Organization and Management Theory OMT

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Emerald is pleased to announce the publication of a new double volume in the series Research in the Sociology of Organizations on Markets on Trial: The Economic Sociology of the U.S. Financial Crisis, edited by Michael Lounsbury and Paul Hirsch.

Markets on Trial: The Economic Sociology of the U.S. Financial Crisis

Editors: Michael Lounsbury and Paul M. Hirsch

ISBN: 9780857242051 (Part A), 9780857242075 (Part B), 9780857242419 (Parts A and B)

Pub. Date: 15^th July 2010

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This book is available as part of the Emerald Business Management and Economics eBook Series Collection http://info.emeraldinsight.com/products/ebookseries/index.htm

It is also available from our bookstore, either individually or as a 2-volume set.

Synopsis

The current global financial crisis, catalyzed by the rapid drop in U.S. securitized mortgage valuations beginning in the summer 2007, has entailed a dramatic decrease in the availability of credit, wealth destruction linked to stock market valuations, the failure of banks and insurance companies, numerous other bankruptcies, the growth of governmental intervention, a deep and protracted recession, social unrest, and a general rise in the uncertainty of Capitalist institutions. It is in unsettled times such as these that hegemonic and taken-for-granted ideas and institutions may be challenged, and new alternatives cultivated. In the context of the early 21st century, it is the neoliberal ideal of unfettered free markets and market-based solutions that are on trial.

This special two volume collection of Research in the Sociology of Organizations features contributions by leading scholars in the field of Economic Sociology, offering an alternative to dominant interpretations of the crisis offered by mainstream economists. Focusing more on how economic activity is fundamentally interpenetrated with social, political and cultural dynamics, the lens of economic sociology offers a conceptual approach that is better able to shed light on how such crises are socially produced and managed. In addition, this intellectual canon has policy implications that can usefully expand current discussions of how to develop more efficacious regulatory structures and policies that may facilitate economic growth and development in a way that is more equitable and less volatile. 

Praise for the volumes:

Bravo! Finally, a stellar group of economic sociologists speak out about the antecedents, processes, and consequences of the 2008 financial crisis. Markets on Trial ably combines sharp analytic insights with much needed policy recommendations.

Viviana Zelizer, Lloyd Cotsen '50 Professor of Sociology, Princeton University, author of Economic Lives: How Culture Shapes the Economy

Now that it's clear to just about everyone that there are institutions and organizations behind markets and that both have a major hand in market failures, who are you going to call?  Organizational and economic sociologists of course!  This book assembles scholars of significant repute from both fields with much to say about why we are where we are today.  The messages are provocative and important.  It's time to listen to the voices in this timely and important book.  At the moment, this book should be on every thinking person's "to read" list.

Stephen R. Barley, Richard Weiland Professor and Co-Director, Center for Work, Technology and Organization, <st1:place w:st="on"><st1:placename w:st="on">Stanford</st1:placename> <st1:placetype w:st="on">University</st1:placetype></st1:place>

Markets on Trial is an essential foundation for understanding the Great Recession of 2008-09, and for averting future financial catastrophes.  Drawing on research by the era's premier economic sociologists, this volume makes a compelling case for seeing the subprime mortgage disaster, Lehman failure, and financial meltdown as predictable – and thus avoidable – products of free-market ideology, shareholder-value capitalism, misapplied agency-theory, corporate-elite fragmentation, and, ultimately, a massive failure of leadership. 

Michael Useem, Professor of Management and Director of the Center for Leadership and Change, <st1:placename w:st="on">Wharton</st1:placename> <st1:placetype w:st="on">School</st1:placetype>, <st1:place w:st="on"><st1:placetype w:st="on">University</st1:placetype> of <st1:placename w:st="on">Pennsylvania</st1:placename></st1:place>

For further information, or to request a copy for review or adoption, please contact <st1:personname w:st="on">Rebecca Forster</st1:personname>, rforster@emeraldinsight.com

<st1:personname w:st="on">Rebecca Forster</st1:personname>
Assistant Commissioning Editor
Emerald Group Publishing Limited

Phone: +44 (0)1274 785012
Fax: +44 (0) 1274 785204

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