Conference Publication Details
Mandatory Fields
Kreps, DGP, Wong, Renfred
The IFIP WG9.5 "Virtuality and Society" International Workshop on Images of Virtuality: Conceptualizations and Applications in Everyday Life
Virtual oversight over transnational capitalism: XBRL metadata and renewed government control of the global economy
2009
Unknown
Published
0
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Optional Fields
1
8
Athens University of Economics and Business, GreeceAthens University of Economics and Business, Gree
As the recent and ongoing crisis in the world financial system shows, unregulated markets are dangerous for the world economy. Through the news media we have all become much more familiar with the virtual world of financial transactions in today’s global economy than ever before. In this paper we address the difference between the ‘strong’ virtual reality of immersive technological systems and the ‘weak’ virtual reality of digital culture in the information age. We examine how what Gramscii might have termed a ‘hegemonic’ shift in the control of the financial markets is unfolding through the mechanism of what Latour would term ‘inscription’ – using the mandatory introduction of XBRL to bring far greater transparency to the accounting of transnational corporations and a greater ability on the part of regulators to know precisely what is going on.As the recent and ongoing crisis in the world financial system shows, unregulated markets are dangerous for the world economy. Through the news media we have all become much more familiar with the virtual world of financial transactions in today’s global economy than ever before. In this paper we address the difference between the ‘strong’ virtual reality of immersive technological systems and the ‘weak’ virtual reality of digital culture in the information age. We examine how what Gramscii might have termed a ‘hegemonic’ shift in the control of the financial markets is unfolding through the mechanism of what Latour would term ‘inscription’ – using the mandatory introduction of XBRL to bring far greater transparency to the accounting of transnational corporations and a greater ability on the part of regulators to know precisely what is going on.
http://usir.salford.ac.uk/id/eprint/2280/http://usir.salford.ac.uk/id/eprint/2280/
Grant Details
Publication Themes
Humanities in Context