contemporary capitalism that will be of interest to both social scientists and conventional finance scholars.

• competition
• derivatives
• interest rates
• money
• political economy
• investments and securities

DICK BRYAN is Associate Professor in Political Economy at the University of Sydney, Australia. His research interests lie in value theory, economic nationalism and financial markets. Amongst his publications is The Chase Across the Globe: International Capital and the Contradictions for Nation States.

MICHAEL RAFFERTY teaches Economics and Finance at the Faculty of Commerce, University of Wollongong, Australia. He is also Research Associate at the Baltic Financial Markets Group at the University of South Stockholm, Sweden. His research interests include international finance and investment, as well as emerging capital markets. Amongst his publications is the Global Economy in Australia: Global Integration and National Economic Policy, with Dick Bryan.

Policies and ethics