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New plots are badly needed in finance: Accounting for the financial crisis of 2007-2010

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Abstract

This paper reviews emplotments of interpretations of the financial crisis of 2007-2010. Whereas popular culture, including the media, has a tendency to insist on strong plots, repeating the same type of explanation, the intellectuals, especially those from humanities, offer atypical plots. Such deviant, and sometimes even subversive, plots are rejected or ignored by the public, however, which favors those of popular culture. The way significant and often startling events and facts relating to the world of accounting, finance and economy are cast or framed by stories and plots circulated in popular culture may well affect the attitudes and actions of members of the public and regulators toward such economy-related professions, and may negatively or positively affect the careers of practitioners in them. Therefore, perhaps it is opportune for management and organizational scholars, accounting researchers among them, to gain a greater understanding of the humanist concepts and approaches from cultural studies, some of which are presented in this paper. They may offer hope and clarity in navigating the gaps between matters of the accounting profession (economy) and popular culture.

Suggested Citation

  • Czarniawska, Barbara, 2011. "New plots are badly needed in finance: Accounting for the financial crisis of 2007-2010," GRI-rapport 2011:2, University of Gothenburg, Gothenburg Research Institute GRI.
    • Handle: RePEc:hhb:gungri:2011_002
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