Money is a promise with future benefits or dangers that are unknowable
and incalculable. The financial sector is an attempt to beat
uncertainty by speculating on whether prices will rise or fall. No
matter how often the folly of this opportunism is shown through crisis
after crisis of trust, efforts to defeat uncertainty persist. Yet
uncertainty is unavoidable. Squeezed in one place, it emerges in
another. Based on extensive interviews with leading actors in the
financial sector, this book argues that the only way to cope with
uncertainty is by relying on emotions and values. It presents an
original explanation of how booms and busts arise from internal
disputes over the emotions of trust between global financial
corporations. Confidence and suspicion alternate between which
strategy may beat competitors and who is cheating whom. Just as the
first edition warned of continuing dangers in finance's betrayal of
society's trust, this new edition provides a sociological explanation
of how these irrational quests for certainty contributed to the
current financial crisis in the credibility of money.
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Booms, Busts and Uncertainty
Produktdetaljer
ISBN
9781139416061
Publisert
2014
Utgave
2. utgave
Utgiver
Vendor
Cambridge University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter