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Learning From the Global Financial CrisisCreatively, Reliably, and Sustainably$
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Paul Shrivastava and Matt Statler

Print publication date: 2012

Print ISBN-13: 9780804770095

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804770095.001.0001

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The Play Ethic and the Financial Crisis

The Play Ethic and the Financial Crisis

Chapter:
(p.121) 6 The Play Ethic and the Financial Crisis
Source:
Learning From the Global Financial Crisis
Author(s):

Pat Kane

Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804770095.003.0007

This chapter considers how bankers and traders have placed the game of creative innovation in the service of the game of winner-take-all shareholder capitalism. It notes that the increased importance of regulators and arbiters in sports as well as finance is driven by a similar tendency to innovate beyond the application of existing rules. Whereas free-market advocates have tended to rely on game theory and complex adaptive systems theory to justify the evolutionary creation and destruction of specific organizational and institutional forms, this chapter raises a series of questions about the ground of play in embodied, materially potentiating human beings. It examines the healthiest arrangement between the free play of financial speculation and the rule-based structure of financial regulation for human life.

Keywords:   creative innovation, shareholder capitalism, finance, sports, game theory

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