Markets on Trial

Markets on Trial

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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.640 660 680 700 720 740 Alt-A Subprime 520 540 560 580 2006 1999 2000 2001 2002 2003 2004 2005 Fig. 2. ... Note: Alt-A mortgages are between prime and subprime home loans. 600 620 average credit score, but no change in the average scores for performing and non-performing loans, just a decline in the generalanbsp;...

Title:Markets on Trial
Author:Michael Lounsbury, Paul Morris Hirsch
Publisher:Emerald Group Publishing - 2010


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