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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)

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.

Suggested Citation

  • Norberg, Peter, 2003. "”Life is a fake. All that is real are the stock prices” - Simulating Authenticity in Financial Markets," SSE/EFI Working Paper Series in Business Administration 2003:15, Stockholm School of Economics, revised 02 Sep 2004.
  • Handle: RePEc:hhb:hastba:2003_015
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    References listed on IDEAS

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    1. Lundin, Rolf A. & Steinthórsson, Runólfur S., 2003. "Studying organizations as temporary," Scandinavian Journal of Management, Elsevier, vol. 19(2), pages 233-250, June.
    2. Lundin, Rolf A. & Söderholm, Anders, 1995. "A theory of the temporary organization," Scandinavian Journal of Management, Elsevier, vol. 11(4), pages 437-455, December.
    3. Packendorff, Johann, 1995. "Inquiring into the temporary organization: New directions for project management research," Scandinavian Journal of Management, Elsevier, vol. 11(4), pages 319-333, December.
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    Keywords

    re-enchantment; financial markets; morality; meaning;

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