Making markets: opportunism and restraint on Wall Street
Making Markets, an ethnography of Wall Street culture, offers a more complex picture of how the market and its denizens work. Not merely masses of individuals striving independently, markets appear here as socially constructed institutions in which the behavior of traders is suspended in a web of cu...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass. [u.a.]
Harvard Univ. Press
1996
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| Schlagworte: | |
| Zusammenfassung: | Making Markets, an ethnography of Wall Street culture, offers a more complex picture of how the market and its denizens work. Not merely masses of individuals striving independently, markets appear here as socially constructed institutions in which the behavior of traders is suspended in a web of customs, norms, and structures of control. Within these structures we see the actions that led to the Drexel Burnham and Salomon Brothers debacles not as bizarre aberrations, but as mere exaggerations of behavior accepted on the Street Mitchel Abolafia looks at three subcultures that co-exist in the world of Wall Street: the stock, bond, futures markets. Through interviews, anecdotes, and the author's skillful analysis, we see how traders and New York Stock Exchange specialists negotiate the perpetual tension between short-term self-interest and long-term self-restraint that marks their respective communities - and how the temptation toward excess spurs market activity. We also see the complex relationships among those market communities - why, for instance, NYSE specialists resent the freedoms permitted over-the-counter bond traders and futures traders. Making Markets shows us that what propels Wall Street is not a fundamental human drive or instinct, but strategies enacted in the context of social relationships, cultural idioms, and institutions - a cycle that moves between phases of unbridled self-interest and collective self-restraint |
| Beschreibung: | IX, 216 S. |
| ISBN: | 0674543246 |
Internformat
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| 520 | 3 | |a Making Markets, an ethnography of Wall Street culture, offers a more complex picture of how the market and its denizens work. Not merely masses of individuals striving independently, markets appear here as socially constructed institutions in which the behavior of traders is suspended in a web of customs, norms, and structures of control. Within these structures we see the actions that led to the Drexel Burnham and Salomon Brothers debacles not as bizarre aberrations, but as mere exaggerations of behavior accepted on the Street | |
| 520 | |a Mitchel Abolafia looks at three subcultures that co-exist in the world of Wall Street: the stock, bond, futures markets. Through interviews, anecdotes, and the author's skillful analysis, we see how traders and New York Stock Exchange specialists negotiate the perpetual tension between short-term self-interest and long-term self-restraint that marks their respective communities - and how the temptation toward excess spurs market activity. We also see the complex relationships among those market communities - why, for instance, NYSE specialists resent the freedoms permitted over-the-counter bond traders and futures traders. Making Markets shows us that what propels Wall Street is not a fundamental human drive or instinct, but strategies enacted in the context of social relationships, cultural idioms, and institutions - a cycle that moves between phases of unbridled self-interest and collective self-restraint | ||
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Datensatz im Suchindex
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| author | Abolafia, Mitchel Y. |
| author_facet | Abolafia, Mitchel Y. |
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| callnumber-sort | HG 46024.3 A26 41996 |
| callnumber-subject | HG - Finance |
| classification_rvk | QK 650 QP 611 |
| ctrlnum | (OCoLC)34772133 (DE-599)BVBBV011370367 |
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| dewey-ones | 332 - Financial economics |
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| dewey-search | 332.64 20 332.64 |
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| discipline | Wirtschaftswissenschaften |
| era | Geschichte 1850-1996 gnd |
| era_facet | Geschichte 1850-1996 |
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| spelling | Abolafia, Mitchel Y. Verfasser aut Making markets opportunism and restraint on Wall Street Mitchel Y. Abolafia Cambridge, Mass. [u.a.] Harvard Univ. Press 1996 IX, 216 S. txt rdacontent n rdamedia nc rdacarrier Making Markets, an ethnography of Wall Street culture, offers a more complex picture of how the market and its denizens work. Not merely masses of individuals striving independently, markets appear here as socially constructed institutions in which the behavior of traders is suspended in a web of customs, norms, and structures of control. Within these structures we see the actions that led to the Drexel Burnham and Salomon Brothers debacles not as bizarre aberrations, but as mere exaggerations of behavior accepted on the Street Mitchel Abolafia looks at three subcultures that co-exist in the world of Wall Street: the stock, bond, futures markets. Through interviews, anecdotes, and the author's skillful analysis, we see how traders and New York Stock Exchange specialists negotiate the perpetual tension between short-term self-interest and long-term self-restraint that marks their respective communities - and how the temptation toward excess spurs market activity. We also see the complex relationships among those market communities - why, for instance, NYSE specialists resent the freedoms permitted over-the-counter bond traders and futures traders. Making Markets shows us that what propels Wall Street is not a fundamental human drive or instinct, but strategies enacted in the context of social relationships, cultural idioms, and institutions - a cycle that moves between phases of unbridled self-interest and collective self-restraint New York Stock Exchange (DE-588)124897-2 gnd rswk-swf Geschichte 1850-1996 gnd rswk-swf Circulação de mercadorias larpcal Effectenbeurzen gtt Mercado financeiro - Estados unidos larpcal Mercado futuro larpcal Wall Street gtt Financial futures Bond market Stock exchanges Börsenhandel (DE-588)4274168-3 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf New York Stock Exchange (DE-588)124897-2 b Börsenhandel (DE-588)4274168-3 s Geschichte 1850-1996 z DE-604 USA (DE-588)4078704-7 g |
| spellingShingle | Abolafia, Mitchel Y. Making markets opportunism and restraint on Wall Street New York Stock Exchange (DE-588)124897-2 gnd Circulação de mercadorias larpcal Effectenbeurzen gtt Mercado financeiro - Estados unidos larpcal Mercado futuro larpcal Wall Street gtt Financial futures Bond market Stock exchanges Börsenhandel (DE-588)4274168-3 gnd |
| subject_GND | (DE-588)124897-2 (DE-588)4274168-3 (DE-588)4078704-7 |
| title | Making markets opportunism and restraint on Wall Street |
| title_auth | Making markets opportunism and restraint on Wall Street |
| title_exact_search | Making markets opportunism and restraint on Wall Street |
| title_full | Making markets opportunism and restraint on Wall Street Mitchel Y. Abolafia |
| title_fullStr | Making markets opportunism and restraint on Wall Street Mitchel Y. Abolafia |
| title_full_unstemmed | Making markets opportunism and restraint on Wall Street Mitchel Y. Abolafia |
| title_short | Making markets |
| title_sort | making markets opportunism and restraint on wall street |
| title_sub | opportunism and restraint on Wall Street |
| topic | New York Stock Exchange (DE-588)124897-2 gnd Circulação de mercadorias larpcal Effectenbeurzen gtt Mercado financeiro - Estados unidos larpcal Mercado futuro larpcal Wall Street gtt Financial futures Bond market Stock exchanges Börsenhandel (DE-588)4274168-3 gnd |
| topic_facet | New York Stock Exchange Circulação de mercadorias Effectenbeurzen Mercado financeiro - Estados unidos Mercado futuro Wall Street Financial futures Bond market Stock exchanges Börsenhandel USA |
| work_keys_str_mv | AT abolafiamitchely makingmarketsopportunismandrestraintonwallstreet |