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Erschienen in:
2006 | OriginalPaper | Buchkapitel
A New Perspective on the Role of Finance
verfasst von : Dick Bryan, Michael Rafferty
Erschienen in: Capitalism with Derivatives
Verlag: Palgrave Macmillan UK
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Debates about the role of derivatives are only now emerging. Some see them as mathematically elegant tools of risk management; others, as dangerous tools of speculation. These widely divergent interpretations tend to constitute rather discrete and non-interacting analyses, reflecting disparate world-views. In particular, it is hard to find research published in the leading academic finance journals that countenances notions of gambling or engages propositions of social disorder created by ‘hot money’. With notable exceptions,1 few of the outright critics of the impact of derivatives bother with the mechanics.