(p. xii) Contributors
(p. xii) Contributors
Mitchel Y. Abolafia
is Professor at the Rockefeller College of Public Affairs and Policy, State University of New York. He is the author of Making Markets: Opportunism and Restraint on Wall Street (1997). Recent publications include “The Institutional Embeddedness of Market Failure: Why Speculative Bubbles Still Occur,” Research in the Sociology of Organizations (2010), and “Narrative Construction as Sensemaking: How a Central Bank Thinks,” Organization Studies (2010).
is Lecturer in Management within the Employment Relations and Organisational Behaviour Group. His research in sociology explores the ways in which social relations and technology shape financial value. His award-winning study of a derivatives trading room within a Wall Street bank traces the roots of extraordinary returns to the use of space and internal organization. He has also studied securities analysts and the systemic risk posed by financial models. His current research is focused on responsible investment and the automation of financial exchanges.
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.
is lecturer in management at the University of Melbourne, Australia. She completed her PhD in Sociology at the University of Chicago. Her doctoral dissertation, “Wall Streeting Art: The Construction of Artwork as an Alternative Investment and the Strange Rules of the Art Market,” explained the growing interest in art by large, professional investors through the growth of measures, models, and tools to quantify the properties of art as an investment, mutual construction of the area with art market professionals, and the development of appropriate instruments to structure the investment. Her work relates to both science studies and organization theory, using the case of art investment as a case to identify a more general model of how financial investment areas are actively constructed by market actors, and objects with value are turned into recognizable financial assets.
(p. xiii) Gerald F. Davis
is the Wilbur K. Pierpont Collegiate Professor of Management and Professor of Sociology at the University of Michigan. He has published widely in management, sociology, and finance. Recent books include Social Movements and Organization Theory (with Doug McAdam, W. Richard Scott, and Mayer N. Zald; 2005); Organizations and Organizing: Rational, Natural, and Open System Perspectives (with W. Richard Scott; 2007); and Managed by the Markets: How Finance Reshaped America (2009), which won the Academy of Management's George Terry Best Book Award for 2010. He is the editor of Administrative Science Quarterly and Director of the Interdisciplinary Committee on Organization Studies (ICOS) at the University of Michigan.
is Professor of Sociology at Harvard. His Forging Industrial Policy: The United States, Britain, and France in the Railway Age (1994) traces the roots of contemporary industrial policy approaches to the institutional logics of political order in different countries. The New Economic Sociology: An Anthology (2004), ties modern economic sociology to classical sociological theory. Inventing Equal Opportunity (2010) explores how corporate human resources professionals managed to define what discrimination meant under the Civil Rights Act.
is the Class of 1939 Professor in the Department of Sociology at the University of California. He is the author of numerous books including The Architecture of Markets (2001), Euroclash (2008), and A Theory of Fields (with Doug McAdam; forthcoming). He has written extensively on the topics of economic sociology, social stratification, political sociology, and European economic and political integration. He is currently working on studying different aspects of the current financial crisis. He is a member of the American Association of Arts and Sciences, a former Guggenheim Fellow, and a former fellow of the Center of Advanced Study in the Behavioral Sciences in Palo Alto.
is Lecturer in Economic Geography at the University of Nottingham, UK. He has research interests in the geographies of finance and, in particular, the spatialities of contemporary processes of biofinancialization, of financial subjectification, and the politics of financial exclusion. He is coeditor of Key Methods in Geography (2010), and has published in such journals as Environment and Planning D: Society and Space, British Journal of Politics & International Relations, Antipode, and Transactions of the Institute of British Geographers.
is Professor of Sociology at Duke University. He is the author of Economic Ideology and Japanese Industrial Policy: Developmentalism from 1931 to 1965, which received the 1998 Hiromi Arisawa Memory Award for the best books in Japanese studies from the Association of American University Presses, and Japan's Economic Dilemma: The Institutional Origins of Prosperity and Stagnation. His ongoing research projects include the origins of the 2008 global financial crisis, the Chinese model of economic development, industrial upgrading in China, and industrial cluster and specialized markets in China. (p. xiv)
is a PhD Candidate in the Department of Sociology at the University of California, Berkeley. His research focuses primarily on the economic sociology of financial capitalism in the contemporary United States. Current projects examine how labor market insecurity and growing inequality have shaped households’ incorporation into financial markets since the 1980s; the organizational undermining of the 2008 financial crisis; and the role of local community structures in mediating patterns of housing market speculation.
is a Lecturer in International Relations at the University of Edinburgh. He studied history at Gonville and Caius College, Cambridge, before an 18-year career in investment banking in London and Hong Kong. He completed his PhD at Edinburgh in 2007. His articles have appeared in Review of International Political Economy, New Political Economy, The Sociological Review, Journal of Common Market Studies, and Economy and Society. His book, Financialization and Government Borrowing Capacity in Emerging Markets, is forthcoming with Palgrave.
is Associate Professor of Economic Sociology at the Copenhagen Business School in Denmark. Her books include Pop Finance: Investment Clubs and the New Investor Populism (2008), as well as the edited volume Deception: From Ancient Empires to Internet Dating (2009). After receiving a doctorate in Sociology from Harvard University, Harrington earned research prizes and grants from organizations such as the National Science Foundation, the Russell Sage Foundation, the Alexander von Humboldt Foundation, the American Sociological Association, and the Academy of Management. Her current project is a qualitative study of the wealth management profession, offshore banking, and cross-national patterns of inheritance and inequality.
Mark D. Jacobs
is Professor of Sociology at George Mason University, where from 1992–9 he was founding director of the first interdisciplinary PhD Program in Cultural Studies in the US. He is a past chair of the Section on the Sociology of Culture of the American Sociological Association, since September 2011 has been vice-chair of the Research Network on Culture of the European Sociological Association, and is the 2010–11 Robin M. Williams Distinguished Lecturer of the Eastern Sociological Society. He has written Screwing the System and Making It Work: Juvenile Justice in the No-Fault Society (1990); collaborated with Gerald D. Suttles on Front-Page Economics (2010); and coedited The Blackwell Companion to the Sociology of Culture (2005).
is Professor of Economics at TELUQ, Université du Québec à Montréal. His research deals with the history of financial economics, and, more recently, with econophysics and its links with financial economics. Among his most recent publications are “The Construction of the Canonical History of Financial Economics,” History of Political Economy (2008) and “The History of Econophysics’ Emergence: A New Approach in Modern Financial Theory” (with Christophe Schinckus), forthcoming in History of Political Economy (2013).
is a PhD candidate in the Department of Sociology at Harvard University. His research interests include organizational and economic sociology and the sociology (p. xv) of financial markets. His dissertation explores how increased pressure from financial markets has reshaped the behavior of firms, focusing on workforce downsizings by large American corporations between 1981 and 2006.
Karin Knorr Cetina
is George Wells Beadle Distinguished Service Professor of Sociology and Anthropology at the University of Chicago and project leader of research on scopic media at the University of Konstanz. Her publications include Maverick Markets: The Virtual Societies of Financial Markets (forthcoming); Epistemic Cultures: How the Sciences Make Knowledge (2003, 3rd edn); The Sociology of Financial Markets (edited with Alex Preda; 2005); “Global Microstructures: The Virtual Societies of Financial Markets” (with Urs Bruegger, American Journal of Sociology, 2002).
is the Sanford C. Bernstein & Co. Professor of Leadership and Ethics and Director of the Sanford C. Bernstein Center for Leadership and Ethics at Columbia Business School. He received his PhD from the MIT Sloan School of Management and holds an honorary doctorate from the Stockholm School of Economics. Previously, he was on the faculties of the Wharton School of the University of Pennsylvania and INSEAD, and he has been a research fellow and visiting professor at the Rand Corporation, École Polytechnique, Social Science Research Center Berlin, Stockholm School of Economics, Humboldt University, Santa Fe Institute, the Singapore Management University, and Tsinghua University, among others.
is Head of the School of Geography and Professor of Economic Geography at the University of Nottingham. His research focuses on geographies of money and finance and on the implications of digital technology for the musical economy. Recent publications include The Sage Handbook of Economic Geography (edited with Roger Lee, Linda McDowell, and Peter Sunley; 2011) and Geographies of the New Economy (edited with Peter Daniels, Jon Beaverstock, and Mike Bradshaw; 2007). In 2007 he was elected as an Academician of the Academy of Social Sciences.
works in the sociology of science and technology and in the sociology of markets, especially of financial markets. He holds a personal chair in sociology at the University of Edinburgh, where he has taught since 1975. His most recent books are An Engine, Not a Camera: How Financial Models Shape Markets (2006); Do Economists Make Markets? On the Performativity of Economics (2007), coedited with Fabian Muniesa and Lucia Siu; and Material Markets: How Economic Agents are Constructed (2009).
is Professor of Accounting and Finance at the York Management School, University of York, and previously held a chair at the University of Sheffield. Her major research interests are in accounting and business history, corporate governance, and women as savers and investors. Recent publications include “The Wife's Administration of the Earnings? Working-class Women and Savings in the Mid-nineteenth Century,” Continuity and Change (2011); and (with J. Rutterford, J. Green, A. Owens) “Who Comprised the Nation of Shareholders? Gender and Investment in Great Britain, c. 1870–1935,” The Economic History Review (2011).
(p. xvi) Bill Maurer
is Professor of Anthropology and Law at the University of California, Irvine. His work on the anthropology of money and finance has considered the offshore financial services sector in the Caribbean, Islamic banking, and, most recently, mobile phone-enabled money transfer and savings services. He is the author of Recharting the Caribbean: Land, Law and Citizenship in the British Virgin Islands (1997); Pious Property: Islamic Mortgages in the United States (2006); and Mutual Life, Limited: Islamic Banking, Alternative Currencies, Lateral Reason (2005). The latter was awarded the Victor Turner Prize.
Juan Pablo Pardo-Guerra
is Lecturer in Sociology at the London School of Economics and Political Science. Trained in physics and science and technology studies, Juan Pablo's work deals with the sociology of technological innovation in financial markets.
Aaron Z. Pitluck
holds a two-year research fellowship with the Political Economy Research Group at Central European University (Budapest) and is an Associate Professor in the Department of Sociology and Anthropology at Illinois State University. Most recently he has researched how illiquidity influences professional investors’ behavior, and how and why professional investors herd in the global south. He has published in Economy and Society and the Society for Economic Anthropology monograph series.
is a Scholar in Residence at the Institute for Public Knowledge, New York University. She holds a PhD from the Studies Program at University of California, San Diego. She is currently working on a book manuscript entitled What Lenders See that Tells the History of the U.S. Consumer Credit Rating System.
is Professor of Accounting and Director of the Centre for the Analysis of Risk and Regulation (CARR) at the London School of Economics. He was educated at St Edmund Hall, Oxford, and at Girton College, Cambridge; is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), and an Associate member of the UK Chartered Institute of Taxation. In 2009 he was awarded an honorary doctorate in Economics by the University of St Gallen, Switzerland, and in 2011 he was made an honorary fellow of the Institute of Risk Management. He is the author of The Audit Society: Rituals of Verification (1999), which has been translated into Italian, Japanese, and French; and Organized Uncertainty: Designing a World of Risk Management (2007).
is Professor of Accounting, Accountability, and Financial Management in the Department of Management at King's College London. He is the author of, among others, Framing Finance: The Boundaries of Markets and Modern Capitalism (2009) and Information, Knowledge and Economic Life: An Introduction to the Sociology of Markets (2009). He is currently writing an ethnography of electronic financial markets. His present research interests are communication and decision making, the valuation of persons, and social competitions.
(p. xvii) Janette Rutterford
is Professor of Financial Management at the Open University Business School. Her research interests are the history of investment, women investors, equity valuation, and pension fund management. Her most recent books include Introduction to Stock Exchange Investment (2008, 3rd edn) and she is the coeditor of Women and their Money 1700–1950: Essays on Women and Finance (2009) and of Men, Women and Money: Perspectives on Gender, Wealth and Investment (2011).
is the Robert S. Lynd Professor of Sociology and the co-chairs Committee on Global Thought, Columbia University (<www.saskiasassen.com>). Her recent books are Territory, Authority, Rights: from Medieval to Global Assemblages (Princeton Universtiy Press 2008), A Sociology of Globalization (W. W. Norton 2007), and the 4th-fully updated edition of Cities in a World Economy (Sage 2011). The Global City came out in a new fully updated in 2001. Her books are translated into twenty-one languages. She is currently working on When Territory Exits Existing Frameworks (under contract with Harward University Press). She contributes regularly to www.Opendemocracy.net
Lucia Leung-sea Siu
is Assistant Professor in the Department of Sociology and Social Policy, Lingnan University, Hong Kong. She is coeditor (with Donald MacKenzie and Fabian Muniesa) of Do Economists Make Markets? On the Performativity of Economics (2008), and council member of the Hong Kong Sociological Association. She got her PhD from the University of Edinburgh.
Charles W. Smith,
Professor Emeritus of Sociology, Queens College and the Graduate Schools of CUNY, has been engaged in ethnographic research of auction, primarily financial, markets since the mid-1960s. His books include The Mind of the Market (1981), Auctions (1989), and Success and Survival on Wall Street (1999). His more recent publications include “Coping with Contingencies in Equity Option Markets: The ‘Rationality’ of Pricing” in The Worth of Goods (2011), “Staging Auctions: Enabling Exchange Values to be Contested and Established” in Negotiating Value in the Creative Industries; “Markets as Definitional Practices,” CJS (2007); and “Financial Edgework: Trading in Market Currents,” in Edgework: The Sociology of Risk Taking (2005). His primary focus has been on how markets cope with ambiguity and contingencies.
is Arthur Lehman Professor of Sociology and International Affairs at Columbia University, where he directs the Center on Organizational Innovation. Stark's most recent book, The Sense of Dissonance: Accounts of Worth in Economic Life (2009) examines the perplexing situations in which organizations search for what is valuable. Papers from his various research projects are available at www.thesenseofdissonance.com.
has been Professor of Sociology at Cornell University, Department of Sociology, since 2002. His specialties are economic sociology and social theory. His works include Max Weber and the Idea of Economic Sociology (1998), Principles of Economic Sociology (2003), and Tocqueville's Political Economy (2009). He is currently working on the financial crisis and how to theorize in social science.
(p. xviii) Olav Velthuis
is Associate Professor at the Department of Sociology and Anthropology of the University of Amsterdam. He is the author of Imaginary Economics (2005) and Talking Prices: Symbolic Meanings of Prices on the Market for Contemporary Art (2005), which received the Viviana Zelizer Distinguished Book Award of the American Sociological Association for the best book in economic sociology (2006). Before this he worked as a staff reporter on globalization for the Dutch daily de Volkskrant, as a visiting postdoctoral researcher at Columbia University and as assistant professor at the University of Konstanz. Velthuis is currently studying the emergence and development of art markets in the BRIC countries (Brazil, Russia, India, and China).
holds a PhD in sociology from the University of Konstanz and since 2010 has been a research fellow at the University of Lucerne, working on a project on economic and financial image practices. His forthcoming monograph Cultures of Expertise in Global Currency Markets provides a first empirical study of market cultures and expert practices in the area of foreign exchange.
is a cultural anthropologist and Associate Professor of Business and of Social & Cultural Analysis at New York University. Her research examines emerging forms of knowledge and practice related to financial risk. Her book Out of the Pits: Traders and Technology from Chicago to London (2006) showed how traders, managers, and technology designers enact formal ideals of economic reason in trading screens and dealing rooms. Zaloom is currently working on a book about the practices of household finance (around education, housing, health care, and retirement) in an age of debt.
Ezra W. Zuckerman
is a Professor at the MIT Sloan School of Management, where he holds the Nanyang Technology University chair and holds appointments in the TIES (Technological Innovation, Entrepreneurship, and Strategic Management) group and the Economic Sociology PhD Program (ESP). He cofounded the ESP in 2006, and since 2009, he has been the academic director of the MIT Sloan PhD Program. Zuckerman received his PhD in Sociology from the University of Chicago in 1997. From 1997 to 2001, he taught at the Stanford Graduate School of Business. Zuckerman's research ranges over several related problem domains, including: (a) how positions in social networks relate to different valued outcomes; (b) the causes and consequences of close ties between economic actors; (c) how market dynamics are shaped by structures of classification; (d) how social status affects behavior and valued outcomes; and (e) the conditions under which social valuations approximate or depart from objective conditions.