We present ht here, in three parts, a preliminary report on the book Speculative Capital, which contains the first comprehensive study of a new form of capital that dominates the economies of the 21st century. Throughout this report, we refer […]
Speculative Capital in the context of LiPumas theory of Speculation And CIrculatory Capital
When Jean Baudrillard announced that the year 2000 would not take place, one had to suspect evil. It is no exaggeration to say that the financial crisis of 2008 was the only event of world historical significance in the new
The financial crisis in 2008 took place.
Abstract This essay accounts for the production of specifically financial products such as hedges, focusing on how and why their liquidity adds value through a critical re-reading of Marx’s account of relative surplus value in the production of commodities. It
Reinventing Marx for an Age of Finance
The externalist view argues that we can make sense of, and profit from stock markets’ behavior, or at least few crucial properties of it, by crunching numbers and looking for patterns and regularities in certain sets of data. The notion
The Statistical Physics of Stock Markets
Any system that uses only single asset price (and possibly prices of multiple assets, but this case is not completely clear) as input. The price is actually secondary and typically fluctuates few percent a day in contrast with liquidity flow,
Since the mid-2000s, financial markets have been subjected to an unprecedented critical scrutiny, particularly in light of ‘black swan events’ such as the supposedly unpredictable Global Financial Crisis, and algorithmic ‘accidents’ such as the Flash Crash of May
Fundamentals of Algorithmic Markets: Liquidity, Contingency, and the Incomputability of Exchange