Hostname: page-component-78c5997874-j824f Total loading time: 0 Render date: 2024-11-03T00:16:36.487Z Has data issue: false hasContentIssue false

Perpetual anarchy: From economic security to financial insecurity

Published online by Cambridge University Press:  09 November 2023

S.M. Amadae*
Affiliation:
Massachusetts Institute of Technology, USA
*
Corresponding author: S.M. Amadae, MassachusettsInstitute of Technology, 77 Massachusetts Avenue, Cambridge, MA 02139-4307, USA.Email: [email protected]
Rights & Permissions [Opens in a new window]

Extract

Core share and HTML view are not available for this content. However, as you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

This forum contribution addresses two major themes in de Goede's original essay on ‘Financial security’: (1) the relationship between stable markets and the proverbial ‘security dilemma’; and (2) the development of new decision-technologies to address risk in the post-World War II period. Its argument is that the confluence of these two themes through rational choice theory represents a fundamental re-evaluation of the security dilemma and its relationship to the rule of law governing market relations, ushering in an era of perpetual physical and financial insecurity.

Type
Forum: Conceptualising finance-security relations
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-No Derivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits noncommercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.
Copyright
Copyright © The Author(s) 2017

References

Amadae, S.M. (2003) Rationalizing Capitalist Democracy: The Cold War Origins of Rational Choice Liberalism. Chicago, IL: University of Chicago Press.Google Scholar
Amadae, S.M. (2016) Prisoners of Reason: Game Theory and Neoliberal Political Economy. Cambridge: Cambridge University Press.Google Scholar
Amadae, S.M. (2018) Computable rationality, NUTS, and the Nuclear Leviathan. In: Bessner, D. and Guilhot, N. (eds.) The Decisionist Imagination: Democracy, Sovereignty and Social Science in the 20th Century. New York, NY: Berghahn Books, in press.Google Scholar
Arrow, K.J. and Debreu, G. (1954) Existence of an equilibrium for a competitive economy. Econometrica, 22(3): 265–90.Google Scholar
Axelrod, R. and Keohane, R.O. (1985) Achieving cooperation under anarchy: Strategies and institutions. World Politics, 38(1): 226–54.Google Scholar
Aydinonat, N.E. (2008) The Invisible Hand in Economics: How Economists Explain Unintended Social Consequences. London: Routledge.Google Scholar
Becker, G.S. and Posner, R.A. (2009) Uncommon Sense: Economic Insights, From Marriage to Terrorism. Chicago, IL: University of Chicago Press.Google Scholar
Brams, S.J. (1985) Superpower Games: Applying Game Theory to Superpower Conflict. New Haven, CT: Yale University Press.Google Scholar
Buchanan, J.M. (1975) The Limits of Liberty: Between Anarchy and Leviathan. Chicago, IL: University of Chicago Press.Google Scholar
de Goede, M. (2010) Financial security. In: Burgess, J.P. (ed.) The Routledge Handbook of New Security Studies. London: Routledge, 100109.Google Scholar
Dunbar, N. (2000) Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It. New York, NY: John Wiley.Google Scholar
Erickson, P. (2015) The World the Game Theorists Made. Chicago, IL: University of Chicago Press.Google Scholar
Erickson, P. et al. (2013) How Reason Almost Lost Its Mind: The Strange Career of Cold War Rationality. Chicago, IL: University of Chicago Press.Google Scholar
Fama, E.F. (1991) Efficient capital markets: II. The Journal of Finance, 46(5): 1575–617.Google Scholar
Foucault, M. (2010) The Birth of Biopolitics: Lectures at the Collège de France, 1978-1979. Basingstoke: Palgrave Macmillan.Google Scholar
Friedman, M. and Savage, L.J. (1948) The utility analysis of choices involving risk. Journal of Political Economy, 56(4): 279304.Google Scholar
Friedman, M. and Savage, L.J. (1952) The expected-utility hypothesis and the measurability of utility. Journal of Political Economy, 60(6): 463–74.Google Scholar
Hobbes, T. (1991) Leviathan. Cambridge: Cambridge University Press.Google Scholar
Hont, I. and Ignatieff, M. (1983) Editors’ introduction. In: Hont, I. and Ignatieff, M. (eds.) Wealth and Virtue: The Shaping of Political Economy in the Scottish Enlightenment. Cambridge: Cambridge University Press, 144.Google Scholar
Kant, I. (1999) Metaphysical Elements of Justice: Part I of the Metaphysics of Morals. Indianapolis, IN: Hackett.Google Scholar
Kotz, D.M. (2015) The Rise and Fall of Neoliberal Capitalism. Cambridge, MA: Harvard University Press.Google Scholar
Kotz, D.M. (2016) Neoliberalism as the framing concept for contemporary capitalism. Manuscript prepared for American Political Science Association meetings, Philadelphia, September 2016.Google Scholar
Krasner, S.D. (1999) Sovereignty: Organized Hypocrisy. Princeton, NJ: Princeton University Press.Google Scholar
Leonard, R.J. (1992) Creating a context for game theory. History of Political Economy, 24: 2976.Google Scholar
Leonard, R.J. (2010) Von Neumann, Morgenstern, and the Creation of Game Theory: From Chess to Social Science, 1900-1960. Cambridge: Cambridge University Press.Google Scholar
Locke, J. (1988) Two Treatises of Government Student Edition. Cambridge: Cambridge University Press.Google Scholar
MacLean, N. (2017) Democracy in Chains: The Deep History of the Radical Right's Secret Plan for America. London: Scribe.Google Scholar
McCloskey, D.N. (2016) Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World. Chicago, IL: University of Chicago Press.Google Scholar
Mirowski, P. (1989) More Heat than Light: Economics as Social Physics, Physics as Nature's Economics. Cambridge: Cambridge University Press.Google Scholar
Mirowski, P. (2003) Machine Dreams: Economics Becomes a Cyborg Science. Cambridge: Cambridge University Press.Google Scholar
Mirowski, P. and Plehwe, D. (eds.) (2012) The Road from Mont Pèlerin: The Making of the Neoliberal Thought Collective. Cambridge, MA: Harvard University Press.Google Scholar
Neumann, J.v. and Morgenstern, O. (1947) Theory of Games and Economic Behavior. Princeton, NJ: Princeton University Press.Google Scholar
North, D.C. (1990) Institutions, Institutional Change and Economic Performance. Cambridge: Cambridge University Press.Google Scholar
Nozick, R. (1974) Anarchy, State, Utopia. New York, NY: Basic Books.Google Scholar
Rawls, J. (1970) A Theory of Justice. Cambridge, MA: Belknap Press.Google Scholar
Rothschild, E. and Sen, A. (2006) Adam Smith's economics. In: Haakonssen, K. (ed.) The Cambridge Companion to Adam Smith. Cambridge: Cambridge University Press, 319–65.Google Scholar
Sachs, J.D. (2016) Happiness and sustainable development: Concepts and evidence. World Happiness Report 2016. Available at: <http://flexclay.com.au/wp-content/uploads/2016/07/report1.pdf>. Accessed 12 December 2017..+Accessed+12+December+2017.>Google Scholar
Schelling, T.C. (1960) Strategy of Conflict. Cambridge, MA: Harvard University Press.Google Scholar
Schelling, T.C. (1968) The life you save may be your own. In: Samuel, B. Chase, S.B. Jr (ed.) Problems in Public Expenditure Analysis. Washington, DC: Brookings Institution, 127–62.Google Scholar
Schelling, T.C. (1978) Micromotives and Macrobehavior. New York, NY: W.W. Norton & Co.Google Scholar
Smith, A. (1982/1759) The Theory of Moral Sentiments. Indianapolis, IN: Liberty Fund.Google Scholar
Smith, A. (1776) An Inquiry Into the Nature and Causes of the Wealth of Nations. Volume 1. W. Strahan and T. Cadell, in the Strand.Google Scholar
Thomas, W. (2015) Rational Action: The Sciences of Policy in Britain and America, 1940-1960. Cambridge, MA: MIT Press.Google Scholar