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‘Watching the market’

In: The Illusion of Management Control

Author

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  • Urs Stäheli

Abstract

Financial speculation always refers to the visual. In 1754, Samuel Johnson’s Dictionary defined the practice of speculation as ‘examination by the eye’. Etymologically, speculation derives from the Latin verb speculare, which refers not to an economic practice, but more generally to looking out for something which is not already there. Speculation in the sense of financial speculation was first mentioned at the end of the eighteenth century. The semantics of financial speculation remains closely tied to the visual, as in Walpole’s comparison of the folly of speculation with that of pictures (OED). Additionally, its semantics are now morally coded, often as evil, and, at the same time, it is linked to the figure of the adventurer.

Suggested Citation

  • Urs Stäheli, 2012. "‘Watching the market’," Palgrave Macmillan Books, in: Niels Thygesen (ed.), The Illusion of Management Control, chapter 8, pages 204-222, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36539-1_9
    DOI: 10.1057/9780230365391_9
    as

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