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Awards
OverviewThe current economic crisis reveals just how central finance has become to American life. Problems with obscure securities created on Wall Street radiated outward to threaten the retirement security of pensioners in Florida and Arizona, the homes and college savings of families in Detroit and Southern California, and ultimately the global economy itself. The American government took on vast new debt to bail out the financial system, while the government-owned investment funds of Kuwait, Abu Dhabi, Malaysia, and China bought up much of what was left of Wall Street. How did we get into this mess, and what does it all mean?Managed by the Markets explains how finance replaced manufacturing at the center of the American economy and how its influence has seeped into daily life.From corporations operated to create shareholder value, to banks that became portals to financial markets, to governments seeking to regulate or profit from footloose capital, to households with savings, pensions, and mortgages that rise and fall with the market, life in post-industrial America is tied to finance to an unprecedented degree. Managed by the Markets provides a guide to how we got here and unpacks the consequences of linking the well-being of society too closely to financial markets. Full Product DetailsAuthor: Gerald F. Davis (, Wilbur K. Pierpont Collegiate Professor of Management, Ross School of Business, The University of Michigan)Publisher: Oxford University Press Imprint: Oxford University Press Dimensions: Width: 16.20cm , Height: 2.30cm , Length: 24.10cm Weight: 0.722kg ISBN: 9780199216611ISBN 10: 0199216614 Pages: 324 Publication Date: 26 March 2009 Audience: College/higher education , Professional and scholarly , Postgraduate, Research & Scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: To order ![]() Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of Contents"Preface 1: The New Financial Capitalism 2: Financial Markets and Corporate Governance 3: From Institution to Nexus: How the Corporation Got, then Lost, its Soul 4: From Banks to Markets: How Securitization Ended the ""Wonderful Life"" 5: From Sovereign to Vendor-State: How Delaware and Liberia Became the McDonalds and Nike of Corporate Law 6: From Employee and Citizen to Investor: How Talent, Friends, and Homes Became ""capital"" 7: Conclusion: A Society of Investors?"ReviewsManaged by the Markets gave me more food for thought than any of the other books mentioned in this review. In the past 20 years, finance did indeed triumph over other modes of enterprise in the U.S. and elsewhere. This was, as Davis says, a momentous shift. To the victor went the spoils, with far-reaching social and economic consequences. In contemplating the wreckage of the crisis, one should follow Davis's example, and ask whether this was inevitable or desirable, and what, if anything, we might learn from it. * Clive Crook, Strategy + Business, Best Books 2009 * The meltdown of American financial markets has been catastrophic but the cause elusive. In Managed by the Markets, Gerald Davis offers a compelling explanation for it and so much more. To understand the dis-integration of big corporations, securitization of just about everything, and transformation of our zeitgeist from producing products to making money, this is the book: a gripping portrait of the triumph of financial markets over all else. * Michael Useem, Professor of Management and Director of the Leadership Center at the Wharton School, University of Pennsylvania * In this intellectual tour de force, Jerry Davis describes the evolution of the American economy to where we are now - where everything is a security or an option and, therefore, tradeable in some sort of market. He also details the profound costs we have paid for this evolution. Timely, engaging, and filled with facts and analysis, Managed by the Markets explains how we got to where we are and maybe, just maybe, where we need to go next. * Jeffrey Pfeffer, Professor of Organizational Behavior at Stanford University and author of What Were They Thinking? Unconventional Wisdom About Management * A floodlight on the new economy with Davis' laser lighting up finance. Meltdowns, securitization, credit default swaps: all become frighteningly clear in his account of the fiscal revolution of the last two decades. * Charles Perrow, Emeritus Professor of Sociology, Yale University * an ambitious, magisterial, and yet not-too-long effort to sketch the social consquences of a finance-driven economy. * Matthew Yglesias, American Prospect * Timely and thought-provoking. * Choice * a valuable, timely and gripping analysis by Gerald F. Davis... Davis's book should be required reading for anyone, whether academic, practitioner, or policy maker, who needs to think critically about finance which, rather than a mechanistic set of transactions, is presented in the book as a social phenomenon that is invading our lives. * Nihel Chabrak, Berkeley Electronic Press * a valuable, timely and gripping analysis by Gerald F. Davis... Davis's book should be required reading for anyone, whether academic, practitioner, or policy maker, who needs to think critically about finance which, rather than a mechanistic set of transactions, is presented in the book as a social phenomenon that is invading our lives. Nihel Chabrak, Berkeley Electronic Press Timely and thought-provoking. Choice an ambitious, magisterial, and yet not-too-long effort to sketch the social consquences of a finance-driven economy. Matthew Yglesias, American Prospect A floodlight on the new economy with Davis' laser lighting up finance. Meltdowns, securitization, credit default swaps: all become frighteningly clear in his account of the fiscal revolution of the last two decades. Charles Perrow, Emeritus Professor of Sociology, Yale University In this intellectual tour de force, Jerry Davis describes the evolution of the American economy to where we are now - where everything is a security or an option and, therefore, tradeable in some sort of market. He also details the profound costs we have paid for this evolution. Timely, engaging, and filled with facts and analysis, Managed by the Markets explains how we got to where we are and maybe, just maybe, where we need to go next. Jeffrey Pfeffer, Professor of Organizational Behavior at Stanford University and author of What Were They Thinking? Unconventional Wisdom About Management The meltdown of American financial markets has been catastrophic but the cause elusive. In Managed by the Markets, Gerald Davis offers a compelling explanation for it and so much more. To understand the dis-integration of big corporations, securitization of just about everything, and transformation of our zeitgeist from producing products to making money, this is the book: a gripping portrait of the triumph of financial markets over all else. Michael Useem, Professor of Management and Director of the Leadership Center at the Wharton School, University of Pennsylvania Managed by the Markets gave me more food for thought than any of the other books mentioned in this review. In the past 20 years, finance did indeed triumph over other modes of enterprise in the U.S. and elsewhere. This was, as Davis says, a momentous shift. To the victor went the spoils, with far-reaching social and economic consequences. In contemplating the wreckage of the crisis, one should follow Davis's example, and ask whether this was inevitable or desirable, and what, if anything, we might learn from it. Clive Crook, Strategy + Business, Best Books 2009 a valuable, timely and gripping analysis by Gerald F. Davis... Davis's book should be required reading for anyone, whether academic, practitioner, or policy maker, who needs to think critically about finance which, rather than a mechanistic set of transactions, is presented in the book as a social phenomenon that is invading our lives. Nihel Chabrak, Berkeley Electronic Press Timely and thought-provoking. Choice an ambitious, magisterial, and yet not-too-long effort to sketch the social consquences of a finance-driven economy. Matthew Yglesias, American Prospect A floodlight on the new economy with Davis' laser lighting up finance. Meltdowns, securitization, credit default swaps: all become frighteningly clear in his account of the fiscal revolution of the last two decades. Charles Perrow, Emeritus Professor of Sociology, Yale University In this intellectual tour de force, Jerry Davis describes the evolution of the American economy to where we are now -- where everything is a security or an option and, therefore, tradeable in some sort of market. He also details the profound costs we have paid for this evolution. Timely, engaging, and filled with facts and analysis, Managed by the Markets explains how we got to where we are and maybe, just maybe, where we need to go next. Jeffrey Pfeffer, Professor of Organizational Behavior at Stanford University and author of What Were They Thinking? Unconventional Wisdom About Management The meltdown of American financial markets has been catastrophic but the cause elusive. In Managed by the Markets, Gerald Davis offers a compelling explanation for it and so much more. To understand the dis-integration of big corporations, securitization of just about everything, and transformation of our zeitgeist from producing products to making money, this is the book: a gripping portrait of the triumph of financial markets over all else. Michael Useem, Professor of Management and Director of the Leadership Center at the Wharton School, University of Pennsylvania Managed by the Markets gave me more food for thought than any of the other books mentioned in this review. In the past 20 years, finance did indeed triumph over other modes of enterprise in the U.S. and elsewhere. This was, as Davis says, a momentous shift. To the victor went the spoils, with far-reaching social and economic consequences. In contemplating the wreckage of the crisis, one should follow Davis's example, and ask whether this was inevitable or desirable, and what, if anything, we might learn from it. Clive Crook, Strategy + Business, Best Books 2009 Timely and thought-provoking. Choice an ambitious, magisterial, and yet not-too-long effort to sketch the social consquences of a finance-driven economy. Matthew Yglesias, American Prospect A floodlight on the new economy with Davis' laser lighting up finance. Meltdowns, securitization, credit default swaps: all become frighteningly clear in his account of the fiscal revolution of the last two decades. Charles Perrow, Emeritus Professor of Sociology, Yale University In this intellectual tour de force, Jerry Davis describes the evolution of the American economy to where we are now -- where everything is a security or an option and, therefore, tradeable in some sort of market. He also details the profound costs we have paid for this evolution. Timely, engaging, and filled with facts and analysis, Managed by the Markets explains how we got to where we are and maybe, just maybe, where we need to go next. Jeffrey Pfeffer, Professor of Organizational Behavior at Stanford University and author of What Were They Thinking? Unconventional Wisdom About Management The meltdown of American financial markets has been catastrophic but the cause elusive. In Managed by the Markets, Gerald Davis offers a compelling explanation for it and so much more. To understand the dis-integration of big corporations, securitization of just about everything, and transformation of our zeitgeist from producing products to making money, this is the book: a gripping portrait of the triumph of financial markets over all else. Michael Useem, Professor of Management and Director of the Leadership Center at the Wharton School, University of Pennsylvania Managed by the Markets gave me more food for thought than any of the other books mentioned in this review. In the past 20 years, finance did indeed triumph over other modes of enterprise in the U.S. and elsewhere. This was, as Davis says, a momentous shift. To the victor went the spoils, with far-reaching social and economic consequences. In contemplating the wreckage of the crisis, one should follow Davis's example, and ask whether this was inevitable or desirable, and what, if anything, we might learn from it. Clive Crook, Strategy + Business, Best Books 2009 Author InformationJerry Davis is the Wilbur K. Pierpont Collegiate Professor of Management at the University of Michigan's Ross School of Business. Davis received his PhD from Stanford University and has previously taught at Northwestern University and Columbia University. He has published widely in management, sociology, and finance. Recent books include Social Movements and Organization Theory (with Doug McAdam, W. Richard Scott, and Mayer N. Zald; Cambridge University Press, 2005) and Organizations and Organizing: Rational, Natural, and Open System Perspectives (with W. Richard Scott; Pearson Prentice Hall, 2007). He is currently Associate Editor of Administrative Science Quarterly and Co-Director of the Interdisciplinary Committee on Organization Studies (ICOS) at the University of Michigan. Tab Content 6Author Website:Countries AvailableAll regions |