Emotions in Finance: Distrust and Uncertainty in Global Markets

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Cambridge University Press, Nov 23, 2004 - Business & Economics - 228 pages
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Fear and greed are terms that make light of the uncertainty in the finance world. Huge global financial institutions rely on emotional relations of trust and distrust to suppress the uncertainties. Many financial firms develop policies towards risk, rather than accepting the reality of an uncertain future. They amass data in the futile hope of gaining certainty and to claim their options are more risk-freea than competitors. Emotions in Finance examines the views of experienced elites in the international financial world. It argues the current financial era is driven by a utopianism a hope--that the future can be collapsed into the present. It points out policy implications of this short-term view at the unstable peak of global finance. This book provides a timely account of the influence of emotion and speculation on the worldas increasingly volatile financial sector. The author includes absorbing interview material from public and private bankers in the United States, UK and Australia.
  

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Contents

Emotion in the Kingdom of Rationality
17
The Financial Media as Institutional Trust Agencies
43
Emotions in the Boardroom
67
Credibility and Confidence in the Central Banks
94
Hierarchies of Trust
113
Overwhelmed by Numbers
133
The Time Utopia in Finance
157
Emotions and Rationality
183
References
209
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About the author (2004)

Jocelyn Pixley is a senior lecturer in the School of Sociology and Anthropology at the University of New South Wales, Australia.

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