The Black-Scholes-Merton formula has been put to widespread use by options traders because it provides a means of calculating the theoretically 'correct' price of stock options. Traders can therefore see whether the market price of stock options undervalues or overvalues them compared with their...

A consistent theme of the existing literature is that fair trade consumption practices represent acts of justice. In this article I investigate such an equation from the perspective of the moral theory of Adam Smith. Smith explains the development of moral sensibilities via an imaginative act he...

Fair trade requires that developed country consumers engage in market-based transactions with developing country producers. Yet this is not market trade in any straightforward sense, because the purchase of fairly traded products brings consumers into two market relationships at the same time....

The globalisation hypothesis has altered many of the common-sense ?truths? around which the social world is organised.* In particular, globalisation is thought to restrict the parameters of the politically and economically possible. Indeed, the notion of constrained choice is so pronounced that...

Two years have now elapsed since the tech-stock share bubble burst ? most notably on the NASDAQ in New York, but engulfing other high-tech markets as well. In Britain, as in other countries, the overall stock market environment has been relatively bearish in the intervening period. The two...

Individual investment decisions are guided by the knowledge that is presented by financial experts about the future prospects of firms. The integrity of the financial system depends on the expert community maintaining its independence in the face of firms? attempts to impose their own commercial...

The existing academic literature on financialization points to multiple instances in which firms attempt to demonstrate the vitality of their stock-market position in ways which ultimately prove to be self-harming. I demonstrate, in the first instance as a matt er of immanent logic, that these...

This article conceptualises the marked downturn in UK house prices in the 2007-2009 period in relation to longer-term processes of national economic restructuring centred on a new model of homeownership. The structure of UK house prices has been impacted markedly by the Labour Government?s...