Opportunism and Restraint on Wall Street
By (author) Mitchel Y. Abolafia
Normal Price: $59.95
Your Price: $53.96 AUD, inc. GST
Shipping: $7.95 per order
You Save: $5.99! (10% off normal price)
Plus...earn $2.70 in Boomerang Bucks
Availability: Available to Backorder, No Due Date for Supply
Making Markets by Mitchel Y. Abolafia
Book DescriptionIn the wake of million-dollar scandals brought about by Michael Milken, Ivan Boesky and their like, Wall Street seems like the province of rampant individualism operating at the outermost extremes of self-interest and greed. But this, Mitchel Adolafia suggests, would be a case of missing the real culture of the Street for the characters who dominate the financial news. "Making Markets", an ethnography of Wall Street culture, offers a more complex picture of how the market and its denizens work. Not merely masses of individuals striving independently, markets appear here as socially constructed institutions in which the behaviour of traders is suspended in a web of customs, norms and structures of control. Within these structures we see the actions that led to the Drexel Burnham and Salomon Brothers debacles not as bizarre aberrations, but as mere exaggerations of behaviour accepted on the Street. Abolafia looks at three subcultures that co-exist in the world of Wall Street: the stock, bond and futures markets. Through interviews, anecdotes and the author's skilful analysis, we see how traders and New York Stock Exchange "specialists" negotiate the perpetual tension between short-term self-interest and long-term self-restraint that marks their respective communities - and how the temptation toward excess spurs market activity. We also see the complex relationship among those market communities - why, for instance, NYSE specialists resent the freedoms permitted over-the-counter bond traders and futures traders. "Making Markets" shows us that what propels Wall Street is not a fundamental human drive or instinct, but strategies enacted in the context of social relationships, cultural idioms and institutions - a cycle that moves between phases of unbridled self-interest and collective self-restraint.
Buy Making Markets book by Mitchel Y. Abolafia from Australia's Online Bookstore, Boomerang Books.
Book DetailsISBN: 9780674006881
(235mm x 152mm x 16mm)
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 2-Oct-2001
Country of Publication: United States
» Have you read this book? We'd like to know what you think about it - write a review about Making Markets book by Mitchel Y. Abolafia and you'll earn 50c in Boomerang Bucks loyalty dollars (you must be a member - it's free to sign up!)
Author Biography - Mitchel Y. Abolafia
Mitchel Y. Abolafia is Associate Professor of Public Administration and Policy at the State University of New York at Albany.
Bestselling Books: Our Current Bestsellers | Australia's Hottest 1000 Books | Bestselling Fiction | Bestselling Crime Mysteries and Thrillers | Bestselling Non Fiction Books | Bestselling Sport Books | Bestselling Gardening and Handicrafts Books | Bestselling Biographies | Bestselling Food and Drink | Bestselling History | Bestselling Travel Books | Bestselling School Textbooks & Study Guides | Bestselling Children's General Non-Fiction | Bestselling Young Adult Fiction | Bestselling Children's Fiction | Bestselling Picture Books | Top 100 US Bestsellers
Phone: 1300 36 33 32 (9am-2pm Mon-Fri AEST) - International: +61 2 9960 7998 - Online Form
Address: Boomerang Books, 878 Military Road, Mosman Junction, NSW, 2088
© 2003-2016. All Rights Reserved. Eclipse Commerce Pty Ltd - ACN: 122 110 687 - ABN: 49 122 110 687
For every $20 you spend on books, you will receive $1 in Boomerang Bucks loyalty dollars. You can use your Boomerang Bucks as a credit towards a future purchase from Boomerang Books. Note that you must be a Member (free to sign up) and that conditions do apply.