Derivatives—Close the Casino

  • Christian Felber


This chapter is about the breathtaking development of financial derivatives. It shows how they contribute to instability, how much they are concentrated in the hands of very few investment banks and the key role they play in financial alchemy and the casino. “Table by table,” alternatives for the current “gaming practices” are proposed. As for shares, local common good exchanges that follow a different logic than capitalistic stock markets are proposed. With regard to government bonds, a concrete proposal has been presented in a previous chapter. Securities, composed of bank loans, are deemed as unnecessary—mortgage banks should bear the risks they create. Commodities are very sensitive both in terms of human rights and ecology—therefore democratic bodies not markets should determine commodity prices. Around these “main tables” of the global financial casino, some general proposals to stabilize and ethically develop the financial system are offered, such as the linkage of voting rights to a minimum holding period of assets.


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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  • Christian Felber
    • 1
  1. 1.Economics and BusinessVienna UniversityViennaAustria

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