Check nearby libraries
Buy this book
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.
Check nearby libraries
Buy this book
Previews available in: English
Showing 3 featured editions. View all 3 editions?
Edition | Availability |
---|---|
1
Making Markets: Opportunism and Restraint on Wall Street
October 30, 2001, Harvard University Press
Paperback
in English
- New Ed edition
0674006887 9780674006881
|
zzzz
Libraries near you:
WorldCat
|
2
Making Markets: Opportunism and Restraint on Wall Street
January 1, 1997, Harvard University Press
Hardcover
in English
0674543246 9780674543249
|
zzzz
Libraries near you:
WorldCat
|
3
Making markets: opportunism and restraint on Wall Street
1996, Harvard University Press
in English
0674543246 9780674543249
|
aaaa
Libraries near you:
WorldCat
|
Book Details
Edition Notes
Includes bibliographical references (p. [195]-211) and index.
Classifications
The Physical Object
ID Numbers
Excerpts
Community Reviews (0)
Feedback?History
- Created April 1, 2008
- 10 revisions
Wikipedia citation
×CloseCopy and paste this code into your Wikipedia page. Need help?
July 30, 2014 | Edited by ImportBot | import new book |
April 5, 2014 | Edited by ImportBot | Added IA ID. |
July 30, 2010 | Edited by IdentifierBot | added LibraryThing ID |
April 15, 2010 | Edited by bgimpertBot | Added goodreads ID. |
April 1, 2008 | Created by an anonymous user | Imported from Scriblio MARC record |