Setting Sail on Stormy Waters: On the Role of Organizational Ethnographers in the Age of Financialization

Ailon, Galit

doi:10.22439/jba.v2i1.4070

Cited by 4 publications

(1 citation statement)

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“…Apparently, financial actors often see prices not as a representation of (objectified) economic value, but as something else: a barometric measure of, and a means of, articulating and manipulating the constantly shifting social ‘mood’ of the market (e.g. Ailon, 2013; Knorr Cetina and Bruegger, 2000, 2002; Langley, 2010; Zaloom, 2009).…”

Section: The Social Constitution Of Financial Market Pricesmentioning

confidence: 99%

Financial Risk-taking as a Sociological Gamble: Notes on the Development of a New Social Perspective

Ailon

2013

Sociology

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This article attempts to bring into focus a sociological aspect of financialization that has evaded theoretical attention. Integrating the findings of a growing body of literature on the sociology of finance, it assembles evidence that financial markets entail a particular awareness of, and perspective on, the social. This perspective is characterized by three attributes: a ‘reflexive social distancing’ whereby financial actors observe social processes in the market in a socially attentive but self-detached way and through which they recognize financial market prices as socially constituted; a ‘social forgetting’ inherent in stochastic configurations and engagement with financial chance; and ‘social dissociation’ with regard to the outcomes and implications of financial decisions. Taken as a whole, these elements constitute ‘financial risk-taking’ as a type of ‘sociological gamble’. The article discusses the importance of studying the social perspective inherent in financialization as a means of furthering our understanding of its character and implications.

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Section: The Social Constitution Of Financial Market Pricesmentioning

confidence: 99%

Financial Risk-taking as a Sociological Gamble: Notes on the Development of a New Social Perspective

Ailon

2013

Sociology

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Financialization and Financial Labor: Ethnographies of Finance and “Ethnographic Reflections” on British Retail Stockbroking

Parkinson¹

2014

Production, Consumption, Business and the Economy: Structural Ideals and Moral Realities

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The geographies of the institutional and industrial constraints on the financialization of German brewing

Keenan

2020

Environ Plan A

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In recent decades, financialization has reworked the ownership, organization and geographies of global brewing. However, the institutional constellations of national, regional and local markets continue to shape and mediate its processes in variegated ways. Presenting a more granular and spatially sensitive conceptualization of financialization, this article adopts a cultural political economy (CPE) framework to analyse its relationships with the German brewing industry. First, the article distils the key elements of firm-level financialization and identifies a range of core constituents which provide the foundations for observing how financialization is enacted as part of wider institutional and political economic contexts. Second, the paper explains how these core constituents unfold as part of the global brewing industry, where the growing importance of mergers and acquisitions (M&As), the cultivation of global brands and the strategic prioritization of value over volume have reconstituted mature beer markets. Analysis then turns to the brewing industry and market in Germany, where regional patterns of production, a localized culture of consumption and various forms of state intervention are shown to constrain the enactment of financialization. Building on this empirical evidence, it is argued that geographically particular social relations, cultural conditions and political economic structures intertwine to shape and mediate processes of financialization, in different ways, with geography both causal and constitutive in its uneven expression.

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Setting Sail on Stormy Waters: On the Role of Organizational Ethnographers in the Age of Financialization

Cited by 4 publications

References 44 publications

Financial Risk-taking as a Sociological Gamble: Notes on the Development of a New Social Perspective

Financial Risk-taking as a Sociological Gamble: Notes on the Development of a New Social Perspective

Financialization and Financial Labor: Ethnographies of Finance and “Ethnographic Reflections” on British Retail Stockbroking

The geographies of the institutional and industrial constraints on the financialization of German brewing

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