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Full-Text Articles in Social and Behavioral Sciences
Scenes From A Power Struggle: The Rise Of Retail Investors In The Us Stock Market, Elisabeth Brooke Harrington
Scenes From A Power Struggle: The Rise Of Retail Investors In The Us Stock Market, Elisabeth Brooke Harrington
Brooke Harrington
This chapter examines the mass movement of Americans into investing during the 1990s as both a consequence and a cause of contested power between corporations and individuals. This movement was part of a larger historical pattern of economically marginalized people consolidating their power through associational strategies in the realm of finance. Using US investment clubs as a case study, the chapter draws on Foucault’s theories to illuminate the bilateral power structure of modern capitalism, in which market institutions and small groups at the grassroots level mutually influence one another. While the investment club movement was in part a response to …
Shame And Stock Market Losses: The Case Of Amateur Investors In The Us., Elisabeth Brooke Harrington
Shame And Stock Market Losses: The Case Of Amateur Investors In The Us., Elisabeth Brooke Harrington
Brooke Harrington
Losing money evokes a host of emotions, most of them painful. In his earliest work, Adam Smith wrote of the “embarrassment” and shame associated with financial losses, with bankruptcy being “the greatest and most humiliating calamity” of all (2010 [1776]: 149). More recently, the financial crisis of 2008 has been defined by shame, guilt, and anger, both at the individual and collective levels (Brasset and Clarke 2012). As United States Treasury Secretary Hank Paulson observed, “we have in many ways humiliated ourselves as a nation” (2008). These emotions may be particularly troubling for Americans, used to regarding their country as …