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Markets on Trial: Pt. A and B: The Economic Sociology of the U.S. Financial Crisis (Research in the Sociology of Organizations) (Research on Emotion in Organizations)

Markets on Trial: Pt. A and B: The Economic Sociology of the U.S. Financial Crisis (Research in the Sociology of Organizations) (Research on Emotion in Organizations)

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  • ISBN-13: 9780857242419
  • Publisher: Emerald Group Publishing Limited
  • Release Date: Jul 27, 2010
  • Pages: 666 pages
  • Dimensions: 2.7 x 9.8 x 6.4 inches

Overview

Since the mid-20th century, organizational theorists have increasingly distanced themselves from the study of core societal power centers and important policy issues of the day. This has been driven by a shift away from the study of organizations, politics, and society and towards a more narrow focus on instrumental exchange and performance. As a result, our field has become increasingly impotent as a critical voice and contributor to policy. For a contemporary example, witness our inability as a field to make sense of the recent U.S. mortgage meltdown and concomitant global financial crisis. It is not that economic and organizational sociologists have nothing to say. The problem is that while we have a great deal of knowledge about finance, the economy, entrepreneurship and corporations, we fail to address how the knowledge in our field can be used to contribute to important policy issues of the day. This double-volume brings together some of the very top scholars in the world in economic and organizational sociology to address the recent global financial crisis debates and struggles around how to organize economies and societies around the world.

Table of Contents
1: Markets on Trial: Towards a Policy-Oriented Economic Sociology, Michael Lounsbury (University of Alberta) and Paul M. Hirsch (Northwestern University)
2: The Anatomy of the Mortgage Securitization Crisis, Neil Fligstein and Adam Goldstein (University of California at Berkeley)
3: The Structure of Confidence and the Collapse of Lehman Brothers, Richard Swedberg (Cornell University)
4: The Role of Ratings in the Subprime Mortgage Crisis: The Art of Corporate and the Science of Consumer Credit Rating, Akos Rona-Tas (University of California at San Diego) and Stefanie Hiss (University of Jena)
5: Knowledge and Liquidity: Institutional and Cognitive Foundations of the SubPrime Crisis, Bruce Carruthers (Northwestern University)
6: Terminal Isomorphism and the Self-Destructive Potential of Success: Lessons from Sub-Prime Mortgage Origination and Securitization, Jo-Ellen Pozner (University of California at Berkeley), Mary Katherine Stimmler (University of California at Berkeley) & Paul Hirsch (Northwestern University)
7: A Normal Accident Analysis of the Mortgage Meltdown, Don Palmer and Michael Maher (University of California at Davis)
8: The Global Crisis of 2007-2009: Markets, Politics, and Organizations, Mauro F. Guillén (University of Pennsylvania) and Sandra L. Suárez (Temple University)
9: Regulating and Redesigning Finance: Market Architectures, Normal Accidents and Dilemmas of Regulatory Reform, Marc Schneiberg (Reed College) and Tim Bartley (Indiana University)
10: The Meltdown was not an Accident, Charles Perrow (Yale University)
11: The Misapplication of Mr. Michael Jensen: How Agency Theory Brought Down the Economy and Why it Might Again, Frank Dobbin and Jiwook Jung (Harvard University)
12: Neoliberalism in Crisis: Regulatory Roots of the U.S. Financial Meltdown, John Campbell (Dartmouth College)
13: The American Corporate Elite and the Historical Roots of the Financial Crisis of 2008, Mark Mizruchi (University of Michigan)
14: The Political Economy of Financial Exuberance, Greta Krippner (University of Michigan)
15: The Institutional Embeddedness of Market Failure: Why Speculative Bubbles Still Occur, Mitch Abolafia (State University of New York at Albany)
16: The Social Construction of Causality: The Effects of Institutional Myths on Financial Regulation, Anna Rubtsova (Emory University), Rich DeJordy (Boston College), Mary Ann Glynn (Boston College) and Mayer Zald (University of Michigan)
17: Business Cycles, Entrepreneurship, and Economic Crisis in the Commercial Building Market: Toward a Mesoeconomics, Tom Beamish and Nicole Biggart (University of California at Davis)

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