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The Future of Futures: The Time of Money in Financing and Society

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The Future of Futures: The Time of Money in Financing and Society

4.85 35,950 ratings · 8,255 reviews
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Overview: `Within the cacophony of voices trying to explain the recent financial crisis, Elena Esposito's voice sounds clear and deep. Steering away from simplistic condemnations and equally simplistic prescriptions for betterment, she connects the very invention of derivatives to that eternal human hope - of controlling the future. While the task is impossible, the attempts never stop, and the very process of attempting it brings some consolation. And while derivatives can be seen, claim sociologists of finance, as performative, that is shaping the future they promise to control, even this is far from certain. Esposito's fascinating and beautiful work is an important contribution to the sociology of finance, a subdiscipline of sociology that took on itself an extremely important task of explaining how the finance markets really work.' - Barbara Czarniawska, University of Gothenburg, Sweden `This is a brilliant and timely book that shows how financing is centrally implicated in the very unpredictability and uncertainty it purports to master. With the incisiveness characteristic of her style and writing, Esposito reads economics in innovative ways that disclose the hidden premises by which financial instruments trade and consume the prospects of the future.' - Jannis Kallinikos, London School of Economics, UK`Elena Esposito's analysis of financial markets and of their recent decline is radically different from the analyses which can be found in economic journals or books. Financial operations are reduced to their basic dimensions: time and money. Under this perspective, what is sold on financial markets is the possibility for the creation of commitments in the course of time, the possibility for the combination of these commitments with one another, and the identification of chances for the achievement of profit opportunities through the creation of specific combinations. The author argues that the recent crisis of the financial system was caused by oversimplified visions of the future and of risk leading to the consequence that options were not available in the present because all possibilities had been used up by the future. This oversimplified vision of the future imploded, and trust with it. The state tried to reconstruct options for the future in order to open up new possibilities and chances for learning. The author does not deliver recipes on how to prevent severe crises of the financial system in the future. Yet, her concept facilitates understanding of how financial futures are opened up or closed and thus provides insights into basic principles on whose basis future opportunities can be kept open and trust can be maintained. Innovative reforms of the financial system can only develop on the basis of unconventional analyses. Elena Esposito's book contains an analysis of this kind.' - Alfred Kieser, Mannheim University, Germany`Elena Esposito's book is a fundamental analysis of time in economics. With economic rigour underpinned by sociological reasoning, she explains the futures market more clearly than is possible with economic analysis alone. Economic concepts are considered in terms of time - actors deal in the present with future risks by transferring these risks to the present situation. As a result, we get more options and more risks at the same time: at present. No equilibrium will balance these trades because of the asymmetry of time: our actual decisions deal with our imagination of the future, that is, with the future of the present, but the results will be realized in the presence of the future - different modalities of time. The book is a sound reflection on modelling time in economic theory, a "must" for economists.' - Birger P. Priddat, Witten/Herdecke University, Germany`The Future of Futures is an original and intellectually provocative book which forces the reader to think. Esposito's essay fulfils two rather different functions. On the one hand, it brings new and persuasive arguments to bear against the erroneous thesis that the present financial crisis is merely due to human mistakes and to some specific government failures. On the other hand, the book suggests that only by reconsidering the role of time in the economy is it possible to make full sense of the crisis and to re-orient in a desired direction the future movements of money. It is a well-known fact that traditional economics has always adhered to a spatial conception of time, according to which time, like space, is perfectly reversible. Whence its inability both to understand how economies develop and to prescribe adequate policies. The author's proposal is to move steps ahead in the direction of an analysis of an economy in time, where both historical time and time as duration can find a place. Esposito's well-written, jargon-free book will capture the attention of anyone seriously interested in the future of our market systems.' - Stefano Zamagni, University of Bologna and Johns Hopkins University,...

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Published April 1, 2011
ISBN 12376981
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Elena Esposito
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Elena Esposito is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, Elena Esposito can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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Elizabeth Ramirez
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Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
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I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend.
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I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
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Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre.
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I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
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Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
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A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel.
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I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
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Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem.
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Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
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Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
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Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel.
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I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers.
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I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
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Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
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A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers.
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Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
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Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
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Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend.
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Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
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A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
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Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Elizabeth Rodriguez
Elizabeth Rodriguez August 19, 2024
Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre.
Patricia Flores
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I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me.
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I find myself somewhat conflicted. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Unlikely to reread, but a reasonable expenditure of time.
Matthew Perez
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An acceptable diversion. Certain acts were fascinating, while others felt like a slight endeavor to complete. Perhaps more aligned with a different audience's tastes.
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Jacob Robinson May 20, 2025
Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
Rebecca  Parker
Rebecca Parker February 21, 2025
Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
John Nelson
John Nelson January 03, 2025
Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
David Hall
David Hall December 30, 2024
Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
Linda Garcia
Linda Garcia December 27, 2025
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
Sarah Mitchell
Sarah Mitchell May 21, 2024
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
Dorothy Miller
Dorothy Miller December 24, 2025
I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
Carol Young
Carol Young November 05, 2025
Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. Quite impressive overall.
Christopher Turner
Christopher Turner July 01, 2024
Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall.
Jessica Gomez
Jessica Gomez September 28, 2025
Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading.
Karen Lee
Karen Lee April 11, 2025
Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Michelle Allen
Michelle Allen April 17, 2025
An acceptable diversion. Certain acts were fascinating, while others felt like a slight endeavor to complete. A fair 3 stars.
Joseph Garcia
Joseph Garcia February 17, 2025
Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
Carol  Davis
Carol Davis September 25, 2025
A very strong entry. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall.
Christopher Rodriguez
Christopher Rodriguez March 09, 2024
Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
Betty Thomas
Betty Thomas March 28, 2024
Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
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