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The financial simulacrum: The consequences of the symbolization and the computerization of the financial market

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  • Schinckus, Christophe

Abstract

In a first step, we present the symbolic evolution of financial market that illustrates the growing "consumer-oriented" dimension of finance. We introduce then the technological evolution of finance, that derives from the growing computerization of finance. The third part of the paper shows that this double evolution in finance allows us to consider the financial market as a "hyper-market". The financial market is then presented as a result of what Baudrillard calls a "hyper-reality". In the last section, we show that this hyper-reality allows a plurality of theoretical interpretations of the financial reality.

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  • Schinckus, Christophe, 2008. "The financial simulacrum: The consequences of the symbolization and the computerization of the financial market," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(3), pages 1076-1089, June.
    • Handle: RePEc:eee:soceco:v:37:y:2008:i:3:p:1076-1089
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