This book is a profound and eagerly anticipated investigation into what is left of a monotheistic religious spirit—notably, a minimalist faith that is neither confessional nor credulous. Articulating this faith as works and as an objectless hope, Nancy deconstructs Christianity in search of the historical and reflective conditions that provided its initial energy. Working through Blanchot and Nietzsche, re-reading Heidegger and Derrida, Nancy turns to the Epistle of Saint James rather than those of Saint Paul, discerning in it the primitive essence of Christianity as hope. The “religion that provided the exit from religion,” as he terms Christianity, consists in the announcement of an end. It is the announcement that counts, however, rather than any finality. In this announcement there is a proximity to others and to what was once called parousia. But parousia is no longer presence; it is no longer the return of the Messiah. Rather, it is what is near us and does not cease to open and to close, a presence deferred yet imminent. In a demystified age where we are left with a vision of a self-enclosed world—in which humans are no longer mortals facing an immortal being, but entities whose lives are accompanied by the time of their own decline—parousia stands as a question. Can we venture the risk of a decentered perspective, such that the meaning of the world can be found both inside and outside, within and without our so-immanent world? The deconstruction of Christianity that Nancy proposes is neither a game nor a strategy. It is an invitation to imagine a strange faith that enacts the inadequation of life to itself. Our lives overflow the self-contained boundaries of their biological and sociological interpretations. Out of this excess, wells up a fragile, overlooked meaning that is beyond both confessionalism and humanism.
The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
From one of France’s leading contemporary thinkers, “an astutely reasoned philosophical text, offering a revolutionary analysis of theistic religion” (The Midwest Book Review). This book is a profound and eagerly anticipated investigation into what is left of a monotheistic religious spirit—notably, a minimalist faith that is neither confessional nor credulous. Articulating this faith as works and as an objectless hope, Nancy deconstructs Christianity in search of the historical and reflective conditions that provided its initial energy. Working through Blanchot and Nietzsche, re-reading Heidegger and Derrida, Nancy turns to the Epistle of Saint James rather than those of Saint Paul, discerning in it the primitive essence of Christianity as hope. The “religion that provided the exit from religion,” as he terms Christianity, consists in the announcement of an end. It is the announcement that counts, however, rather than any finality. In this announcement there is a proximity to others and to what was once called parousia. But parousia is no longer presence; it is no longer the return of the Messiah. Rather, it is what is near us and does not cease to open and to close, a presence deferred yet imminent. In a demystified age where we are left with a vision of a self-enclosed world—in which humans are no longer mortals facing an immortal being, but entities whose lives are accompanied by the time of their own decline—parousia stands as a question. Can we venture the risk of a decentered perspective, such that the meaning of the world can be found both inside and outside, within and without our so-immanent world?
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