Songs Of Profit Songs Of Loss Private Equity Wealth And Inequality

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Songs of Profit, Songs of Loss: Private Equity, Wealth, and Inequality

Daniel Scott Souleles
Songs of Profit Songs of Loss Private Equity Wealth and Inequality Book PDF

Author : Daniel Scott Souleles
Publisher : U of Nebraska Press
Page : 270 pages
File Size : 40,9 Mb
Release : 2019-06
Category : Business & Economics
ISBN : 9781496215444

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Songs of Profit, Songs of Loss: Private Equity, Wealth, and Inequality by Daniel Scott Souleles Pdf

Since the early 1980s, private equity investors have heralded and shepherded massive changes in American capitalism. From outsourcing to excessive debt taking, private equity investment helped normalize once-taboo business strategies while growing into an over $3 trillion industry in control of thousands of companies and millions of workers. Daniel Scott Souleles opens a window into the rarefied world of private equity investing through ethnographic fieldwork on private equity financiers. Songs of Profit, Songs of Loss documents how and why investors buy, manage, and sell the companies that they do; presents the ins and outs of private equity deals, management, and valuation; and explains the historical context that gave rise to private equity and other forms of investor-led capitalism. In addition to providing invaluable ethnographic insight, Songs of Profit, Songs of Loss is also an anthropological study of inequality as Souleles connects the core components of financial capitalism to economic disparities. Souleles uses local ideas of “value” and “time” to frame the ways private equity investors comprehend their work and to show how they justify the prosperity and poverty they create. Throughout, Souleles argues that understanding private equity investors as contrasted with others in society writ large is essential to fully understanding private equity within the larger context of capitalism in the United States.

The Routledge Handbook of Critical Finance Studies

Christian Borch,Robert Wosnitzer
The Routledge Handbook of Critical Finance Studies Book PDF

Author : Christian Borch,Robert Wosnitzer
Publisher : Taylor & Francis
Page : 443 pages
File Size : 41,5 Mb
Release : 2020-09-15
Category : Business & Economics
ISBN : 9781351627160

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The Routledge Handbook of Critical Finance Studies by Christian Borch,Robert Wosnitzer Pdf

There has been an increasing interest in financial markets across sociology, history, anthropology, cultural studies, and related disciplines over the past decades, with particular intensity since the 2007–2008 crisis which prompted new analyses of the workings of financial markets and how “scandals of Wall Street” might have huge societal ramifications. The sociologically inclined landscape of finance studies is characterized by different more or less well- established homogeneous camps, with more micro-empirical, social studies of finance approaches on the one end of the spectrum and more theoretical, often neo-Marxist approaches, on the other. Yet alternative approaches are also gaining traction, including work that emphasizes the cultural homologies and interconnections with finance as well as work that, more broadly, is both empirically rigorous and theoretically ambitious. Importantly, across these various approaches to finance, a growing body of literature is taking shape which engages finance in a critical manner. The term “critical finance studies” nonetheless remains largely unfocused and undefined. Against this backdrop, the key rationales of The Routledge Handbook of Critical Finance Studies are firstly to provide a coherent notion of this emergent field and secondly to demonstrate its analytical usefulness across a wide range of central aspects of contemporary finance. As such, the volume will offer a comprehensive guide to students and academics on the field of Finance and Critical Finance Studies, Heterodox Economics, Accounting, and related Management disciplines. Chapter 14 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.

Kochland

Christopher Leonard
Kochland Book PDF

Author : Christopher Leonard
Publisher : Simon & Schuster
Page : 704 pages
File Size : 40,8 Mb
Release : 2020-10-06
Category : Business & Economics
ISBN : 9781476775395

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Kochland by Christopher Leonard Pdf

NEW YORK TIMES BESTSELLER * NEW YORK TIMES NOTABLE BOOK OF 2019 * WINNER OF THE J ANTHONY LUKAS WORK-IN-PROGRESS AWARD * FINANCIAL TIMES’ BEST BOOKS OF 2019 * NPR FAVORITE BOOKS OF 2019 * FINALIST FOR THE FINACIAL TIMES/MCKINSEY BUSINESS BOOK OF 2019 * KIRKUS REVIEWS BEST BOOKS OF 2019 * SCHOOL LIBRARY JOURNAL BEST BOOKS OF 2019 “Superb…Among the best books ever written about an American corporation.” —Bryan Burrough, The New York Times Book Review Just as Steve Coll told the story of globalization through ExxonMobil and Andrew Ross Sorkin told the story of Wall Street excess through Too Big to Fail, Christopher Leonard’s Kochland uses the extraordinary account of how one of the biggest private companies in the world grew to be that big to tell the story of modern corporate America. The annual revenue of Koch Industries is bigger than that of Goldman Sachs, Facebook, and US Steel combined. Koch is everywhere: from the fertilizers that make our food to the chemicals that make our pipes to the synthetics that make our carpets and diapers to the Wall Street trading in all these commodities. But few people know much about Koch Industries and that’s because the billionaire Koch brothers have wanted it that way. For five decades, CEO Charles Koch has kept Koch Industries quietly operating in deepest secrecy, with a view toward very, very long-term profits. He’s a genius businessman: patient with earnings, able to learn from his mistakes, determined that his employees develop a reverence for free-market ruthlessness, and a master disrupter. These strategies made him and his brother David together richer than Bill Gates. But there’s another side to this story. If you want to understand how we killed the unions in this country, how we widened the income divide, stalled progress on climate change, and how our corporations bought the influence industry, all you have to do is read this book. Seven years in the making, Kochland “is a dazzling feat of investigative reporting and epic narrative writing, a tour de force that takes the reader deep inside the rise of a vastly powerful family corporation that has come to influence American workers, markets, elections, and the very ideas debated in our public square. Leonard’s work is fair and meticulous, even as it reveals the Kochs as industrial Citizens Kane of our time” (Steve Coll, Pulitzer Prize–winning author of Private Empire).

The Everyday Practice of Valuation and Investment

Horacio Ortiz
The Everyday Practice of Valuation and Investment Book PDF

Author : Horacio Ortiz
Publisher : Columbia University Press
Page : 373 pages
File Size : 54,7 Mb
Release : 2021-11-23
Category : Social Science
ISBN : 9780231553971

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The Everyday Practice of Valuation and Investment by Horacio Ortiz Pdf

The financial industry derives its legitimacy through the claim that it acts in the interest of shareholders. A vast international network of funds, banks, insurance companies, brokerages, rating agencies, and regulatory agencies defends its status by asserting that market mechanisms determine a company’s true value and therefore enriching shareholders contributes to the socially optimal allocation of capital. Is this how stock prices are determined in practice? What does stock valuation reveal about the supposed efficiency of markets and what it means to act on behalf of shareholders? Horacio Ortiz provides a critical analysis of the social institutions and practices that produce and regulate stock pricing and valuation. He examines how financial professionals evaluate and invest in listed companies, unraveling the contradictory definitions of financial value that shape their behavior. Ortiz demonstrates how ideologically laden notions of investing skill and efficient markets are central to the everyday practices of financial valuation, as well as how they function to justify the broader system. He scrutinizes the technical aspects of valuation and investment, their place in social relations within and among companies, and their relation to state regulation in order to demystify how the financial industry presents prices as truths that the rest of society must accept. Drawing on ethnographic fieldwork conducted among stock brokers and investment management companies in New York and Paris, this book shows how the political imaginaries that underpin financial markets are central to producing, sustaining, and legitimizing global inequalities.

People Before Markets

Daniel Scott Souleles,Johan Gersel,Morten Sørensen Thaning
People Before Markets Book PDF

Author : Daniel Scott Souleles,Johan Gersel,Morten Sørensen Thaning
Publisher : Cambridge University Press
Page : 499 pages
File Size : 43,6 Mb
Release : 2022-09-30
Category : Business & Economics
ISBN : 9781009165860

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People Before Markets by Daniel Scott Souleles,Johan Gersel,Morten Sørensen Thaning Pdf

Offers fresh perspectives on twenty important global questions, challenging traditional capitalist or neoliberal frameworks.

Health, Money, Commerce, and Wealth

Donald C. Wood,Raja Swamy
Health Money Commerce and Wealth Book PDF

Author : Donald C. Wood,Raja Swamy
Publisher : Emerald Group Publishing
Page : 220 pages
File Size : 42,9 Mb
Release : 2024-05-30
Category : Social Science
ISBN : 9781835490358

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Health, Money, Commerce, and Wealth by Donald C. Wood,Raja Swamy Pdf

Exploring the interconnectedness and uncertainty of today’s economic world, this volume thoughtfully considers core themes, current trends, and possibilities for the future.

Global Wealth Chains

Leonard Seabrooke
Global Wealth Chains Book PDF

Author : Leonard Seabrooke
Publisher : Oxford University Press
Page : 316 pages
File Size : 40,5 Mb
Release : 2022
Category : Asset allocation
ISBN : 9780198832379

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Global Wealth Chains by Leonard Seabrooke Pdf

The world economy operates around the production of value and the creation and protection of wealth. Firms and other actors use global value chains to make the most for the least cost, ideally also contributing to economic development. Firms and professionals use global wealth chains to create and protect wealth, strategically planning across multiple legal jurisdictions to control how assets are governed. The outcome of such planning often contributes to global inequality. While we know a great deal about value chains, we know much less about wealth chains. This volume explores how global wealth chains are articulated, issues of regulatory liability, and how social relationships between clients and service providers are important for governance issues. It explores how assets are governed across a range of sectors such as public utilities, food and alcohol, art, and pharmaceuticals, as well as in legal instruments like advance pricing agreements, tax treaties, regulatory standards, intellectual property, family trusts, and legal opinion. The book integrates insights from a range of disciplines including International Political Economy, Economic Geography, Sociology, Accounting, Management Studies, Anthropology, and Law to reveal how global wealth chains are used to govern assets in the world economy.

Whoosh Goes the Market

Daniel Scott Souleles
Whoosh Goes the Market Book PDF

Author : Daniel Scott Souleles
Publisher : University of Chicago Press
Page : 236 pages
File Size : 47,5 Mb
Release : 2024
Category : Business & Economics
ISBN : 9780226833798

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Whoosh Goes the Market by Daniel Scott Souleles Pdf

A vivid, fast-paced inside look at financial markets, the people who work on them, and how technology is changing their world (and ours). Markets are messy, and no one knows this better than traders who work tirelessly to predict what they will do next. In Whoosh Goes the Market, Daniel Scott Souleles takes us into the day-to-day experiences of a team at a large trading firm, revealing what it's actually like to make and lose money on contemporary capital markets. The traders Souleles shadows have mostly moved out of the pits and now work with automated, glitch-prone computer systems. They remember the days of trading manually, and they are suspicious of algorithmically driven machine-learning systems. Openly musing about their own potential extinction, they spend their time expressing fear and frustration in profanity-laced language. With Souleles as our guide, we learn about everything from betting strategies to inflated valuations, trading swings, and market manipulation. This crash course in contemporary finance vividly reveals the existential anxiety at the evolving front lines of American capitalism.

Hedged Out

Megan Tobias Neely
Hedged Out Book PDF

Author : Megan Tobias Neely
Publisher : Univ of California Press
Page : 336 pages
File Size : 43,8 Mb
Release : 2022-01-11
Category : Business & Economics
ISBN : 9780520307704

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Hedged Out by Megan Tobias Neely Pdf

A former hedge fund worker takes an ethnographic approach to Wall Street to expose who wins, who loses, and why inequality endures. Who do you think of when you imagine a hedge fund manager? A greedy fraudster, a visionary entrepreneur, a wolf of Wall Street? These tropes capture the public imagination of a successful hedge fund manager. But behind the designer suits, helicopter commutes, and illicit pursuits are the everyday stories of people who work in the hedge fund industry—many of whom don’t realize they fall within the 1 percent that drives the divide between the richest and the rest. With Hedged Out, sociologist and former hedge fund analyst Megan Tobias Neely gives readers an outsider’s insider perspective on Wall Street and its enduring culture of inequality. Hedged Out dives into the upper echelons of Wall Street, where elite white masculinity is the standard measure for the capacity to manage risk and insecurity. Facing an unpredictable and risky stock market, hedge fund workers protect their interests by working long hours and building tight-knit networks with people who look and behave like them. Using ethnographic vignettes and her own industry experience, Neely showcases the voices of managers and other workers to illustrate how this industry of politically mobilized elites excludes people on the basis of race, class, and gender. Neely shows how this system of elite power and privilege not only sustains itself but builds over time as the beneficiaries concentrate their resources. Hedged Out explains why the hedge fund industry generates extreme wealth, why mostly white men benefit, and why reforming Wall Street will create a more equal society.

Dark Finance

Fabio Mattioli
Dark Finance Book PDF

Author : Fabio Mattioli
Publisher : Stanford University Press
Page : 297 pages
File Size : 51,8 Mb
Release : 2020-06-30
Category : Social Science
ISBN : 9781503612945

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Dark Finance by Fabio Mattioli Pdf

Dark Finance offers one of the first ethnographic accounts of financial expansion and its political impacts in Eastern Europe. Following workers, managers, and investors in the Macedonian construction sector, Fabio Mattioli shows how financialization can empower authoritarian regimes—not by making money accessible to everyone, but by allowing a small group of oligarchs to monopolize access to international credit and promote a cascade of exploitative domestic debt relations. The landscape of failed deals and unrealizable dreams that is captured in this book portrays finance not as a singular, technical process. Instead, Mattioli argues that finance is a set of political and economic relations that entangles citizens, Eurocrats, and workers in tense paradoxes. Mattioli traces the origins of illiquidity in the reorganization of the European project and the postsocialist perversion of socialist financial practices—a dangerous mix that hid the Macedonian regime's weakness behind a façade of urban renewal and, for a decade, made it seem omnipresent and invincible. Dark Finance chronicles how, one bad deal at a time, Macedonia's authoritarian regime rode a wave of financial expansion that deepened its reach into Macedonian society, only to discover that its domination, like all speculative bubbles, was teetering on the verge of collapse.

Anthro-Vision

Gillian Tett
Anthro Vision Book PDF

Author : Gillian Tett
Publisher : Simon and Schuster
Page : 304 pages
File Size : 47,5 Mb
Release : 2021-06-08
Category : Business & Economics
ISBN : 9781982140960

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Anthro-Vision by Gillian Tett Pdf

"In an age when business and finance are dominated by technology and data analysis, award-winning journalist and anthropology PhD Gillian Tett presents a radically different strategy for success: businesses and investors can revolutionize their understanding of behavior by studying consumers, markets, and organizations through an anthropological lens"--Jacket.

Back to America

William H. Westermeyer
Back to America Book PDF

Author : William H. Westermeyer
Publisher : U of Nebraska Press
Page : 300 pages
File Size : 48,9 Mb
Release : 2019-11-01
Category : Psychology
ISBN : 9781496218926

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Back to America by William H. Westermeyer Pdf

Back to America is an ethnography of local activist groups within the Tea Party, one of the most important recent political movements to emerge in the United States and one that continues to influence American politics. Though often viewed as the brainchild of conservative billionaires and Fox News, the success of the Tea Party movement was as much, if not more, the result of everyday activists at the grassroots level. William H. Westermeyer traces how local Tea Party groups (LTPGs) create submerged spaces where participants fashion action-oriented collective and personal political identities forged in the context of cultural or figured worlds. These figured worlds allow people to establish meaningful links between their own lives and concerns, on the one hand, and the movement's goals and narratives, on the other. Collectively, the production and circulation of the figured worlds within LTPGs provide the basis for subjectivities that often nurture political activism. Westermeyer reveals that LTPGs are vibrant and independent local organizations that, while constantly drawing on nationally disseminated cultural images and discourses, are far from simple agents of the larger organizations and the media. Back to America offers a welcome anthropological approach to this important social movement and to our understanding of grassroots political activism writ large.

Anthropology and Law

Mark Goodale,Sally Engle Merry
Anthropology and Law Book PDF

Author : Mark Goodale,Sally Engle Merry
Publisher : NYU Press
Page : 429 pages
File Size : 54,9 Mb
Release : 2017-05-02
Category : Social Science
ISBN : 9781479836857

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Anthropology and Law by Mark Goodale,Sally Engle Merry Pdf

An introduction to the anthropology of law that explores the connections between law, politics, and technology From legal responsibility for genocide to rectifying past injuries to indigenous people, the anthropology of law addresses some of the crucial ethical issues of our day. Over the past twenty-five years, anthropologists have studied how new forms of law have reshaped important questions of citizenship, biotechnology, and rights movements, among many others. Meanwhile, the rise of international law and transitional justice has posed new ethical and intellectual challenges to anthropologists. Anthropology and Law provides a comprehensive overview of the anthropology of law in the post-Cold War era. Mark Goodale introduces the central problems of the field and builds on the legacy of its intellectual history, while a foreword by Sally Engle Merry highlights the challenges of using the law to seek justice on an international scale. The book’s chapters cover a range of intersecting areas including language and law, history, regulation, indigenous rights, and gender. For a complete understanding of the consequential ways in which anthropologists have studied, interacted with, and critiqued, the ways and means of law, Anthropology and Law is required reading.

Private Equity and the Demise of the Local

Maryann Feldman,Martin Kenney
Private Equity and the Demise of the Local Book PDF

Author : Maryann Feldman,Martin Kenney
Publisher : Cambridge University Press
Page : 162 pages
File Size : 43,8 Mb
Release : 2024-05-23
Category : Business & Economics
ISBN : 9781009321815

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Private Equity and the Demise of the Local by Maryann Feldman,Martin Kenney Pdf

Capitalism is a powerful engine that requires finance. Private equity is part of the neoliberal transformation of capitalism that has failed the average citizen and unleashed a tsunami of leveraged acquisitions that have destroyed entire sectors of our economy. Private equity has become a powerful force that has moved from restructuring industrial firms to buying up just about any economic activity in local communities that has assets that can be monetized, without any consideration of the impact on the quality of life and well-being of the community. Th a process has been aided and abetted by government policy. The authors of this Element explain the workings of the private equity model and the reasons it has been so profitable. They document the effects of PE on firms and communities by examining a range of activities that once had a local focus. They conclude by offering policy recommendations.

Utopia

Thomas More
Utopia Book PDF

Author : Thomas More
Publisher : Good Press
Page : 113 pages
File Size : 46,7 Mb
Release : 2023-12-03
Category : Political Science
ISBN : EAN:8596547685586

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Utopia by Thomas More Pdf

Utopia is a work of fiction and socio-political satire by Thomas More published in 1516 in Latin. The book is a frame narrative primarily depicting a fictional island society and its religious, social and political customs. Many aspects of More's description of Utopia are reminiscent of life in monasteries.