Anthony J. Pennings, PhD

WRITINGS ON DIGITAL STRATEGIES, ICT ECONOMICS, AND GLOBAL COMMUNICATIONS

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 […]

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 […]

How IT Came to Rule the World, 2.1: Data Technology and Money

Data communication systems moved quickly from military experimentation to commercial exploitation as banks, news agencies, and other corporate actors who were moving branches and factories offshore utilized these new technologies.

How IT Came to Rule the World, Digital Monetarism

While the idea of a regime is meant to be fluid, digital monetarism can be given a start date: On August 15, 1971, President Nixon shocked with world with his surprise television announcement that he was “closing the gold window” and no longer honoring the redemption of dollars for gold.

HOW IT CAME TO RULE THE WORLD, 1.0 and 1.1

To these ends a massive mobilization of capital and technological means was initiated. Over the next few decades, tensions increased and investments in military electronics and space-based technologies led to the first electronic computers and major advances in telecommunications, including satellites for remote sensing and communications.

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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.