Alex Preda

in Framing Finance

Published by University of Chicago Press

Published in print July 2009 | ISBN: 9780226679310
Published online February 2013 | e-ISBN: 9780226679334 | DOI:

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This chapter provides the domain of historical documents in order to explore how these boundaries of finance works. Such boundaries are not a mere historical curiosity, but something which is very much with us, and forcefully so. In the light of their historical development, the chapter explores the proliferation of cognitive intermediations, valuations, interpretations, and predictions of market movements. Returning to the issue of status groups, it asks whether, in an era of automated transactions, securities analysts will play an ever growing role as the prominent status group in financial markets. Recent financial scandals, as well as regulatory measures, suggest that this is already happening. With regard to the almost total dependence of contemporary financial transactions on sophisticated technological systems. The chapter raises the question of whether new forms of manipulation and deceit constitute the dark side of what is taken to be rationalization and progress. It also explores a whole series of phenomena, such as fascination with charismatic speculators. In an era of global markets, the boundaries of finance play a crucial role in legitimating both universal market expansion and reform projects, such as the ones concerning pension systems.

Keywords: automated transactions; pension systems; universal market expansion; reform projects; charismatic speculators; financial scandals; financial markets; boundaries of finance; securities analysts; cognitive intermediations; status groups

Chapter.  7108 words. 

Subjects: Sociology

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