- List of Figures
- List of Tables
- Global Finance And Its Institutional Spaces
- Politics And Financial Markets
- Finance And Institutional Investors
- Business Groups And Financial Markets As Emergent Phenomena
- Central Banking And The Triumph Of Technical Rationality
- What is a financial market? Global markets as microinstitutional and post-traditional social forms
- Auctions And Finance
- Interactions And Decisions In Trading
- Traders And Market Morality
- The Material Sociology Of Arbitrage
- Seeing Through The Eyes Of Others: Dissonance Within And Across Trading Rooms
- Market Efficiency: A Sociological Perspective
- Financial Analysts
- Rating Agencies
- Accounting And Finance
- The International Monetary Regime And Domestic Political Economy: The Origin Of The Global Financial Crisis
- A Long Strange Trip: The State And Mortgage Securitization, 1968–2010
- Dead Pledges: Mortgaging Time And Space
- Financial Crises As Symbols And Rituals
- The Sociology Of Financial Fraud
- The Disunity Of Finance: Alternative Practices To Western Finance
- Islamic Banking And Finance: Alternative Or Façade?
- Geographies Of Finance: The State-Enterprise Clusters Of China
- The Financialization Of Art
- Historical Sociology Of Modern Finance
- Gender And Finance
- The Role Of Confidence In Finance
- Finance In Modern Economic Thought
- Financial Automation, Past, Present, And Future
Abstract and Keywords
This article uses a historical perspective to consider a topic which historical sociologists have mostly overlooked — finance. It shifts attention away from the most visible events, namely bubbles and crises, and towards underlying institutions and processes. It points out how, in its historical development, finance challenges many of the simple dichotomies used to think about the economy. The discussion focuses mostly on Anglo–American finance, foregoing many interesting and important topics. Three general points are made. First, private financial institutions have been deeply affected by public finance in a number of ways. Second, both private and public regulations have shaped finance, with effects that vary substantially over time and between different countries. Third, finance directly connects to core sociological concerns, such as the study of inequality.
Bruce G. Carruthers is the John D. and Catherine T. MacArthur Professor of Sociology at Northwestern University. Carruthers has authored or coauthored five books, City of Capital: Politics and Markets in the English Financial Revolution (1996), Rescuing Business: The Making of Corporate Bankruptcy Law in England and the United States (1998), Economy/Society: Markets, Meanings and Social Structure (2000), Bankrupt: Global Lawmaking and Systemic Financial Crisis (2009), and Money and Credit: A Sociological Approach (2010). He has had visiting fellowships at the Russell Sage Foundation, Australia National University, and the Radcliffe Institute for Advanced Study, and received a John Simon Guggenheim Fellowship.
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