Dance in the Global Village: Cosmopolitans' Dance in the Global Village: Shareholders, Stakeholders, Index-Trackers, Bondholders, Options TradersAuthorHouse, 2008 - 296 pages This treatise introduces the figures of shareholder, stakeholder, index tracker, bondholder and options trader as cosmopolitan financial actors in order to describe and explain the development of global capitalism with regard to a series of more or less different capitalisms. The terms shareholder and bondholder are generally known. Stakeholders appear less frequently although the economic players have taken over the role of stakeholder mostly without realising it. Options traders are chiefly professional stock exchange players but, in view of the enlargement and democratisation of global financial capitalism, more and more knowledgeable laymen also develop into options traders. The figure of index tracker is relatively new. However, he does not act as a capitalist maximiser of profits, but contents himself with reaching an index. His behaviour can be characterised as being "watchful waiting". These figures emerging everywhere form a cleverly designed pattern in order to outline the mechanisms and institutions of global capitalism. A typology of capitalisms is introduced for its "diversity in uniformity", illustrated by the Ferris Wheel of capitalism. This treatise deals with the modern essentials of cosmopolitan capitalist economy: free trade and mobility of capital, direct investments, migration, global labour arbitrage. The capitalist development and time analysis ranges from laissez-faire capitalism, from speculation and corruption to principal-agent relations and from the world economic crisis to irrational exuberance. The international policy differences are illustrated by the hawks and doves of economic policy. Finally, the Epilogue develops the political economy of cosmopolites in the Global Village into the ten commandments of capitalist civil religion. The author of this treatise is a social economist, financial sociologist, social philosopher and obviously also an insider of practised financial capitalism. He has an excellent command of standard econ |
Contents
NOTES REGARDING THE TITLE | 1 |
THE PERSPECTIVE OF INSIDERS | 13 |
SIGNPOSTS OF GLOBALISATION | 22 |
A FREE LUNCH | 34 |
STAGES OF CAPITALISM | 74 |
FROM ANTICAPITALISTS TO STAKEHOLDERS | 98 |
TYPOLOGIES AND CAPITALISMS | 116 |
RELATIONS CAPITALISM | 131 |
ANACHRONISM? | 153 |
ACCORDING TO GOETHES POEM | 185 |
VERSUS BONDHOLDER | 200 |
CULTURE TO MURPHYS LAW | 229 |
THE TEN COMMANDMENTS OF | 257 |
BIBLIOGRAPHY | 273 |
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Dance in the Global Village: Cosmopolitans' Dance in the Global Village ... Lothar F. Neumann No preview available - 2008 |
Common terms and phrases
able allocation American appears Asia Asiatic aspect assets bets bondholders bonds bubbles capitalist civil religion central banks chiefly China civil religion companies corporate corruption cosmopolitan currency deficit democracy discussion diversification Dollar Dow Jones economic policy economic theory economy players environmental EUREX Euro Europe European Central Bank European Union example exchange rates favour financial markets free lunch free trade function fundamental global capitalism Global Village globalisation growth hedge funds income index certificates Index investing index tracker industrial industrialised countries inflation institutional investors interest rates investment Japan Keynesian labour long term macro-economic meanwhile million Milton Friedman monetary policy NAIRU options traders organisation overall economic particularly pension period political population portfolio possible principle privatisation problem productivity result second World second World War sector share price shareholder value social spread stakeholders strike price structure Thou shalt town trade unions unemployment United wages Washington Consensus Whilst worldwide