The Future of Futures

The Time of Money in Financing and Society

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Author: Elena Esposito

Publisher: Edward Elgar Publishing

ISBN: 1849809119

Category: Business & Economics

Page: 256

View: 6169

'Within the cacophony of voices trying to explain the recent financial crisis, Elena Esposito's voice sounds clear and deep. Steering away from simplistic condemnations and equally simplistic prescriptions for betterment, she connects the very invention of derivatives to that eternal human hope – of controlling the future. While the task is impossible, the attempts never stop, and the very process of attempting it brings some consolation. And while derivatives can be seen, claim sociologists of finance, as performative, that is shaping the future they promise to control, even this is far from certain. Esposito's fascinating and beautiful work is an important contribution to the sociology of finance, a subdiscipline of sociology that took on itself an extremely important task of explaining how the finance markets really work.'– Barbara Czarniawska, University of Gothenburg, Sweden'This is a brilliant and timely book that shows how financing is centrally implicated in the very unpredictability and uncertainty it purports to master. With the incisiveness characteristic of her style and writing, Esposito reads economics in innovative ways that disclose the hidden premises by which financial instruments trade and consume the prospects of the future.' – Jannis Kallinikos, London School of Economics, UK'Elena Esposito's analysis of financial markets and of their recent decline is radically different from the analyses which can be found in economic journals or books. Financial operations are reduced to their basic dimensions: time and money. Under this perspective, what is sold on financial markets is the possibility for the creation of commitments in the course of time, the possibility for the combination of these commitments with one another, and the identification of chances for the achievement of profit opportunities through the creation of specific combinations. The author argues that the recent crisis of the financial system was caused by oversimplified visions of the future and of risk leading to the consequence that options were not available in the present because all possibilities had been used up by the future. This oversimplified vision of the future imploded, and trust with it. The state tried to reconstruct options for the future in order to open up new possibilities and chances for learning. The author does not deliver recipes on how to prevent severe crises of the financial system in the future. Yet, her concept facilitates understanding of how financial futures are opened up or closed and thus provides insights into basic principles on whose basis future opportunities can be kept open and trust can be maintained. Innovative reforms of the financial system can only develop on the basis of unconventional analyses. Elena Esposito's book contains an analysis of this kind.'– Alfred Kieser, Mannheim University, Germany'Elena Esposito's book is a fundamental analysis of time in economics. With economic rigour underpinned by sociological reasoning, she explains the futures market more clearly than is possible with economic analysis alone. Economic concepts are considered in terms of time – actors deal in the present with future risks by transferring these risks to the present situation. As a result, we get more options and more risks at the same time: at present. No equilibrium will balance these trades because of the asymmetry of time: our actual decisions deal with our imagination of the future, that is, with the future of the present, but the results will be realized in the presence of the future – different modalities of time. The book is a sound reflection on modelling time in economic theory, a "must" for economists.'– Birger P. Priddat, Witten/Herdecke University, Germany'The Future of Futures is an original and intellectually provocative book which forces the reader to think. Esposito's essay fulfils two rather different functions. On the one hand, it brings new and persuasive arguments to bear against the erroneous thesis that the present financial crisis is merely due to human mistakes and to some specific government failures. On the other hand, the book suggests that only by reconsidering the role of time in the economy is it possible to make full sense of the crisis and to re-orient in a desired direction the future movements of money. It is a well-known fact that traditional economics has always adhered to a spatial conception of time, according to which time, like space, is perfectly reversible. Whence its inability both to understand how economies develop and to prescribe adequate policies. The author's proposal is to move steps ahead in the direction of an analysis of an economy in time, where both historical time and time as duration can find a place. Esposito's well-written, jargon-free book will capture the attention of anyone seriously interested in the future of our market systems.'– Stefano Zamagni, University of Bologna and Johns Hopkins University, Bologna Center, Italy This book reconstructs the dynamics of economics, beginning explicitly with the role and the relevance of time: 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.

Rescuing All Our Futures

The Future of Futures Studies

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Author: Ziauddin Sardar

Publisher: Praeger Publishers

ISBN: 9780275965594

Category: Political Science

Page: 258

View: 6441

Argues that the discipline of future studies is dominated by a single, myopic vision that is incapable of seeing outside the framework of western thought.

A Future of Choices

A Choice of Futures

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Author: Alberta. Commission on Educational Planning

Publisher: Edmonton, Alta. : L.S. Wall, Queen's printer

ISBN: N.A

Category: Education

Page: 325

View: 7630

The Future of Futures Studies

A Delphi Study with a German Perspective

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Author: Jan Oliver Schwarz

Publisher: N.A

ISBN: 9783832250133

Category: Business forecasting

Page: 113

View: 2868

Foundations of Futures Studies, Volume 1

Human Science for a New Era

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Author: Wendell Bell

Publisher: Transaction Publishers

ISBN: 9781412823791

Category: Social Science

Page: 408

View: 5508

Futures studies is a new field of inquiry involving systematic and explicit thinking about alternative futures. It aims to demystify the future, make possibilities for the future more known to us, and increase human control over the future. Author Wendell Bell brings together futurist intellectual tools, describing and explaining not only the methods, but also the nature, concepts, theories, and exemplars of the field. Now available in paperback with a new preface from the author, Foundations of Future Studies is the fundamental work on the subject. Bell illustrates how this sphere of intellectual activity offers hope for the future of humanity and concrete ways of realizing that hope in the real world of everyday life. His book will appeal to all interested in futures studies, sociology, economics, political science, and history.

The Future of Logistics

Scenarios for 2025

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Author: Heiko A. von der Gracht

Publisher: Springer Science & Business Media

ISBN: 9783834997647

Category: Business & Economics

Page: 309

View: 1191

Based on 51 interviews with logistics CEOs, strategists, and scenario experts, Heiko A. von der Gracht shows that the logistics service industry draws a backward picture of scenario planning practices as compared to other industries.

Foundations of Futures Studies

Volume 1: History, Purposes, and Knowledge

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Author: Jose Valciukas

Publisher: Routledge

ISBN: 1351519433

Category: Social Science

Page: 390

View: 7457

Futures studies is a new field of inquiry involving systematic and explicit thinking about alternative futures. It aims to demystify the future, make possibilities for the future more known to us, and increase human control over the future. This book summarizes and expands contributions of futurists to the envisioning power and well-being of humanity. Bell brings together futurist intellectual tools, describing and explaining not only the methods, but also the nature, concepts, theories, and exemplars of the field.Foundations of Futures Studies fulfills Bell's five main purposes for writing this two-volume effort: (1) to show that futures studies, like other fields from anthropology to zoology, exists as an identifiable sphere of intellectual activity; (2) to create a teaching instrument that can be used as a basic text for core courses in futures studies; (3) to futurize the thinking of specialists in other disciplines; (4) to contribute to the further development and improvement of futures studies; and (5) to provide tools to empower both ordinary people and leaders to act in ways that create better futures for themselves and their societies. Bell maintains that despite its sometimes doomsday rhetorical style and widespread use by special interests, futures studies offers hope for the future of humanity and concrete ways of realizing that hope in the real world of our everyday lives. It will appeal to all interested in futures studies, as well as sociologists, economists, political scientists, and historians.

Foundations of Futures Studies

Volume 2: Values, Objectivity, and the Good Society

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Author: Wendell Bell

Publisher: Routledge

ISBN: 1351519395

Category: Social Science

Page: 392

View: 3970

Futures studies is a new field of inquiry involving systematic and explicit thinking about alternative futures. Wendell Bell's two-volume work Foundations of Futures Studies is widely acknowledged as the fundamental work on the subject. In Volume 2, Bell goes beyond possible and probable futures to the study of preferable futures. He shows that concern with ethics, morality, and human values follows directly from the futurist purposes of discovering or inventing, examining, and proposing desirable futures. He examines moral judgments as an inescapable aspect of all decision-making and conscious action, even in the everyday lives of ordinary people.Now available in paperback with a new preface from the author, Volume 2 of Foundations of Futures Studies moves beyond cultural relativism to critical evaluation. Bell compares depictions of the good society by utopian writers, describes objective methods of moral judgment, assesses religion and law as sources of what is morally right, documents the existence of universal human values, and shows that if human beings are to thrive in the global society of the future, some human values must be changed.

Constructing Futures

Industry leaders and futures thinking in construction

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Author: Paul Chan,Rachel Cooper

Publisher: John Wiley & Sons

ISBN: 1444327844

Category: Technology & Engineering

Page: 240

View: 4566

There is growing interest in future scenario planning of theconstruction industry but a disconnect between thinking about thefuture at the policy-making level and implementing real change. Constructing Futures: industry leaders and futures thinkingin construction takes a thematic approach to the future of theUK construction industry by presenting the results of a series ofin-depth interviews conducted with leading construction figures andstructuring this material into chapters addressing the keycontemporary issues in the industry. These high-profile figures are drawn from a wide range ofstakeholder groups representing the realities of construction,including architects, client organisations (public-sector andprivate-sector), consultants, contractors, developers, lobby groupswith special interests, policy makers, professional institutions,and trade unions. A total of 15 influential figures were interviewed for the book,from Sir Michael Latham and Bob White to Wayne Hemmingway and KevinMcCloud. Part One looks to the past by reviewing a series of foresightstudies undertaken of the construction industry and re-presentingstories of our interviewees' lives to explain the development ofleadership in the context of the construction industry. In PartTwo, the authors look at the present and discuss two fundamentalissues: sustainable development and governance of the constructionindustry. In Part Three the book concludes with an afterthought forthe future, highlighting key lessons learnt putting forward aseries of research questions derived from this scholarly reflectionof 'futures thinking' in construction. Throughout, the authors juxtapose the views of the 15influential figures interviewed with a review of the salient pointsfound in the relevant and authoritative sources of theoreticalliterature, both in the mainstream literature and the field ofconstruction management. This allows the reader to benefit from thepractical insights of those interviews whilst gaining a rapidunderstanding of the key debates of the theoretical subject underscrutiny.

The Future of Policing

A Practical Guide for Police Managers and Leaders

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Author: Joseph A. Schafer,Michael E. Buerger,Richard W. Myers,Carl J. Jensen III,Bernard H. Levin

Publisher: CRC Press

ISBN: 1439837961

Category: Law

Page: 432

View: 995

As communities continue to undergo rapid demographic shifts that modify their composition, culture, and collective values, police departments serving those communities must evolve accordingly in order to remain effective. The Future of Policing: A Practical Guide for Police Managers and Leaders provides concrete instruction to agencies on how to promote successful policing by proceeding on a course informed by future trends and emerging community forces. Explores critical variables necessary for decision-making Designed for typical police departments with common structures, problems, and opportunities, this book offers a unique juxtaposition of real-life examples, futures research, emergent trends, and management implications. Each chapter provides a discussion of the professional literature, current and projected trends, and situations faced by agency executives and leaders. Through this multidimensional and contemporaneous approach, the book explores community and political variables crucial to the decision-making process. It describes methods that managers can employ to explore the future and prepare their agencies for possible, probable, and preferable trends and opportunities. Provides specific, concrete examples Drawn from the authors’ research, as well as their own instructional and practical experience in the policing profession, this volume goes beyond esoteric, theoretical analysis and instead provides practical and well-grounded strategies for those who aspire to become police managers or current managers wishing to improve their proficiency. Using futures research and methodologies as the foundation for the text, this volume prepares practitioners to meet the challenges of policing and police management in the 21st century.

Foundations of Futures Studies: History, purposes, and knowledge

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Author: Wendell Bell

Publisher: Transaction Pub

ISBN: 9780765805393

Category: Social Science

Page: 390

View: 4397

Futures studies is a new field of inquiry involving systematic and explicit thinking about alternative futures. It aims to demystify the future, make possibilities for the future more known to us, and increase human control over the future. Author Wendell Bell brings together futurist intellectual tools, describing and explaining not only the methods, but also the nature, concepts, theories, and exemplars of the field. Now available in paperback with a new preface from the author, Foundations of Future Studies is the fundamental work on the subject. Bell illustrates how this sphere of intellectual activity offers hope for the future of humanity and concrete ways of realizing that hope in the real world of everyday life. His book will appeal to all interested in futures studies, sociology, economics, political science, and history.

Hedging a portfolio with futures

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Author: Marco Scheidler

Publisher: GRIN Verlag

ISBN: 3638400794

Category: Business & Economics

Page: 25

View: 1477

Seminar paper from the year 2003 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, Wright State University (Raj Soin College of Business), 16 entries in the bibliography, language: English, abstract: Abstract Undertaking business always involves taking risk. The future development of a company and their business is more uncertain the higher the risk that the company is facing. Risk management is a important factor in operating business. With the development of future markets entrepreneurs and investors obtained another risk management tool that made it possible to reduce risk. Futures are derivatives that can be used either for speculating or risk management. Especially in the area of financial futures, a rapid growth could be observed during the last few decades. Almost every month a new type of contract appears to meet the needs of a continuously growing corporate and institutional market. This paper considers future contracts as hedging application to reduce price risk. Futures are standardized contracts to buy or sell an asset in the future. There are various types of futures which differ in the type of the underlying asset. Futures are traded at organized exchanges. We consider the trading of future, their requirements, and market participants and their motivation. Different commercial users of future contracts hedge in different ways. A long hedge is used to reduce price risk of an anticipated purchase whereas a short hedge reduces the price risk of an asset that is already held. If there is no exact, the hedgers needs matching, contract available, the hedger should use a cross hedging strategy. With all these strategies the hedger takes, to the asset opposite, a position in the future market that is highly correlated with the change in price of the asset in the spot market. Losses in one market are offset by gains in the other market. For a successful hedge it is essential to choose an appropriate contract and hedge ratio. Faults can result in losses. The example of hedging a stock portfolio shows the application of an index future and presents the behavior of the hedged portfolio in different scenarios of stock market development.

A choice of futures

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Author: F. Emery,M. Emery

Publisher: Springer Science & Business Media

ISBN: 1468469487

Category: Social Science

Page: 212

View: 9662

Exploration of the nature of human communication and the media is a pre requisite to any assessment of the likely future role of communications . . We cannot assume that the nature of these things is transparently obvious to everyone and therefore commonly understood. Three developments in recent decades should adequately warn against such an assumption. First, we had the fiasco of social scientists trying to apply Shannon's mathematical theory of information as if it were a theory of human communication. 'In Shannon's use of information we cannot speak of how much information a person has only how much a message has. ' (Ackoff and Emery, 1972, p. 145). They would not have wandered into that blind alley if they had stopped to think about the nature of human communication. Second was the belated but wholehearted acceptance of the Heider theory of balance and its subse quent wane. Its wane had nothing to do with its inherent merits. It waned because it could not survive on the Procrustean bed of the psychologists' theory of choice. It did not occur to the psychologists to question their as sumptions about how people made the choices that lead to purposeful com munication (Ackoff and Emery, 1972, p. 58). The last example has been the bitter and unended furore about McLuhan. This time the psychologists and sociologists haye been strangely quiet but we can be sure this does not imply acquiescence in McLuhan's views.

Lessons for the Future

The Missing Dimension in Education

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Author: Dr David Hicks,David Hicks

Publisher: Routledge

ISBN: 1134474490

Category: Education

Page: 168

View: 6878

Drawing on the latest research in futures studies, this book provides new insights into ways of helping both students and teachers think more critically and creatively about their own future and that of wider society. It acknowledges the crucial role of education in helping young people understand the nature of local and global change and the social and environmental impacts such change will have on their future. Setting out a clear educational rationale for promoting global and futures perspective in education, it provides helpful and stimulating examples of futures-orientated classroom activities. It also includes fascinating research into children's views of the future.

Advancing Futures

Futures Studies in Higher Education

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Author: James Allen Dator

Publisher: Greenwood Publishing Group

ISBN: 9780275969455

Category: Education

Page: 409

View: 5679

A distinguished group of futurists examine the current state of the field and assess its prospects for the future.

Futures

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Author: Institute for the Future

Publisher: N.A

ISBN: N.A

Category: Forecasting Periodicals

Page: N.A

View: 708

The Future of Nonprofits

Innovate and Thrive in the Digital Age

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Author: David J. Neff,Randal C. Moss

Publisher: John Wiley & Sons

ISBN: 1118063813

Category: Business & Economics

Page: 272

View: 8102

Ever heard of an internal entrepreneur? You might know the type. They’re kind of employee who pushes mercilessly towards the trends of the future. Often looked at as a little bit outside the mainstream, more often than not the decisions this internal entrepreneur makes on behalf of an organization pay off in spades. So what makes an internal entrepreneur? How can you, as a nonprofit, create a culture that rewards futuring, internal entrepreneurs and innovation and doesn’t shut it down? The book “The Future of Nonprofits: Thrive and Innovate in the Digital Age” helps organizations do those very things. Better predicting future trends helps to reshape culture, creating the kind of environment ripe for positive growth in this fast changing world we work in today. Designed for nonprofit employees on all levels, the book will become a go to handbook for those interested in adapting in the modern world, not looking to be left behind. The Future of Nonprofits helps organizations capitalize on internal innovation. Innovative nonprofits are able to better predict future trends to remake and reshape their culture, structure, and staff to be a more nimble and lean. By applying the strategies laid out in this book, nonprofit professionals of all levels can prepare their organizations to take advantage of future trends and develop innovative “internal entrepreneurs” that will grow revenue and drive their mission. Provides nonprofits with a comprehensive playbook on how to create a new, more flexible, innovative organization Provides nonprofits a look at the future of fundraising and communications trends into 2016 Case studies highlight successes and failures Highlights the power and strength of Social Media Hightlights how to hire, train, manage and inspire “internal entrepreneurial” employees Features actionable advice on creating an organization that is primed to grow and thrive in the immediate and long-term future This game-changing book reveals how every nonprofit can put technology, innovation and future trends to work to reach their mission and grow revenue.

Derivatives

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Author: Somanathan

Publisher: Tata McGraw-Hill Education

ISBN: 9780074633878

Category: Derivative securities

Page: 347

View: 2112

Written by a World Bank economist who has made an insightful study of derivatives, the book would be a valuable reference on the subject. It covers: A comprehensive theoretical and empirical treatment of the nature, functions, benefits and problems of forward and futures markets, with specific reference to India An analysis of carry forward trading (modified badla) in the Indian stock market An introduction to options, swaps, and other derivatives to provide a working knowledge of their nature and uses An analysis of market structure and the regulatory framework for derivatives An overview of accounting and tax treatment of derivatives Management of derivative risks Future evolution of derivatives in India and abroad Glossary of specialised terms.