Anthony J. Pennings, PhD

WRITINGS ON DIGITAL STRATEGIES, ICT ECONOMICS, AND GLOBAL COMMUNICATIONS

THE EXPERIMENT, Part I: NEW ZEALAND AS THE WORLD MODEL FOR DIGITAL MONETARISM

Starting “Down Under” One of the first “guinea pigs” for the new system of digital monetarism was New Zealand. A one time a leader in the development of the “welfare state,” the small two-island nation-state in the deep Pacific Ocean had run into economic problems by the early 1980s. It had borrowed heavily during the […]

Digital Spreadsheets – Part 5 – Ease and Epistemology

To pick up the story, I started this analysis of the spreadsheet looking at the emergence of Lotus 1-2-3 within the context of the 1980s. This included the importance of the personal computer and the Reagan Revolution – characterized the by the commercialization of Cold War technologies, and the globalization and increasing financialization of individual […]

When Finance Went Digital

By the end of the 1970s, a basic domestic and international data communications system was created that provided for the regime of digital monetarism to expand around the world. Drawing on ARPANET technologies, a set of standards emerged that was conducive to the public-switched telephony networks operated by the national telecom authorities such as France […]

Origins of Currency Futures and other Digital Derivatives

Thus, it was fitting that Chicago emerged as the Risk Management Capital of the World—particularly since the 1972 introduction of financial futures at the International Monetary Market, the IMM, of the CME. – Leo Melamed to the Council of Foreign Relations, June 2004 International currency exchange rates began to float in the post-Bretton Woods environment […]

Fed Watcher’s Handbook is on Amazon

The world is abuzz with talk about US Federal Reserve and whether it will raise interest rates in September. Interest rates have hovered near 0 percent since 2008, and a rate hike to .25% or .5% is possible. Analysts are asking basic questions: Is the economy strong enough? What do we make of economic problems […]

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 […]

The Surveilling Eye of Global Financial News

Surveillance of the world is considered an important function of media systems and plays a unique role in the financial industry. Furthermore, it is important to place the analysis of financial news within the political context of a larger techno-structural environment of global financial trading that works to discipline countries, companies and people around the world. The implications of this global web have been amplified by the extraordinary volume and velocity of the system that sees tens of trillions of dollars of trades transacted every day.

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 […]

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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.

    You can reach me at:

    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.