EconoFiction

Reinventing Marx for an Age of Finance

15 Mrz , 2018  

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 then considers the political implications of its restatement of Marx’s ...

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EconoFiction

The Statistical Physics of Stock Markets

26 Feb , 2018  

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 of data, hence, is a key element in such an ...

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EconoFiction

Speculations

25 Nov , 2017  

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, that fluctuates in orders of magnitude. This also allows to ...

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EconoFiction

Fundamentals of Algorithmic Markets: Liquidity, Contingency, and the Incomputability of Exchange

16 Jul , 2017  

 
 
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 2010. Yet while the complexity of derivatives instruments and the rise of
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