Financial Derivatives and the Globalization of Risk

“I am certain that Financial Derivatives and the Globalization of Risk will appeal to all those in fields such as political economy, globalization, cultural studies, social and political studies, as well as financial and business communities.” - Zabedia Nazim , Canadian Review of Sociology

“The book consists of seven chapters, including a very readable layman’s introduction to the financial instruments in question, and nice treatment of the history of global financialization, the institutions through which finance operates, an important chapter on the calculation of risk, and a chapter on
the uneven global impact of those calculations. It also has a handy glossary. I appreciated its easy style as well as its theoretical flourishes. If it contains some of the breeziness of the business publications it treats as parts of the culture of finance, it also by doing so has the potential to reach wider readerships as well as reasonably well-informed students. The most important contribution here, to my mind, is the argument about the new public imaginaries set in motion by the circulations the book opens up, and the vivisection of liberal forms of sovereignty that wagers on risk perform.” - Bill Maurer , Comparative Studies in Society and History

“The perspectives of LiPuma and Lee on derivatives markets are iconoclastic. As a result, this book provides readers with some fresh ideas on possible endogenous and exogenous causes and effects of international financial market development. . . . [T]here are many interesting and thoughtful insights in this book.” - John E. Marthinsen , American Journal of Economics and Sociology

“The prominence of a new kind of speculative finance capital in organizing global order and disorder is a topic of vital contemporary importance. By addressing this topic, this short, clear account advances the somewhat muddled debates over economic globalization.” - Craig Calhoun, president of the Social Science Research Council