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Capturing Finance Carolyn Hardin

Capturing Finance By Carolyn Hardin

Capturing Finance by Carolyn Hardin


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Summary

Carolyn Hardin offers a new way of understanding arbitrage-the trading practice that involves buying assets in one market at a cheap price and immediately selling them in another market for a profit-as a means of showing how its reliance upon taking on risk is fundamental to financial markets.

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Capturing Finance Summary

Capturing Finance: Arbitrage and Social Domination by Carolyn Hardin

Arbitrage-the trading practice that involves buying assets in one market at a cheap price and immediately selling them in another market for a profit-is fundamental to the practice of financial trading and economic understandings of how financial markets function. Because traders complete transactions quickly and use other people's money, arbitrage is considered to be riskless. Yet, despite the rhetoric of riskless trading, the arbitrage in mortgage-backed securities led to the 2008 financial crisis. In Capturing Finance Carolyn Hardin offers a new way of understanding arbitrage as a means for capturing value in financial capitalism. She shows how arbitrage relies on a system of abstract domination built around risk. The commonsense beliefs that taking on debt is necessary for affording everyday life and that investing is necessary to secure retirement income compel individuals to assume risk while financial institutions amass profits. Hardin insists that mitigating financial capitalism's worst consequences, such as perpetuating class and racial inequities, requires challenging the narratives that naturalize risk as a necessary element of financial capitalism as well as social life writ large.

Capturing Finance Reviews

In this compelling work, Carolyn Hardin zeroes in on the founding paradox of modern finance-arbitrage or the possibility of risk-free gain-to illuminate the system of abstract capture in which we live. A bold new voice, Hardin updates the critique of capitalism for a financial age and proposes a new politics of risk-based solidarity for our times. -- Melinda Cooper, author of * Family Values: Between Neoliberalism and the New Social Conservatism *
This brilliant and beautifully written book sets a new standard for the social study of finance by exposing the paradox that arbitrage, the most frequent evil in the theory of finance, is the most reliable producer of financial profits in financial markets. This is a book for all scholars, both within and outside business schools, who want to find alternatives to the hegemony of finance in our everyday lives. -- Arjun Appadurai, Paulette Goddard Professor of Media, Culture, and Communication, New York University
Capturing Finance provides a robust framework for analyzing arbitrage and the financial system it underpins. Drawing chiefly on Moishe Postone, with a touch of Deleuze and Guattari, Hardin combines a precise and flexible theoretical apparatus . . . with detailed technical analysis. -- Jordan Sjol * Journal of Cultural Economy *

About Carolyn Hardin

Carolyn Hardin is Assistant Professor of Media and Culture and American Studies at Miami University.

Table of Contents

Acknowledgments ix
Introduction. Into the Lion's Den 1
1. Capitalism as Capture 11
2. Arbitrage in Theory 33
3. Arbitrage IRL 49
4. The Postonian Turn 68
5. Money Machines 87
6. The Emperor's New Clothes 105
Conclusion. A Politics of Risk 120
Notes 131
References 143
Index 155

Additional information

CIN1478014296VG
9781478014294
1478014296
Capturing Finance: Arbitrage and Social Domination by Carolyn Hardin
Used - Very Good
Paperback
Duke University Press
2021-08-13
176
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - Capturing Finance