Anthony J. Pennings, PhD

WRITINGS ON DIGITAL STRATEGIES, ICT ECONOMICS, AND GLOBAL COMMUNICATIONS

Reviewing Castells’ Global Automaton

In my long-term quest to find some answers as to what constitutes the techno-informational framework of the global financial system, I ran across Manuel Castells’ description of the “Automaton” a number of years ago. He wrote a chapter called “Information Technology and Global Capitalism” in Global Capitalism (2000) where he made some linkages between the […]

Bitcoins and the Properties of Money

“Money is a matter of functions four, a medium, a measure, a standard, a store.” – Lyrical couplet used to memorize the roles of money. Bitcoin emerged during the Great Recession to challenge the notion of official money and particularly its political and symbolic connection to a national system. While the US and much of […]

The Fedwire Network and Open Market Operations of the Federal Reserve

I’ve been studying financial technology since I did my masters degree on global money and telecommunications networks. One of the most intriguing examples is the US Federal Reserve’s Fedwire network. Probably the most secure data network in the world, it has been designed to provide a wide range of services for financial institutions such as […]

Electric Money Never Sleeps

Money used to sleep a lot. It would nap while waiting for a telex message to go out. It would doze off while waiting for a telephone connection. It would slumber on railroad routes. It would hibernate on transoceanic crossings. By the mid-20th century, money developed insomnia. Computers and telecommunications were being used together to […]

How IT Came to Rule the World-The Information Standard and Other Sovereignties

President Nixon’s decision to close the gold window in 1971 signaled a dramatic shift in the US international financial policy and the future of the world political economy. The move largely meant the end of the containment of international finance set up at the end of World War II. No longer was the US constrained […]

Money and Motivation in Star Trek

A perennial SF question of mine was asked in the movie Star Trek: First Contact (1996), when the starship Enterprise E of Star Trek: Next Generation fame goes back into time to Earth, circa 2063, about a decade after World War III ends. They are following a Borg ship that is attacking early Earth to […]

How IT Came to Rule the World, 2.4: Global Money and Spreadsheet Capitalism

Spreadsheet technology was foundational for digital monetarism because it provided a calculative tool that became universally available and provided immediate feedback via the accessibility of the personal computer.

How IT Came to Rule the World, 2.2: Eurodollars, Petrodollars

How did this world of global digital monetarism emerge? How did fluid capital transcend the containment policies and boundaries erected in the period up to 1970s to develop in the 1980s and beyond into a global financial environment where computerized algorithmic trading have created complex high transactional volume markets for an array of currency derivatives, stock index futures, CDOs and other computer based financial instruments?

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  • About Me

    Professor and Associate Chair at State University of New York (SUNY) Korea. Recently taught at Hannam University in Daejeon, South Korea. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, media economics, and strategic communications.

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    anthony.pennings@gmail.com
    anthony.pennings@sunykorea.ac.kr

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    The opinions expressed here do not necessarily reflect the views of my employers, past or present.