The Social Life of Financial Derivatives

“During the past forty years society has become increasingly financialized, driven by the growth of derivative assets and the derivative style of thinking. But the theory behind derivatives trading, though compelling in parts, leads to a practice involving ritual and magical thinking. Edward LiPuma appropriately brings an anthropologist’s eye to the role of derivatives and risk in society, providing a deep and fascinating account of how to turn derivatives’ power to the interests of the collective good.” - Emanuel Derman, author of Models.Behaving.Badly

"No other book engages the socialness of finance theory and market operation at so many levels and from so many different directions. And as an anthropologist and a trader there may be no one else in the world better qualified to discuss these issues than Edward LiPuma. His analysis is foundational for the study of the social in finance. A very important book." - Dick Bryan, coauthor of Capitalism with Derivatives: A Political Economy of Financial Derivatives, Capital, and Class

"[A] concise and unique point of view of the role of derivatives and their potential negative impact on our society.... LiPuma provides a necessary and important look at the obscure but consequential role of financial derivatives in the global economy.Highly recommended. Upper-division undergraduates through professionals." - R. M. Ramazani, Choice

"Extremely interesting in terms of opening new windows to the financial landscape." - Ehsan Lor Afshar, Anthropology Book Forum