The value of a risky loan is the value of a risk-free loan minus the value of the guarantee, which is the option that can be priced out, either as insurance or interest. The liquidity of private credit markets implies […]
Robert Meister’s book „Justice is an Option“ (4) – A Revaluation of the Financial Markets
Die niedrigen internationalen Zinssätze und die Politik der quantitativen Lockerung (QE) während und nach der globalen Finanzkrise von 2008 trugen dazu bei, den Anstieg der Auslandsverschuldung und der Schuldendienstzahlungen in allen Entwicklungsregionen zu forcieren. Die Länder des Trikonts und Schwellenländer
Die Verschuldung der Peripherie und die Tendenz der Entdollarisierung
The global proletariat, as we have already seen, has never been as large as it is today. And yet the share of wages in domestic income has declined in both the South and the North. According to the ILO, since
In financial markets, asset pricing is a specific historical mode of pricing out options to then convert those options into cash. Pricing out an option in the form of a guarantee in order to sell it at its current price
Robert Meister’s book „Justice is an Option“ (3) – A Revaluation of the Financial Markets
Meister asks why, in a world dominated by finance, we should look to the future through Marx’s eyes? The answer is that the extraction of surplus value in production had the purpose of preserving and accumulating it as an instrument
Robert Meister’s new book „Justice is an Option“ (2) – A Revaluation of the Financial Markets
Robert Meister’s book Justice is an Option is an extremely important attempt to relate the theory of current finance to leftist political options aimed, among other things, at a theory of justice involving finance. Meister seeks to transform the concept
Robert Meister’s new book “Justice is an Option” (1) – A Revaluation of the Financial Markets
The heterodox positions of Elie Ayache and Suhail Malik on contemporary finance are often perceived, if not discussed more broadly, in the vapor circles of accelerationism. Let us first turn to Suhail Malik’s prosition. For us, the contingent price movements
Elie Ayaches and Suhail Malik’s Heterodox Conceptions of Finance: The Delirium of Contingency
I still remember when I first encountered Cory Doctorow’s writing. After an internet rabbit hole, I landed on his post ‘Ford patents plutocratic lane-changes’. Man, it made me laugh. Here was a sci-fi writer describing a (real) Ford patent that would
Red Team Blues: Cory Doctorow’s Anti-Finance Thriller
Since the proclamation of the “green turn,” which occurred, not coincidentally, around the time of the 2007-2008 financial crisis, fossil capital has defended its dominance of global energy markets and even sought to lead the development of so-called green future markets.
Eine systemische Bankenkrise kann aus folgen Faktoren resultieren: i) eine Kettenreaktion, bei der der anfängliche Ausfall einer Bank angesichts der starken Verflechtung der Banken zu einer Reihe weiterer Ausfälle führt; ii) das Ergebnis einer zyklischen Expansion der Wirtschaft, die angesichts
This paper is part of a dialogue with Blair Fix on how inflation redistributes income between creditors and workers and the way in which monetary policy affects this process. In his 2023 paper, ‘Inflation! The Battle Between Creditors and Workers’, Fix
‘Inflation as Redistribution: Creditors, Workers, Policymakers’
Die jüngste Krise im Bankensektor (Silicon Valley Bank) hat die Diskussion über Hedging, d. h. den Erwerb von Wertpapieren zur Absicherung des Risikos aus Positionen in anderen Wertpapieren, wiederbelebt. Die Menge dieser Wertpapiere ist dank der Basel-III-Verordnung und ihrer Fokussierung