The time that money requires: Use of the future and critique of the present in financial valuation

2020 ◽  
Vol 6 (2) ◽  
pp. 95-113
Author(s):  
Fabian Muniesa ◽  
Liliana Doganova
Keyword(s):  
Investment Decisions ◽  
Financial Valuation ◽  
The Future ◽  
History Of ◽  
Future Value ◽  
Philosophical Implication ◽  
Sociology Of Finance ◽  
Uncertain Future ◽  
Political Technology

The future is persistently considered in the sociology of finance from two divergent, problematic angles. The first approach consists in supplementing financial reasoning with an acknowledgement of the expectations that are needed in order to cope with an uncertain future and justify the viability of investment decisions. The second approach, often labelled critical, sees on the contrary in the logic of finance a negation of the future and an exacerbation of the valuation of the present. This is an impasse the response to which resides, we suggest, in considering the language of future value, which is indeed inherent to a financial view on things, as a political technology. We develop this argument through an examination of significant episodes in the history of financial reasoning on future value. We explore a main philosophical implication which consists in suggesting that the medium of temporality, understood in the dominant sense of a temporal progression inside which projects and expectations unfold, is not a condition for but rather a consequence of the idea of financial valuation.

Discounting the Future

Futures ◽  
2021 ◽  
pp. 379-394
Author(s):  
Liliana Doganova
Keyword(s):  
Pharmaceutical Research ◽  
Capital Budgeting ◽  
The Political ◽  
Allocation Of Resources ◽  
Collective Decisions ◽  
The Future ◽  
History Of ◽  
Political Technology ◽  
Pharmaceutical Research And Development ◽  
Economic Instrument

This chapter analyses the political, environmental, and human implications of acts of discounting. Discounting is an economic instrument used by companies and policymakers to make the future commensurate with the present. This chapter argues that discounting is a political technology: it embeds debatable assumptions about value and the future, and it produces tangible effects in an expanding range of empirical domains. Drawing on examples from the history of discounting (capital budgeting, forest management, environmental regulation, and pharmaceutical research and development), the chapter discusses four of its political qualities. First, discounting equips collective decisions about the allocation of resources; second, it shapes the characteristics of future entities; third, it is an instrument for governing behaviour that guides decision-making in a myriad of places and instances; and fourth, it problematizes the very separation of the present and the future.

A Dynamic Systems Approach to Personality

2001 ◽  
Vol 6 (3) ◽  
pp. 172-176 ◽  
Author(s):  
Lawrence A. Pervin
Keyword(s):  
Dynamic Systems ◽  
Systems Approach ◽  
Biological Processes ◽  
Recent Advances ◽  
Dynamic View ◽  
The Future ◽  
History Of

David Magnusson has been the most articulate spokesperson for a holistic, systems approach to personality. This paper considers three concepts relevant to a dynamic systems approach to personality: dynamics, systems, and levels. Some of the history of a dynamic view is traced, leading to an emphasis on the need for stressing the interplay among goals. Concepts such as multidetermination, equipotentiality, and equifinality are shown to be important aspects of a systems approach. Finally, attention is drawn to the question of levels of description, analysis, and explanation in a theory of personality. The importance of the issue is emphasized in relation to recent advances in our understanding of biological processes. Integrating such advances into a theory of personality while avoiding the danger of reductionism is a challenge for the future.

A Reflection on Crucial Periods in 50 Years of Social Psychology (in Germany)

2019 ◽  
Vol 50 (1) ◽  
pp. 1-6
Author(s):  
Katja Corcoran ◽  
Michael Häfner ◽  
Mathias Kauff ◽  
Stefan Stürmer
Keyword(s):  
Social Psychology ◽  
Early Development ◽  
West Germany ◽  
East And West Germany ◽  
The Future ◽  
History Of ◽  
East And West

Abstract. In this article, we reflect on 50 years of the journal Social Psychology. We interviewed colleagues who have witnessed the history of the journal. Based on these interviews, we identified three crucial periods in Social Psychology’s history, that are (a) the early development and further professionalization of the journal, (b) the reunification of East and West Germany, and (c) the internationalization of the journal and its transformation from the Zeitschrift für Sozialpsychologie to Social Psychology. We end our reflection with a discussion of changes that occurred during these periods and their implication for the future of our field.

The future of the history of psychology in Argentina and Brazil.

2016 ◽  
Vol 19 (3) ◽  
pp. 229-247 ◽  
Author(s):  
Hugo Klappenbach ◽  
Ana Maria Jacó-Vilela
Keyword(s):  
History Of Psychology ◽  
The Future ◽  
History Of

Karl Marx’s Legacy: The Historical Overview

2007 ◽  
pp. 87-103
Author(s):  
R. Nureev
Keyword(s):  
Marxist Theory ◽  
Neoclassical Economic ◽  
Historical Overview ◽  
Economic Theories ◽  
The Future ◽  
History Of ◽  
Western Marxism

The article is devoted to the history of reception and interpretation of the ideas of Marx and Engels. The author considers the reasons for divergence between Marxist and neoclassical economic theories. He also analyzes the ways of vulgarization of Marx’s theory and the making of Marxist voluntarism. It is shown that the works of Marx and Engels had a certain potential for their over-simplified interpretations. The article also considers academic ("Western") Marxism and evaluates the prospects of Marxist theory in the future.

Post-Soviet economy development: From the past to the future

2017 ◽  
pp. 5-21 ◽  
Author(s):  
E. Yasin
Keyword(s):  
Present Situation ◽  
Soviet Economy ◽  
Market Reforms ◽  
Democratic Development ◽  
The Past ◽  
Current Period ◽  
The Future ◽  
History Of ◽  
Working Out ◽  
A Current

The article is devoted to major events in the history of the post-Soviet economy, their influence on forming and development of modern Russia. The author considers stages of restructuring, market reforms, transformational crisis, and recovery growth (1999-2011), as well as a current period which started in2011 and is experiencing serious problems. The present situation is analyzed, four possible scenarios are put forward for Russia: “inertia”, “mobilization”, “decisive leap”, “gradual democratic development”. More than 30 experts were questioned in the process of working out the scenarios.

Chasing Angels: The Sweet Wine Angelica

2008 ◽  
Vol 8 (3) ◽  
pp. 74-78
Author(s):  
hank shaw
Keyword(s):  
The State ◽  
The Real ◽  
Mission Period ◽  
History Of ◽  
Uncertain Future ◽  
Sweet Wine ◽  
Made In

Portugal has port, Spain has sherry, Sicily has Marsala –– and California has angelica. Angelica is California's original wine: The intensely sweet, fortified dessert cordial has been made in the state for more than two centuries –– primarily made from Mission grapes, first brought to California by the Spanish friars. Angelica was once drunk in vast quantities, but now fewer than a dozen vintners make angelica today. These holdouts from an earlier age are each following a personal quest for the real. For unlike port and sherry, which have strict rules about their production, angelica never gelled into something so distinct that connoisseurs can say, ““This is angelica. This is not.”” This piece looks at the history of the drink, its foggy origins in the Mission period and on through angelica's heyday and down to its degeneration into a staple of the back-alley wino set. Several current vintners are profiled, and they suggest an uncertain future for this cordial.

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