Weak Domestic Dollar, Strong Global Dollar
Currently the dollar is weak domestically and strong globally. In this post, I examine the dynamics of the US dollar and why it operates differently within the domestic US and globally.
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 […]
Geopolitical Risk and the Information Standard
Like the traditional Gold Standard, the Information Standard is no panacea for the management of the global economy. Both impose restrictions on national political structures and policy decision-making.
How IT Came to Rule the World-The Information Standard and Other Sovereignties
This global information standard became a sovereign power in its own right. Nation-states and organizations were caught up in the opportunities and consequences of the new financial trading system that began to structure modern life along the dictates of a new techno-economic imperative.
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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Referencing this Material
About Me
Professor (full) at State University of New York (SUNY) Korea since 2016. Research Professor for Stony Brook University. 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, digital economics, and global political economy
You can reach me at:
anthony.pennings@gmail.com
apennings70@gmail.com
anthony.pennings@sunykorea.ac.kr
About me
Writings by Category
- artificial intelligence
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- characteristics of digital media
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