In addition to discussing financial and commodity futures and options, this book links them to the physical economy at large, a linkage which is particularly important when one is thinking of physical commodity markets. The book looks at not only the futures of derivative markets, but it also explores the physical markets and the underlying economy. <ul> <li>Written by leading authors in the field of commodity markets <li>Contains numerous up-to-date examples, case studies, and scenarios to assist in gaining an overall understanding <li>Covers all aspects of commodity trading, including the inter-relationship between the different functions </ul>
Following the journey of eight bargain store objects, Alison Hulme reveals the complex story behind society's simplest and cheapest commodities. Inspired by Walter Benjamin's Arcades Project,On the Commodity Trail explores the colourful and fascinating histories of everyday objects.
Along the way, we observe raw materials on municipal rubbish dumps in China, newly re-made products in the world's largest wholesale market, and take a journey across the seas, to bargain stores in Europe and North America, arriving finally in the homes of consumers. Weaving together narratives from the people we meet at different parts of the commodity chain - waste peddlers, wholesalers, store owners, and shoppers - the book examines the places and people at the heart of these localized yet immense global networks.
Unlike other investigations of commodity chains, this study does not chart a straightforward trajectory from production to consumption. Instead, it demonstrates that the low-end commodity chain is one of constant rupture in which products are made and re-made, blurring the dividing line between producing and consuming.
An ethnography of material culture as well as an examination of commodity culture at a time of economic downturn, this deeply-engrossing book makes a unique contribution to our understanding of commodity chains and consumer culture.
Market-based environmental policy analysis requires taking into account all the institutional factors necessary for the market to function optimally, as well as the social forces that shape a final policy design. This book sheds light on the institutional history of the emissions trading concept as it has evolved across different contexts. Diplomats, policy experts, academics, and the carbon trading industry currently have a monopoly of knowledge about the intricacies of developing and implementing emission trading systems (ETS) for environmental control. This book seeks to weaken that monopoly. It makes accessible the policy design and practical implementation aspects of a key tool for fighting climate change. Blas Perez Henriquez analyzes past market-based environmental programs to extract lesions for the future of ETS. He follows the development of the emissions trading concept as it evolved in the United States and was later applied in the multinational European Emissions Trading System and in subnational programs in the United States such as the Regional Greenhouse Gas Initiative (REGI). This ex-post evaluation of an ETS as it evolves in real time in the real world provides a valuable supplement to what is already known from theoretical arguments and simulation studies about the advantages and disadvantages of the market strategy. Political cycles and political debate over the use of markets for environmental control make any form of climate policy extremely contentious. Henriquez argues that, despite ideological disagreements, the ETS approach, or, more popularly, 'cap-and-trade' policy design, remains the best hope for a cost-effective policy to reduce GHG emissions around the world.
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