olivier godechot

1. 4 September 2014. Introduction

Organization of the seminar

2. 11 September 2014. Historical approach of financial markets

Students’ presentation:

Michie Ranald, 1999, Chapter 1: “From Market to Exchange, 1693-1801”, The London Stock Exchange. A history, Oxford University Press.

Reading:

Carruthers Bruce, 1996, Chapter 6: “Politics and the joint-stock companies”, In: City of Capital. Politics and Markets in the English Financial Revolution, Princeton University Press, p. 138-159.

2. 18 September 2014. Financialization

Students’ presentation:

Krippner Greta, 2001, Chapter 5. “The making of the US monetary policy”, Capitalizing on Crisis: The Political Origins of the Rise of Finance, Harvard University Press, p. 106-137.

Reading:

Godechot Olivier, 2013, “Financialization and socio-spatial divides”, L’année sociologique, English Edition.

In French:

Godechot Olivier, 2013, « Financiarisation et fractures socio-spatiales », L'année sociologique, vol. 63, n°1, p. 17-50.

3. 25 September 2014. The performativity of financial theories

Students’ presentation:

Muniesa Fabian, 2014, “Discovering Stock-Prices”, in The Provoked Economy, Economic Reality and the Performative Turn, Routledge, p. 61-78.

Reading:

MacKenzie Donald, 2006, « Is economics performative? Option theory and the construction of derivatives markets », Journal of the History of Economic Thought, 28.1 (2006): 29-55.

4. 2 October 2014. Working on the market

Students’ presentation:

Ho Karen, 2009, Chapter 2: “Wall Street’s Orientation: Exploitation, Empowerment, and the Politics of Hard Work”, Liquidated, An ethnography of Wall Street, Duke University Press, p. 73-121

Reading:

Zaloom Caitlin, 2006, Chapter 2: “Trapped in the Pits”, Out of the Pits. Traders and Technology from Chicago to London, University of Chicago Press, p. 51-73.

5. 16 October 2014. Rationalities

Students’ presentation:

Preda Alex, 2007, “Where do analysts come from? The case of financial chartism”, Market devices, The Sociological Review, 55.s2, p. 40-64.

Reading:

Godechot Olivier, 2000, “Le bazar de la rationalité”, Politix, 13(52), 17-57.

In English: Godechot Olivier, 2000, “The bazaar of rationality”, Mimeo.

6. 30 October 2014. Social networks, prices and profits

Students’ presentation:

Baker Wayne, 1990, “Market networks and corporate behavior”, American journal of sociology, 589-625.

Reading:

Baker Wayne, 1984, “The Social Structure of a National Securities Market”, American Journal of Sociology, vol. 89, n°4, p. 775-811.

In French: Baker Wayne, 2005, “La structure sociale d’un marché à la criée”, Idees, n° 139, mars 2005, 56-69 et Idees, n° 140, juin 2005, 58-68.

8. 6 November 2014. Financial categories

Students’ presentation:

Ortiz Horacio, 2014, “The Limits of Financial Imagination: Free Investors, Efficient Markets, and Crisis”, American Anthropologist, 116 (1), p. 38-50.

Reading:

Zuckerman Ezra, 1999, “The categorical imperative : Securities analysts and the illegitimacy discount”, American Journal of Sociology, 104 (5), 1398-1438.

9. 13 November 2014. Finance labor market

Students’ presentation:

Groysberg Boris, 2010, Chapter12: “Measuring and rewarding Stars’ Performance”, Chasing Stars: The Myth of Talent and the Portability of Performance, p. 273-320.

 Reading:

Godechot Olivier, 2014, “Getting a Job in Finance. The role of collaboration ties”, European Journal of Sociology, vol. 55, n°1, p. 25-56.

10. 20 November 2014. Finance and transformations of firms

Students’ presentation:

Goldstein Adam, 2012, “Revenge of the Managers: Labor Cost-Cutting and the Paradoxical Resurgence Managerialism in the Shareholder Value Era, 1984 to 2001”, American Sociological Review, 77(2), 268-294.

Reading:

Jung Jiwook, Dobbin Frank, 2012, “Finance and Institutional Investors”, in : Knorr Cetina Karin, Preda Alex, Sociology of financial markets, p. 52-74

11. 27 November 2014. When finance gets into crisis

Students’ presentation:

Fligstein Neil, Brundage Jonah Stuart and Schultz Michael, 2014, Why the Federal Reserve Failed to See the Financial Crisis of 2008: The Role of “Macroeconomics” as Sensemaking and Cultural Frame, Department of Sociology, University of California Berkeley.

Reading:

MacKenzie Donald, 2011, “The Credit Crisis as a Problem in the Sociology of Knowledge”, American Journal of Sociology, 116 (6), p. 1778-1841.

12. 4. December 2014. Regulation: financial lobbies and the state

Students’ presentation:

Grossman Emiliano, 2004, “Bringing politics back in: rethinking the role of economic interest groups in European integration”, Journal of European Public Policy, 11(4),  637-654.

Reading:

Woll Cornelia, 2014, Chapter 3. “The Power of Collective Inaction”, The Power of Inaction. Bank Bailouts in Comparison, Duke University Press.




Financial markets have become a central institution of market societies but remain obscure.  Courses on finance and financial markets are generally devoted to technical dimensions such as option pricing, asset allocation or valuation of assets. The ambition of the Sociology of financial markets class is to consider financial markets also as a human institution, with its history, its hierarchies, its various forms of rationality, its set of norms and beliefs, its social networks, its cognitive categories or its labor market. Analyzing the concrete day to day functioning of the financial markets is crucial not only for understanding this specific institution but also for understanding the logics that are diffusing beyond. Hence, financial markets are at the forefront of new forms of capitalism and constitute therefore an excellent observatory of their development.

The course will build bridges between concrete examples of financial markets, recent advances in the emerging field of sociology of financial markets and classical studies in economic sociology.

The course will be of great value for all students interested or attracted by financial markets, either as a possible option for a professional career, as a matter of political concern, or as an exciting topic of scientific study.

The class will be taught in English.

Sciences Po, 27 rue Saint Guillaume, Room 26, Thursday 10h15-12h15, from 4 September 2014 to 4 December 2014.



Français | English

Actualités   

OgO: plus ici|more here

[Opinion] En marge de l'affaire CumEx... Il y a 20 ans... souvenirs ethnographiques de l’arbitrage (industriel) des dividendes à ...: plus ici|more here

[Sociology of financial markets] 1. 7 September 2018. Introduction Historical approach of financial markets Organization of the seminar Material for lecture:  Carruthers, Bruce G. 1999. ...: plus ici|more here

[Enseignements] Major inquiries in sociology: plus ici|more here

[Publications] Godechot (Olivier et al.), The Great Separation: Inequality, Segregation, and the Role of Finance, Destabilizing Orders–Understanding the Consequences of Neoliberalism:: plus ici|more here

[Publications] Godechot (Olivier), Conclusion. What finance manufactures, The making of finance: Perspectives from the Social Sciences: plus ici|more here

Tweets (rarely/rarement): @OlivierGodechot

[Webmestre]

[Fil rss]

[V. 0.93]

HOP

Système d'aide à la publication sur Internet


000

clics / mois.