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”Life is a fake. All that is real are the stock prices” - Simulating Authenticity in Financial Markets

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  • Norberg, Peter

    ()
    (Dept. of Business Administration, Stockholm School of Economics)

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    Abstract

    Technology has contributed to what Max Weber termed the disenchantment of the world. Re-enchantment is a broad tendency than has hitherto been described. This overlooked movement within post-industrial business stretches into financial markets. Presently, we observe magic, morality and narrative being allowed to enter business. Re-enchantment helps us to understand the evolution of post-modern markets, as it partly forms the present exit from industrial society. This piece of research takes a micro-sociological interest with the mentality and culture of financial markets. It also has a macro-sociological character in dealing with the process of rationalisation in society. The article gives a contribution to theory about the evolving entertainment economy under the heading of re-enchantment. The experience of meaning or alternatively deprivation of meaning is decisive for behaviour and interaction at work. Technology in work is vital for this. I study four important aspects of a desired re-enchantment; sense of community, expression, myth and magic, and morality.

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    File URL: http://swoba.hhs.se/hastba/papers/hastba2003_015.pdf
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    Bibliographic Info

    Paper provided by Stockholm School of Economics in its series Working Paper Series in Business Administration with number 2003:15.

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    Length: 39 pages
    Date of creation: 28 Dec 2003
    Date of revision: 02 Sep 2004
    Handle: RePEc:hhb:hastba:2003_015

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    Keywords: re-enchantment; financial markets; morality; meaning;

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