Always coming home: Towards an archaeology of the future

This paper reports on a research project which facilitated a group of socially committed educators to clarify the nature of their desirable futures and to identify their sources of hope. This work is set within the normative tradition of futures studies and an account is given of how the research process was arrived at and the way in which people responded to this. A participatory and experiential focus group format enabled participants to explore these issues in a fruitful and synergetic way. Key elements of their preferable futures and primary sources of hope are identified and then compared with previous research findings. Finally these concerns are located within wider contemporary debates about revisionary postmodernism, sustainable futures and the utopian tradition.     

Dominance,stakeholders’ moves and leadership shifts: New directions for transforming futures

Futures literature invites researchers to investigate stakeholders’ interests, actions and reactions, as well as to introduce an analysis of power and influence in scenario thinking. The purpose of this paper is to assess how the concept of dominance can help to improve scenario building and futures thinking as dominance transforms leadership within action processes. First, we examine power at work at different levels using concepts that relate to dominance and leadership shifts. Secondly, we discuss methodological proposals to implement the concepts of weak and strong dominance in action-based scenarios design and the implications of theses concepts for refining the approach of leadership in futures thinking. We conclude that paying attention to dominance transformations in scenarios is a promising direction to develop stakeholder and leadership analysis in scenario thinking. We suggest further research on the connection between history and futures thinking.     

Futures research and complexity: A critical analysis from the perspective of social science

This article deals with the use of the new paradigm of complexity for futures research. The introduction of the ideas of complex thinking in futures research has been characterized by epistemological lacunae and contradictions. The main shortcomings derive from the superficial application of physical concepts to social sciences and the univocal theoretical approach to futures studies. The methodology of social sciences, instead, can help us to find critical arguments and correct indications for consistent futures research.     

On applied science, prediction and contingency

Like any other science, to remain a worthwhile scientific discipline, futures research needs to reflect on itself. It needs to do so from three perspectives: 1) futures research is regarded as an applied science: a closer connection between studying the future in an academic manner and conducting futures research can improve the quality and subsequently the use and impact of futures research, since this will set a cyclic process between theory and practice in motion. An important condition for ensuring this is to increase the amount of empirical research concerning the way futures research is carried out in real life; 2) a reappraisal of predicting the future: although history has shown that predicting the future is difficult, stating that, in the future, predictions will not be a part of futures research is in itself a prediction. In fact, predictions can serve as valuable starting points for discourses on the future; 3) the context of futures research: futures researchers should be more aware of the context in which they do their work. This can significantly enhance the usability of futures research but it also means that futures researchers should become more flexible in applying their methods and processes.     

Mental time travel in foresight processes—Cases and applications

Mental time travel can be described as a method of guiding the participants of a workshop into a picture or a whole series of pictures of the future. This should be thought of as a movie rather than static images and includes emotions. Mental time travel is still a new method in foresight processes, in generating futures, futures research or future-oriented technology analysis (FTA) in general, and is only rarely used to open up the minds of participants at the beginning of workshops so that their thinking does not remain fixed in the past or the present. Time travelling can be applied to different cases and at different stages of a foresight process (phases of strategic intelligence gathering, sense-making or even implementation), e.g. participants are also able to think disruptively in new pictures instead of just extrapolating from the past.Clinical and psychological studies do not yet exist for this kind of time travel, but first experiences from very different foresight processes are available. This paper presents the experiences gained from six national and international foresight cases, in which time travel was applied. Different ways of performing it are reported and set in the context of the specific foresight process concepts. Experiences are shared by examining the lessons learned and the pros and cons of this new method, so that the organizers of foresight processes can better assess how the method could fit their specific context, objectives, method mix and participants.     

The role of gold futures in mitigating the impact of economic uncertainty on spot prices: Evidence from China

This paper studies the co-integration relationship and volatility spillover effect between China's gold futures and spot prices through the VECM-BEKK-GARCH model. Then, MSGARCH and DCCE-GARCH are applied to study the relationship among China's gold futures market, spot market price volatility and the stabilization effect in uncertain economic environments. This paper enriches the current research, providing gold market participants with hints to address economic uncertainty. The empirical results show that China's gold futures market has a weak stabilization effect on spot price volatility. In scenarios with uncertain economic information and uncertain macroeconomic changes, the correlation between gold futures and spot price volatility is reduced in China, and the role of gold futures in stabilizing the spot price weakens. Furthermore, with economic uncertainty, the fluctuation range of the gold futures price is greater than that of the spot price, with a tendency of more frequent fluctuations. This also means that the effectiveness of the futures market in regulating the spot price will be reduced, and gold market regulators need to stabilize the market through alternative methods to futures.     

美元贬值和石油价格变动相关性的实证分析

进入新世纪以来,由于各种因素导致美元不断贬值,与此形成鲜明对比的是,石油价格一路飙升。那么,美元汇率和石油价格之间是否存在着某种因果关系呢?由于期货市场具有价格发现功能。本文以最具代表性的美国纽约商品交易所的原油期货价格为研究对象,分析美元贬值和石油价格之间的关系。本文首先定性分析美元贬值导致石油价格上涨的传导机制,然后利用模型对相关数据进行实证分析。研究结果表明,石油期货价格的上涨,除了有美元指数的影响之外,更重要的原因是前期石油期货价格上涨对本期石油期货价格上涨有正向的推动作用。     

Designing futures: Inquiry in climate change communication

There are many barriers and challenges associated with climate change communication focused on promoting community-based action for sustainable futures. Of particular interest is the challenge to embed community perspectives in a communication process of climate change solutions. In this paper we argue that 3D interactive simulations using design inquiry as a development process, can be an effective way of communicating climate change solutions and multiple community responses. People are more likely to engage with the challenges associated with complexity of climate change at the local level when their perspectives are integrated into viable and multiple pathways for action. Future scenarios of change processes situated in local experiences in compelling and interactive ways can be disseminated holistically by making links between scientific, social, political, economic and cultural elements. Design inquiry, as a research approach, integrates contextual knowledge into communication processes to aid imagining, re-thinking and reembodying viable pathways that explore the kinds of futures we collectively envision. This paper examines the contributions that design inquiry makes to climate change communication using an interactive simulation environment for designing futures. We discuss these ideas using the example of the Future Delta project, a virtual 3D environment that enables the exploration and simulation of multiple community-based climate change solutions in the Corporation of Delta, British Columbia.     

Ways of knowing, culture, communication and the pedagogies of the future

This article focuses on how cultures are embedded in diverse ways of knowing and how individuals teach (formal, action research, spiritual) and learn the world (action, science, technique or gnosis) differently. We present case-studies or stories of teaching and learning futures and futures generations. These stories tell the fundamental difficulties we face in teaching, communicating and learning across civilization, profession, worldview and pedagogical style. We offer a futures method, causal layered analysis, as one way to enter different knowing spaces. The educational challenge ahead of us is to pass on the rich diversity of culture and ways of knowing to future generations.     

Forecasts or fallacies: Two issues for futures research on the internet

This paper explores the idea of futures research online, and considers whether two issues in particular — high rates of change, and complexity — pose a significant problem to the success of internet-orientated futures research. In particular, these two potential problems will be considered from the perspective of new developments within futures research frameworks and methodologies.     

Beyond postnormal times: The future of creativity and the creativity of the future

Creativity and imagination are the most important ingredients for coping with post-normal times, according to Sardar. This paper looks at the way creativity itself is being transformed in the West, from the individualistic/atomistic view of Modernity towards a more contextual, collaborative, complex approach. It explores the potential and possibilities for this more participatory creativity to help go beyond the “crisis of the future,” and argues that the centrality of creativity must go beyond the mythology of genius and inspiration to inform philosophy, ethics, and action. Philosophical reflection and the imagination of desirable futures can emerge from a creative ethic that stresses the value of generative interactions and contexts that support creativity.     

限制交易政策如何影响期现关系?——对股指期货价格发现功能的实证检验

本文利用2015年中国股市大幅下跌期间,对股指期货严格限制交易政策这一独特事件前后的高频数据,研究限制交易政策对股指期货与股票市场价格引导关系的影响。利用I-S模型和分位数回归方法的实证结果表明:限制交易政策实施前,股指期货对股票市场的价格影响更强,尤其表现在价格急剧下跌时期;限制交易政策显著增加了期货市场交易成本,从而降低了期货市场的信息份额,削弱了其对股票市场的价格影响,并且改变了期货价格对现货价格“助跌强于助涨”的影响模式,增强了股指期货在价格上涨时对股票市场的影响。研究结果一方面直接量化了期货交易成本变动对其价格发现功能的负面影响,另一方面也从价格引导关系的视角提供了股市危机时期股指期货限制交易政策监管效果的实证证据。     

Explicit versus Implicit Contracts: The Case of DIFF and CROSS Futures

This paper investigates the potential success of an explicit futures contract when an implicit one, which can duplicate it, exists. It is hypothesized that the success of the explicit futures contract depends on its value added being greater than that of its implicit counterpart given that sufficient hedging demand exists for it. Following a discussion of value added analysis, hedging effectiveness of the Euro-rate Differential (DIFF), the Currency Cross-rate (CROSS) futures contracts, and their implicit counterparts are calculated and tests of relative hedging effectiveness of these contracts are performed. Test results support the hypothesis of the paper and their implications for new futures contract development are discussed.     

Anticipatory action learning: conversations about the future

This paper proposes experimenting with anticipatory action learning for helping to create the future. It is an interactive process that relies strongly on a central thread of conversation among a variety of participants, from multiple perspectives, concerned with the social unit or project. Basically, anticipatory action learning is action research modified for foresight. It integrates research/search with decision and action, and downgrades the prerogative of a research elite, empowering all participants. Conversation allows meaning from a range of different worldviews to be shared and negotiated for studying, theorising and otherwise engaging the future—and more importantly, for helping to create it. Criteria are proposed for anticipatory action learning and procedural and administrative limitations are addressed.The visions we have about our own futures vary according to the mindset each of us stands in. It would be fascinating to compare the personally envisioned futures of everyone at an international meeting of futurists. Our futures should converge in some way where we share common interests as futurists, and diverge on the point of intercultural variety. But, would they differ from each other as widely as those of Aung San Suu Kyi and the Burmese generals?It would be even more telling to compare the range of alternative futures envisioned by world leaders with the visions of their constituents and especially, say, with the visions of a woman in Africa’s Central Lakes region and of the homeless in Osaka.In a similar way, the means of engaging the future in order to study it, and its uncertainties, and the way people think about it, are variously dependent on the mindsets of the scholars and researchers, and the realities they find themselves in. Methodologies of futures studies range across the predictable: from empirical quantitative projection (linear and non-linear); to qualitative interpretation and critical analysis; and to participatory action research or its associate, action learning.Then, futures studies differs according to the disciplinary framework of the researcher, whether in physics, ecology, complexity science, social science and the humanities, critical cultural theory or philosophy. Further, there is the division of the pragmatic and academic perspectives.Actually, the very fact of having a formal methodology is itself derived from a dominant civilisational and ethical perspective, mainly Western.There is another important distinction in futures studies. On the one hand, there is the perspective from which futurists research, analyse and critique the future, or more precisely what other people think and say about the future. On the other, there is the perspective from which people in the focal social unit may think and act to create their own futures.Then, acting to create a future poses at least two further distinctions depending on whether one believes the future is structurally preordained, or whether human interaction and intervention play a significant part.It is from the perspective of participative human agency acting to create one future or another, at least partially, that this paper proceeds.Before going further, let us address the question of whether future-creating can rightly be claimed to constitute the study of the future, or future studies. If it is not part of futures studies, then at least future-creating activity does rely on input from the field, the results of studying and reflecting on alternative options for the future—futures, plural. Whatever way we look at creating the future, as opposed to merely researching data about it, the activity does represent a fairly direct, personal engagement of the future, as much as anyone can do about a time–space that has yet to arrive. This is an important distinction, since many empirical futures studies do not so directly engage the future, well not personally. Rather, they examine stated opinions of others about future options, and other people’s preferences, emerging issues and the like, themselves all valuable activities.

If, as Michel Godet has said, ‘...the future is not written anywhere and has still to be built...’ [[1]], creating the future is a central activity which at least deserves full consideration by the field of futures studies, especially if it relies on the analysis and critique of data generated or accessed around the activity itself.

Futures volatility forecasting based on big data analytics with incorporating an order imbalance effect

Future markets play vital roles in supporting economic activities in modern society. For example, crude oil and electricity futures markets have heavy effects on a nation’s energy operation management. Thus, volatility forecasting of the futures market is an emerging but increasingly influential field of financial research. In this paper, we adopt big data analytics, called Extreme Gradient Boosting (XGBoost) from computer science, in an attempt to improve the forecasting accuracy of futures volatility and to demonstrate the application of big data analytics in the financial spectrum in terms of volatility forecasting. We further unveil that order imbalance estimation might incorporate abundant information to reflect price jumps and other trading information in the futures market. Including order imbalance information helps our model capture underpinned market rules such as supply and demand, which lightens the information loss during the model formation. Our empirical results suggest that the volatility forecasting accuracy of the XGBoost method considerably beats the GARCH-jump and HAR-jump models in both crude oil futures market and electricity futures market. Our results could also produce plentiful research implications for both policy makers and energy futures market participants.     

Dimensions in the confluence of futures studies and action research

This article puts forward the proposition that the confluence of action research and futures studies can be seen across a number of domains: political, organisational, grassroots, global and individual. While this confluence embodies an heterogeneity of practices, it is their underlying approach, the processes used, which are shared. Identifying both the many distinctive practices in their unique contexts, and their more homogeneous processes is the primary task of this paper. Aspects of this confluence are explored as they relate to social change, empowerment, humanisation, ways of knowing and ethics.     

Movements toward holism in futures inquiry

This article takes up the question of the various movements toward holism in futures inquiry. The Ken Wilber inspired integral futures, developed by Richard Slaughter and others, and put forth as the most comprehensive approach to-date, is critiqued and assessed. While Wilber's integral and the variant it has inspired in futures represent significant innovations, it also contains the tendency to un-necessarily close down, lock out or to sub-ordinate alternative conceptions of holism, what I term ‘Wilber-ism’. Wilber's ‘theory of everything’ and integral futures are analysed, re-assessed and re-situated in the context of the alternative approaches to holism that exist. What emerges is a rich view of potential genealogies and ontogenies as movements toward holism. One variant from the action research tradition, which I call ‘integrative foresight’, is put forward as an example of an alternative. The article concludes by proposing a process of dynamic dialogue between diverse conceptions of holism, which can at once honour the great diversity of approaches, while likewise continuing the journey of creating shared meaning and common understandings of the complex contexts in which futures inquiry works.     

Consumer education and everyday futures work

The purpose of this article is to draft new tasks for consumer education in a transformed and transforming world and consumption situation. The basic claim is that consumer education needs to become empowering or emancipatory, and that this can be reached through emphasizing the futures aspect and skills concerning everyday futures work. The functions of traditional consumer education can be described as socializative, preventive and corrective. This is not enough in a rapidly changing world in which consumers face completely new challenges. Section 2 of this article studies changes focal to the individual consumer. In Section 3 I define the basic functions of a household as an economic unit, consumption and consumer education. In Section 4 I continue the analysis of the functions of consumer education with the help of the neologism everyday futures work, which is grounded on the application of Joseph Nuttin's theory of action. I also argue that to fulfill an empowering function, consumer education has to emphasize the futures aspect. The core concept here is futures-will, which highlights the dynamic character of human action. In Section 5 I suggest relevant solutions for consumer education in relation to the challenges and functions of consumption described above as well as explain how the enhancing of everyday futures work skills could be applied in the framework of the cycle of human action. I conclude the article by discussing some recent topics in consumer education to show that consumer education thinking is in some measure - even if not often explicitly expressed - converging with futures education.     

Emerging pathways for critical futures research: Changing contexts and impacts of social theory

There has always been a critical, emancipatory tradition within futures studies. Although those voices can still be heard, there has been a growing tendency for futures studies to be driven by more utilitarian needs in business and government. Whilst it is positive that futures thinking and research is increasingly valued within corporate and policy-making settings, much of that work appears to lack genuine plurality of worldviews and interests.The paper traces the changing contexts for futures research over the past 25 years. It argues that futures research needs to be viewed as part of the re-politicisation – in the Habermasian sense – of technocratic decision-making. It suggests that there are three particular reasons for revisiting the need for criticality in futures research: the increasing acknowledgement of systemic interrelatedness (ecological, social, economic), a growth in the forward-looking socio-economic paradigm that permeates both business and policy, and the challenge of theory development. Drawing on social theory and futures research, we suggest three pathways for revived critical futures research: socio-technical practices, future-oriented dialectics, and socio-economic imaginaries. As a result, the paper calls for development in futures studies that would dialectically integrate and overcome the dichotomy between instrumentalisation and (critical) theorising that can be currently understood as somewhat antagonistic. In order to find a balance between these antagonistic dimensions, futures research should be more engaged in enabling critique and revealing assumptions and interests.     

To govern is to foresee: An exploratory study into the relationship between futures research and strategy and policy processes at Dutch ministries

The Dutch government has to operate in an extremely complex environment with various actors who have different interests, in a time that can be considered highly uncertain. Although this makes the usefulness of and need for futures research evident, the question remains how the Dutch government uses futures research in its strategy and policy formation process. This study indicates that the use of futures research by Dutch government ministries has evolved over time, although the overwhelming importance of the short term, the difficult structural organization of futures research and a relative lack of relevant expertise at the ministries limit the impact of futures research on strategy and policy.