The Specter of Capital

Business & Finance, Economics, Theory of Economics, Nonfiction, Social & Cultural Studies, Political Science, Politics, History & Theory, Religion & Spirituality, Philosophy
Cover of the book The Specter of Capital by Joseph Vogl, Stanford University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Joseph Vogl ISBN: 9780804792967
Publisher: Stanford University Press Publication: October 22, 2014
Imprint: Stanford University Press Language: English
Author: Joseph Vogl
ISBN: 9780804792967
Publisher: Stanford University Press
Publication: October 22, 2014
Imprint: Stanford University Press
Language: English

In his brilliant interdisciplinary analysis of the global financial crisis, Joseph Vogl aims to demystify finance capitalism—with its bewildering array of new instruments—by tracing the historical stages through which the financial market achieved its current autonomy. Classical and neoclassical economic theorists have played a decisive role here. Ignoring early warnings about the instability of speculative finance markets, they have persisted in their belief in the inherent equilibrium of the market, describing even major crises as mere aberrations or adjustments and rationalizing dubious financial practices that escalate risk while seeking to manage it. "The market knows best": this is a secular version of Adam Smith's faith in the market's "invisible hand," his economic interpretation of eighteenth-century providentialist theodicy, which subsequently hardened into an "oikodicy," an unquestioning belief in the self-regulating beneficence of market forces. Vogl shows that financial theory, assisted by mathematical modeling and digital technology, itself operates as a "hidden hand," pushing economic reality into unknown territory. He challenges economic theorists to move beyond the neoclassical paradigm to discern the true contours of the current epoch of financial convulsions.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

In his brilliant interdisciplinary analysis of the global financial crisis, Joseph Vogl aims to demystify finance capitalism—with its bewildering array of new instruments—by tracing the historical stages through which the financial market achieved its current autonomy. Classical and neoclassical economic theorists have played a decisive role here. Ignoring early warnings about the instability of speculative finance markets, they have persisted in their belief in the inherent equilibrium of the market, describing even major crises as mere aberrations or adjustments and rationalizing dubious financial practices that escalate risk while seeking to manage it. "The market knows best": this is a secular version of Adam Smith's faith in the market's "invisible hand," his economic interpretation of eighteenth-century providentialist theodicy, which subsequently hardened into an "oikodicy," an unquestioning belief in the self-regulating beneficence of market forces. Vogl shows that financial theory, assisted by mathematical modeling and digital technology, itself operates as a "hidden hand," pushing economic reality into unknown territory. He challenges economic theorists to move beyond the neoclassical paradigm to discern the true contours of the current epoch of financial convulsions.

More books from Stanford University Press

Cover of the book Newsworthy by Joseph Vogl
Cover of the book Weird John Brown by Joseph Vogl
Cover of the book The Blind in French Society from the Middle Ages to the Century of Louis Braille by Joseph Vogl
Cover of the book Narrowcast by Joseph Vogl
Cover of the book Asia's Regional Architecture by Joseph Vogl
Cover of the book Feverish Bodies, Enlightened Minds by Joseph Vogl
Cover of the book Shorelines by Joseph Vogl
Cover of the book The Woman Who Read Too Much by Joseph Vogl
Cover of the book Lifecycle Events and Their Consequences by Joseph Vogl
Cover of the book Feminine Capital by Joseph Vogl
Cover of the book Yoritomo and the Founding of the First Bakufu by Joseph Vogl
Cover of the book Mark Twain in China by Joseph Vogl
Cover of the book Surrounded by Joseph Vogl
Cover of the book Strangers in the City by Joseph Vogl
Cover of the book Us&Them by Joseph Vogl
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy