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The financial industry derives its legitimacy through the claim that it acts in the interest of shareholders. A vast international network of funds, banks, insurance companies, brokerages, rating agencies, and regulatory agencies defends its status by asserting that market mechanisms determine a company’s true value and therefore enriching shareholders contributes to the socially optimal allocation of capital. Is this how stock prices are determined in practice? What does stock valuation reveal about the supposed efficiency of markets and what it means to act on behalf of shareholders? Horacio Ortiz provides a critical analysis of the social institutions and practices that produce and regu...
An increasing number of activities in everyday life are being evaluated and experienced in terms of performance metrics. This book examines this assemblage of networks of observation -- in which all are performing and keeping score -- and their attendant emotional pathologies across various industries and occupations.
Offering insightful anthropological-historical contributions to the understanding of elites worldwide, this book helps us grasp their ways of life and role in times of contested global inequalities. Case studies include the Polish gentry, the white former colonial elite of Mauritius, professional elites, and transnational (financial) elites.
Women, and particularly poor women, have become essential cogs in the wheel of financialized capitalism. Globally, women are responsible for managing household debt, and that debt has exploded over the last decade, reaching an all-time high after the COVID-19 pandemic. Across various categories of loans, including subprime lending, microcredit policies, and consumer loans, as well as rent and utilities, women are overrepresented as clients and managers, and are being enfolded into the system. The Indebted Woman discusses the crucial yet invisible roles poor women play in making and consolidating debt and credit markets. Isabelle Guérin, Santosh Kumar, and G. Venkatasubramanian spent over tw...
Combining history and ethnography, it traces the evolution of extra-legality in modern Indian finance and its socioeconomic ramifications.
The 'ethical turn' in anthropology has been one of the most vibrant fields in the discipline in the past quarter-century. It has fostered new dialogue between anthropology and philosophy, psychology, and theology and seen a wealth of theoretical innovation and influential ethnographic studies. This book brings together a global team of established and emerging leaders in the field and makes the results of this fast-growing body of diverse research available in one volume. Topics covered include: the philosophical and other intellectual sources of the ethical turn; inter-disciplinary dialogues; emerging conceptualizations of core aspects of ethical agency such as freedom, responsibility, and affect; and the diverse ways in which ethical thought and practice are institutionalized in social life, both intimate and institutional. Authoritative and cutting-edge, it is essential reading for researchers and students in anthropology, philosophy, psychology and theology, and will set the agenda for future research in the field.
In the aftermath of the 2008 financial crisis, more than 14 million U.S. homeowners filed for foreclosure. Focusing on the hard-hit Sacramento Valley, Noelle Stout uncovers the predacious bureaucracy that organized the largest bank seizure of residential homes in U.S. history. Stout reveals the failure of Wall Street banks’ mortgage assistance programs—backed by over $300 billion of federal funds—to deliver on the promise of relief. Unlike the programs of the Great Depression, in which the government took on the toxic mortgage debt of Americans, corporate lenders and loan servicers ultimately denied over 70 percent of homeowner applications. In the voices of bank employees and homeowne...
A sweeping critique of how digital capitalism is reformatting our world. We now live in an “ordinal society.” Nearly every aspect of our lives is measured, ranked, and processed into discrete, standardized units of digital information. Marion Fourcade and Kieran Healy argue that technologies of information management, fueled by the abundance of personal data and the infrastructure of the internet, transform how we relate to ourselves and to each other through the market, the public sphere, and the state. The personal data we give in exchange for convenient tools like Gmail and Instagram provides the raw material for predictions about everything from our purchasing power to our character....
Acclaim for the first edition: 'The volume is a remarkable contribution to economic anthropology and will no doubt be a fundamental tool for students, scholars, and experts in the sub-discipline.' – Mao Mollona, Journal of the Royal Anthropological Institute 'This excellent overview would serve as an excellent text for advanced undergraduate and graduate-level classroom use. . . Because of the clarity, conciseness, and accessibility of the writing, the chapters in this volume likely will be often cited and recommended to those who want the alternative and frequently culturally comparative perspective on economic topics that anthropology provides. Highly recommended. All academic levels/lib...