Trying to Satisfy Financial Markets Is but a Vain Task

  • Marc ChesneyEmail author


This chapter focuses on the reason why satisfying financial markets is dangerous and illusory and explains why financial complexity generates profit and power for a very few and precariousness for the vast majority. The transformation process of the unemployed into working poor is emphasized. The concept of financial toxicity is introduced and the role of central banks is analysed.


Financial markets Working poor Central banks Austerity plans Complexity 


  1. Bank for International Settlements Report: Triennial Central Bank Survey Global Foreign Exchange Market Turnover in 2013, February 2014.Google Scholar
  2. Greece: An Update of IMF Staff’s Preliminary Public Debt Sustainability Analysis, IMF Country Report No. 15/186, 14 July 2015.Google Scholar
  3. Kraus, Karl, The Last Days of Mankind, Yale University Press, USA, 2015.Google Scholar
  4. Musil, Robert, The Man Without Qualities, Vintage, USA, 1996.Google Scholar
  5. Nyborg, Kjell G.: Collateral Frameworks: The Open Secret of Central Banks, Cambridge University Press, 2017.Google Scholar
  6. Poincaré, Raymond, Au service de la France, Paris, Plon, 1927.Google Scholar

Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Department of Banking and FinanceUniversity of ZurichZürichSwitzerland

Personalised recommendations