New perspectives on emotions in finance : the sociology of confidence, fear and betrayal / edited by Jocelyn Pixley.

Format:

Book

Contributor:

Pixley, Jocelyn, 1947-

Series:

Routledge international studies in money and banking ; 76.

Routledge international studies in money and banking ; 76

Language:

English

Subjects (All):

Finance--Psychological aspects.

Finance.

Finance--Social aspects.

Money--Psychological aspects.

Money.

Trust--Economic aspects.

Trust.

Financial crises--Social aspects.

Financial crises.

Social aspects.

Physical Description:

xv, 238 pages : illustrations ; 24 cm.

Place of Publication:

Abingdon, Oxon ; New York : Routledge, 2012.

Summary:

"This interdisciplinary volume from a leading international group of scholars offers coherent sociological answers as to how and in what respects finance is 'emotional'. Chapters offer sophisticated approaches to the current financial crisis, and the antecedents in cultural variations in institutions and organisational forms. "--Provided by publisher.

"The financial crisis that started in 2007 is a concern for the world. Some countries are in depression and governments are desperately trying to find solutions. In the absence of thorough debate on the emotions of money, bitter disputes, hatred and 'moralizing' can be misunderstood. New Perspectives on Emotions in Finance carefully considers emotions often left unacknowledged, in order to explain the socially useful versus de-civilising, destructive, nature of money. This book offers an understanding of money that includes the possible civilising sentiments. This interdisciplinary volume examines what is seemingly an uncontrollable, fragile world of finance and explains the 'panics' of traders and 'immoral panics' in banking, 'confidence' of government and commercial decision makers, 'shame' or 'cynicism' of investors and asymmetries of 'impersonal trust' between finance corporations and their many publics. Money is shown to rely on this abstract trust or 'faith', but such motivations are in crisis with 'angry' conflicts over the 'power of disposition'. Restraining influences - on 'uncivilised emotions' and rule breaking - need democratic consensus, due to enduring national differences in economic 'sentiments' even in ostensibly similar countries. Promising ideas for global reform are assessed from these cautionary interpretations"--Provided by publisher.

Contents:

Part I Emotions and the present crisis: reshaping the sociology of finance 23

1 Magic thinking and panic buttons in the callous financial transaction chains / Helena Flam Flam, Helena 25

2 Immoral panic and emotional operations in times of financial fragility / Alexandros-Andreas Kyrtsis Kyrtsis, Alexandros-Andreas 49

3 How European sovereign debt became the new subprime: on the role of confidence in the European financial crisis (2009-2010) / Richard Swedberg Swedberg, Richard 66

4 Shame and stock market losses: the case of amateur investors in the US / Brooke Harrington Harrington, Brooke 81

5 The grammar of trust / Susan Shapiro Shapiro, Susan 99

Part II The financial crisis in context: historical and theoretical investigations 119

6 Revisiting the credit theory of money and trust / Geoffrey Ingham Ingham, Geoffrey 121

7 Methodology in Max Weber's economic sociology: what place emotions in Roman agrarian history and today's finance sector? / Sam Whimster Whimster, Sam 140

8 States of disorder: new reflections on sociology's contribution to understanding financial booms and crises / Shaun Wilson Wilson, Shaun, Peter McCarthy McCarthy, Peter 156

9 'Nicotine for protein': culture and the emotions of hard trading in Japanese prisoner of war camps / Benjamin Manning Manning, Benjamin 174

10 The emotions of money: assessing betrayal and reform / Jocelyn Pixley Pixley, Jocelyn 191.

Notes:

Includes bibliographical references and index.

ISBN:

9780415533799

0415533791

9780203114018

0203114019

OCLC:

774498480