The Future of Futures__The Time of Money in Financing and Society.pdf

"The Future of Futures: The Time of Money in Financing and Society"
Elena Esposito,

Publisher: Edward Elgar Pub | 2011 |
ISBN: 1849801525 |
PDF | 215 pages | 1.3 MB

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.