Workshop I – Brighton

The starting point

16-18 May 2018

Money, financialization and finance capitalism: The nature of the changes triggered by recent forms of financialization is contested. The expansionary nature of capitalist money, the de-coupling and re-coupling of the financial and the real sphere have been recurrent. What is more, the relationship between capital and labor, and between capital and the state has sometimes been more cooperative and at times conflictive. Is there anything new in current practices of fiat money creation, asset and liability management and the entrenched position of rentiers? Or are we just witnessing another form of capitalist crisis, tied to the contradictions enshrined in the labor-capital relation, money, capital and the international division of labor?

 

SCHEDULE

Financialisation and the future of money

 

1st workshop of the politics of money network

www.politicsofmoney.org

 

University of Sussex, Brighton

16-18 May 2018

 

 

Wednesday 16 May

 

17h00-19h00: Plenary: Financialisation and the Future of Money

Fulton 104

 

Michael Beggs (University of Sidney)

Daniela Gabor (UWE Bristol)

Kai Koddenbrock (University of Duisburg-Essen)

Yeva Nersisyan (Franklin & Marshall College)

 

Thursday 17 May

The workshop will be held in Art C 333

 

10h00-10h15  Welcome

 

 

10h15 – 12h15 Session 1

Chair: Andreas Nölke (Goethe University Frankfurt)

 

– Stefano Sgambati (City University, London): Banking as leverage

– Samuel Knafo (University of Sussex): Financialisation and the turn to liability management of investment banking in the 1980s

– Daniela Gabor (UWE Bristol): (Shadow) money as a time machine

 

 

13h30-14h30 Session 2

Chair: Amin Samman (City University, London)

 

Yeva Nersisyan (Franklin & Marshall College): Rethinking Liquidity Creation: Banks, Shadow Banks and the Elasticity of Finance

 

 

15h00-16h00 Session 3

Chair: Daniela Gabor (UWE Bristol)

 

Engelbert Stockhammer (Kingston University): The impact of financialisation on the wage share: a theoretical clarification and empirical test

 

16h30-17h50 Session 4

Chair: Marieke Beck (University of Sussex)

 

– Annina Kaltenbrunner (Leeds University): Financialisation and the structure of the international monetary system

– Kai Koddenbrock (University of Duisburg-Essen): The political economy of monetary dependency

 

Afterwards: Joint dinner and drinks

 

 

Friday, 18 May

 

9h15-10h35 Session 5

Chair: Samuel Knafo (University of Sussex)

 

– Jan Fichtner (University of Amsterdam): The Rise of Institutional Investors

– Caroline Metz (University of Manchester): Securitisation

 

 

11h00-12h00 Session 6

Chair: Marina Hübner (Max Planck Institute)

 

Michael Beggs (University of Sidney): A critique of credit theories of money

 

 

Lunch

 

13h15-14h45 Session 6

Chair: Oliver Kessler (University of Erfurt)

 

– Steffan Murau (Harvard University): Offshore dollar creation in the post-2008 international monetary system

– Joscha Wullweber (University of Kassel): The political economy of liquidity chains

 

 

15h10-16h30 Session 7

Chair: Sandy Hager (City University, London)

 

– Benjamin Braun (Max Planck Institute), Arie Krampf (Academic College of Tel Aviv Yaffo), Steffen Murau(Harvard University), Re-organizing the world’s money: Technocrats, bankers, and the Eurodollar market

– Matthias Thiemann (Sciences Po): Is resilience enough? Why is there no anti-cyclical regulation in financial markets post-crisis and what it means for financialization?

 

 

16h45-17h30

 

Concluding discussion, including on the book project