Revolutionary mathematics : risk, class and the financial overthrow of mining capitalism

Presented by Keith Breckenridge

Monday, 28 February, 2022 - 16:00

This paper is an attempt to account for the ascendancy of finance in the South African economy, and the collapse of gold mining.   It emphasises the contest between the derivatives markets that were nurtured by the Black-Scholes-Merton formula, and the Bretton Woods gold standard, both of which sought to eliminate financial risk. The focus in this paper is the recent rise of interest rate swaps and the 1968 gold bullion crisis.  There is much more that needs to be said and I will discuss some of it in the presentation. 

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