In Digitalized Finance, Edemilson Paraná investigates the relationship between the development of Information and Communication Technologies (ICT) and the process of financialization of economies on a global scale, particularly in Brazil. The book explains the influence of ICT in the emergence and consolidation, especially from the 1980s, of new forms of operation and management of the globalized financial system, highly connected, operated in “real time” with intensive use of technological features, and how these advances are related with the economic and social changes in question. It also describes how contemporary capital markets work, where the search for earnings is leveraged by sophisticated mathematical models, robots and automated trading software that seek financial gains in the milliseconds scale.
Edemilson Paraná, Ph.D. (2018), University of Brasília, is a sociologist. He has published in the areas of Economic Sociology, Political Economy and Social Theory.
"Edemilson Paraná has provided an astute and solid analysis of the role of ‘Information and Communication Technologies’ (ICT) in the intensification and strengthening of the financialization process of the global economy [...]. [H]e demonstrates that, just as the machinery of the industrial revolution made the already formally existent subordination of labor to capital a reality, the untiring development of the ICTs over the past few decades, by firmly establishing the compression of the space-time that is the nature of capital, has meant the increasing and very real subordination of the logic of productive accumulation to the logic of financial accumulation [...]." - Leda Paulani, University of São Paulo "Edemilson Paraná offers the reader a rich overview of the impact of financial globalization [...]. This book shows in detail how these processes take place, and how the application of the most advanced information and communication technologies have supported the rise of new ways of exploiting people, poor countries and nature, including a detailed and unique analysis of the restructuring of the relations of control and domination in Brazil." - Alfredo Saad Filho, SOAS University of London
Foreword Maria de Lourdes Rollemberg Mollo
Preface Luiz Gonzaga de Mello Belluzzo
List of Illustrations
List of Abbreviations
1 Introduction 1.1 Methodological Considerations
2 Capitalism at the Beginning of the 21st Century: Globalized Finance 2.1 A Brief Review of the Theories of Financialization
2.2 Interest Bearing Capital and Fictitious Capital
2.3 Globalization of Capital: Neoliberalism and Finance-dominated Accumulation Regime
3 Technics, Capital and Society: The Material Bases of Technological Development 3.1 Investigating the Technological Practice from Its Social Content
3.2 Technological Development and Financialization of the Economy: Theoretical Starting Points
4 Digitalized Finance: Informatization at the Service of Financial Dominance 4.1 The State of the Art of Digitalized Finance at the Beginning of the 21st Century
4.2 The Consequences of Digitalization in the Capitals Markets
4.3 Recent Trends: The Next Steps for Digitalized Finance
5 Digitalized Finance in the Brazilian Context 5.1 A Brief Overview of the Technical-Operational Development of the Capitals Market in Brazil
5.2 The Development of ICT and the Transformations of the Brazilian Capitals Market: Elective Affinities
6 Final Considerations
All interested in the social and economic aspects of financialization, technology and contemporary digitalized financial markets. Especial interest to students, activists, researchers and academics on political and social sciences and economics.