In the latest issue of Administrative Science Quarterly, Peer C. Fiss of the University of Southern California published a book review of “Markets on Trial: The Economic Sociology of the U.S. Financial Crisis,” edited by Michael Lounsbury and Paul M. Hirsch:
As the most recent in a long line of market crashes, the devastating financial crisis of 2008 has been the focus of a number of sensemaking attempts, including several highly visible works by journalists such as Lewis (2010) and Sorkin (2009). Most of these works seek to construct a coherent perspective of the financial meltdown, aiming to provide the reader with an authoritative narrative. Markets on Trial: The Economic Sociology of the U.S. Financial Crisis takes a different approach. Starting with a commitment to economic sociology, this book brings together a diverse set of perspectives that are applied to a number of different aspects of the crisis along with the larger, seismic shifts that preceded it.
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