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The New Swiss Banking Elite? Plurality and Polarization of Careers
Abstract
This thesis questions the emergence of a new Swiss banking elite. It relies on a biographical database composed of executive directors and non-executive directors of 37 Swiss banks (N = 487) as well as a series of 20 biographical interviews. First, I show that there is a polarization within the Swiss banking elites, between an international pole on the one hand and a national pole on the other. The new elite is rather located on the international pole. Second, I establish a typology of the geographical mobility of the careers of banking elites. I identify four types attesting the plurality of the career paths: national careers, early international careers, international careers and European careers. Thirdly, I identify individual pathways leading to the hierarchical top of a bank. Through this career analysis, I show how the social space of banking elites is highly differenciated. Fourth, I analyze dispositions and strategies of presentations of self by banking elites. I show an opposition between the figure of the wealh manager and the figure of the investment banker, embodied by a new elite. In conclusion, I affirm that there is indeed a new banking elite, characterized by its internationality and its relationship to performance. However, this new group did not replaced the old ones and Swiss banking elites remain a group defined by its plurality.
... Some authors study the growing importance of 'international capital' (Wagner, 2007) or 'cosmopolitan capital' (Bühlmann et al., 2013) among business elites, in the form of professional experience and education abroad, transnational networks, or multiple language proficiency. While the importance of international experience varies from one country to another (Hartmann, 2018), it seems that having a spell abroad is a new career path of contemporary business elites in European countries (Araujo, 2020;Schneickert, 2018;Timans & Johan, 2018). Nevertheless, there has been less attention paid to the impact of globalisation on the careers of business elites in older historical periods, notably throughout the entire nineteenth and twentieth centuries. ...
... Along with new flows of capital coming from other countries, there was also an explosion of new financial products and services offered by large banks and cantonal banks. The larger banks started to specialise in investment banking at a global level and recruit specialists with college degrees in economics and finance (Araujo, 2020). The profile of Axel Weber, the president of UBS in 2020, illustrates this shift from vocational training to an academic profile. ...
Swiss capitalism has changed over time, adopting elements of the coordinated market economy and liberal market economy during specific historical periods. Taking the case of the Swiss banking sector, this article aims to demonstrate how these changes in structure also result in the transformation of the profiles of banking elites. Relying on a prosopog-raphy of 301 top bankers distributed among seven benchmark years (1890, 1910, 1937, 1957, 1980, 2000, and 2020), we show continuities and discontinuities in the main resources needed to hold a career as an elite banker in Switzerland at distinct times of capitalism. Our results show a long-term persistence of family capitalism among private banks, the erosion of national institutions such as vocational training and the militia army, and the different forms of internationalisation in the careers of bankers, following waves of globalisation and deglobalisation.
... Like other transnational phenomena, impact investing is also locally anchored, and studying this local anchoring-here, through the case of Geneva-is crucial to understand its concrete implementation mechanisms (Attencourt and Siméant 2015). Geneva has a long financial and banking history and a highly integrated financial field (Araujo 2020;Mazbouri and Guex 2010) dominated by ancient families and private banks active in wealth management. Geneva is also known for its philanthropic initiatives, led by foundations and banks (David and Heiniger 2019;David, Heiniger, and Bühlmann 2016;David et al. 2016). ...
Coined by the Rockefeller Foundation in 2007, impact investing has often been showcased as a disruptive approach to finance, by its promoters. This paper examines the emergence of impact investing in Geneva and shows that this discourse can be qualified when it comes to the concrete conditions of its emergence, as a field. Literature on impact investing emergence has mainly examined this process under the lens of its intermediary status and its connection to various proximate fields, especially the state. But the present case shows a local emergence that is driven by incumbent market actors from traditional finance. We argue that such an emergence relies on strategies capitalizing on microfinance, a characteristic practice of Geneva, controlled by the main financial actors of the city. Based on qualitative fieldwork consisting of interviews and document analyses, the paper reconstructs the rise and evolution of impact investing in Geneva over the past two decades, showing that dominant private banks of Geneva directly or indirectly propelled most of the asset management firms positioned today in impact investing, relying on various mechanisms, such as practice relabeling, and strategic innovations.
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Cet article analyse la longévité des familles à la tête des banques privées suisses à travers trois exemples : les banques Pictet & Cie, Julius Bär et Sarasin. En observant la composition des associés-gérants de ces banques à travers différentes générations, il démontre une longévité variable de la présence de descendants familiaux. Si un désengagement des familles s’observe dans la période historique récente pour Julius Bär et Sarasin, la banque Pictet & Cie est, en revanche, toujours au cœur de diverses stratégies entreprises par les associés-gérants pour le maintien d’un contrôle familial.
This is a User's Guide of the R package TraMineR version 1.8.
Résumé
Cette thèse questionne l’affirmation et les transformations des sciences économiques (économie politique et gestion d’entreprise) en Suisse au XXe siècle. Nous utilisons une base de données biographiques sur cinq cohortes (1910, 1937, 1957, 1980, 2000) de professeurs d’université (N=561). Premièrement nous montrons que les sciences économiques s’affirment institutionnellement et disciplinairement dans l’académie. En particulier le capital académique (positions de recteurs) des professeurs de sciences économiques est le plus important parmi toutes les disciplines dans la période récente. Deuxièmement les professeurs de sciences économiques deviennent les professeurs les plus représentés parmi les élites économiques suisses (les grands patrons). Certains réalisent également des carrières parmi les élites politiques (les élus nationaux) et les élites administratives (les hauts fonctionnaires fédéraux). Nous observons une standardisation des carrières des professeurs entre deux types de profil : purement académique et partiellement extra-académique. Troisièmement nous montrons un processus de « nationalisation » des profils de professeurs après 1918 et de ré-internationalisation après 1945. Nous observons un déplacement d’une internationalité d’« excellence » scientifique des pays germanophones et francophones vers les USA. Finalement nous voyons que le capital scientifique (citations dans des revues prestigieuses) est lié au capital cosmopolite (internationalité) et opposé aux capitaux académique, économique et politique, plus nationaux. Quatrièmement cette opposition est confirmée par l’étude des interactions entre différents capitaux des professeurs. Nous identifions ainsi d’un côté un pôle scientifique et international et de l’autre un pôle « mondain », caractérisé par des capitaux nationaux, académiques, politiques et économiques. Le pôle scientifique utilise de plus en plus les mathématiques, et chacun des deux pôles a ses propres domaines de spécialisation. Nous observons que la dominance parmi les professeurs, outre l’usage de mathématiques et l’étude d’objets particuliers, se traduit également par une interdisciplinarité relativement soutenue, particulièrement avec les sciences « dures ». En conclusion nous affirmons que c’est par cette division du travail entre deux pôles de professeurs, ceux liés à la pratique scientifique et à l’excellence internationale, et ceux liés à l’administration des universités, des entreprises et de l’Etat, et par le renforcement historique de cette division, que les professeurs de sciences économiques sont « partout » et que la discipline a pu affirmer son pouvoir dans la société suisse.
Summary
This dissertation focuses on the “rise” and transformations of economic sciences (economics and business studies) in Switzerland over the 20th century. It relies on a biographical database divided into five benchmarks (1910, 1937, 1957, 1980, 2000) of university professors (N=561). First I show that economic sciences rise as a discipline and in the institutional hierarchy of academia. In particular in terms of academic capital (positions of vice chancellors) of the professors, the economic sciences have become the most important among all the disciplines in the recent period. Second professors of economic sciences have become the most represented professors among the Swiss economic elites (the CEOs of large corporations). Some also pursue careers among political elites (national elected officials) and administrative elites (federal high civil servants). I observe a standardization of the careers of professors between two types of profile: purely academic and partially extra-academic. Third I show a process of "nationalization" of professors’ profiles after 1918 and of re-internationalization after 1945. I observe a definitional shift of the internationality of scientific "excellence" from the German-speaking and French-speaking countries to the USA. Finally I notice that scientific capital (citations in prestigious journals) is linked to cosmopolitan capital (internationality) and opposed to more national academic, economic and political capitals. Fourth this opposition is confirmed by the study of the interactions between the different capitals of the professors. I identify on the one hand a scientific and international pole and on the other a “society” pole, characterized by national academic, political and economic capitals. The scientific pole increasingly uses mathematics, and each of the two poles has its own research areas. I observe that dominance among professors, besides the use of mathematics and the study of particular objects, is also reflected in a relatively sustained interdisciplinarity, particularly with the "hard" sciences. In conclusion I argue that it is by this division of labour between two poles of professors, those linked to scientific practice and international excellence, and those related to the administration of universities, corporations and the state, and by historically strengthening this division, that professors of economic sciences are "everywhere" and that the discipline has been able to reinforce its power in Swiss society.
Multiple correspondence analysis (MCA) is a statistical technique that first and foremost has become known through the work of the late Pierre Bourdieu (1930–2002). This book will introduce readers to the fundamental properties, procedures and rules of interpretation of the most commonly used forms of correspondence analysis. The book is written as a non-technical introduction, intended for the advanced undergraduate level and onwards.
MCA represents and models data sets as clouds of points in a multidimensional Euclidean space. The interpretation of the data is based on these clouds of points. In seven chapters, this non-technical book will provide the reader with a comprehensive introduction and the needed knowledge to do analyses on his/her own: CA, MCA, specific MCA, the integration of MCA and variance analysis, of MCA and ascending hierarchical cluster analysis and class-specific MCA on subgroups. Special attention will be given to the construction of social spaces, to the construction of typologies and to group internal oppositions.
This is a book on data analysis for the social sciences rather than a book on statistics. The main emphasis is on how to apply MCA to the analysis of practical research questions. It does not require a solid understanding of statistics and/or mathematics, and provides the reader with the needed knowledge to do analyses on his/her own.
Research on European business elites has been dominated by a ‘national career model’ approach, arguing that each country has a specific top management career pattern. In recent years, this line of argument has been challenged due to the increasing international circulation of top managers. To examine the impact of internationalisation on career models, we will draw on a database of 916 top managers in Germany, Switzerland, France and Britain. Our field-analytical analysis reveals that the most important career distinction – between internal and external careers – is valid beyond national models. In addition, international managers do not constitute a separate homogenous group: in some countries, they imitate national career patterns; in others, they pursue complementary strategies.
Although much has been written about the need for effective nonprofit leadership and management, less attention has been paid to the unique career paths taken by professionals who occupy the highest nonprofit staff positions. This study investigated who is serving in the role of executive leader of nonprofit organizations and the variables that may affect reaching the CEO position. Data for this research included a random sample of LinkedIn profiles of local and regional leaders from 12 national nonprofit organizations. K-modes cluster analysis and multiple regression modeling revealed clues for understanding the career trajectories of current top leaders and resulted in the development of a new typology for nonprofit executive career paths. Significant factors affecting the path to the CEO role included gender, education, age, mission-focused career, and sector-specific experience. These findings inform nonprofit professional career decision making and guide boards in the executive selection process.
Dans cet article, nous examinons les différentes interactions qui caractérisent un projet d’enquête en sciences sociales fondé sur l’exploitation des données du réseau social professionnel LinkedIn. Ce retour réflexif sur ce que nous appelons le « laboratoire invisible » de l’enquête nous permet de mettre en évidence les conflits d’interprétation qui naissent autour de la définition de ce qu’est une « donnée » tirée du web. Dès lors, la constitution d’une base de données ne doit pas apparaître comme une opération technique de la recherche mais comme un processus de transformation des « inscriptions » individuelles sur le réseau en « données », processus que nous appelons « datafication ». Ce processus passe par la confrontation de « masques » différents que posent sur ces inscriptions les acteurs du « laboratoire invisible » de la recherche : le sociologue et le spécialiste de l’information et du web mais aussi l’utilisateur du réseau, la plateforme et le régulateur public.
This paper deals with the interactions that occur during a research project based on the exploitation of social media data gathered on LinkedIn. Our reflexive approach to what we call the invisible laboratory of the research project allows us to describe the conflicts of interpretations that characterizes those data and the definition of data on the web. The production of our dataset is described as a social process involving the transformation of users “inscriptions” into sociological data. We call this process “datafication” and study the many actors that are involved in it: the sociologist, the IT and web specialist, the LinkedIn user, the social media and the public body in charge of data privacy regulations.
En este artículo se reflexiona sobre las diferentes interacciones que caracterizan a un proyecto de encuesta en ciencias sociales sobre la explotación de los datos de la red social profesional LinkedIn. Esta reflexión sobre lo que llamamos el “laboratorio invisible” de la encuesta permite destacar los conflictos de interpretación que surgen en torno a la definición de lo que es un dato tomado de la web. Por lo tanto, el establecimiento de una base de datos no debe aparecer como una operación técnica de la investigación, sino como un proceso de transformación de “inscripciones” individuales en la red en “datos”, un proceso que llamamos “datafication”. Este proceso implica la confrontación de “máscaras” que se ponen los actores del laboratorio invisible por encima de aquellas inscripciones: el sociólogo y el especialista de la información y de la web, sino también el usuario de la red, la plataforma y el regulador público.
Dans quelle mesure les grandes entreprises suisses ont-elles résisté à l’avènement du capitalisme managérial, puis financier ? À travers cette question, Stéphanie Ginalski poursuit deux objectifs principaux : mettre en évidence la persistance du capitalisme familial, longtemps associé à un mode de gouvernance dépassé, et éclairer les débats actuels sur le capitalisme financier par la perspective historique. Ces questions, d’une grande actualité, restent peu étudiées pour le cas de la Suisse. Ce livre comble ainsi une lacune importante.
À travers le cas de l’industrie des machines, de l’électrotechnique et de la métallurgie, l’auteur analyse l’évolution des modes de gouvernance des grandes entreprises suisses et, partant, celle des différentes formes de capitalisme au cours du XXe siècle. Elle adopte une démarche pluridisciplinaire qui relève à la fois de l’histoire d’entreprise et de la sociologie des dirigeants, tout en faisant appel, de façon novatrice, à différentes méthodes telles que l’analyse de réseau et la prosopographie
pour mieux saisir la complexité du sujet.
Ce livre montre que durant la majeure partie du xxe siècle, la plupart des grandes entreprises du secteur étudié sont restées en mains familiales et ont ainsi largement résisté à la « révolution managériale ». Si la fin du siècle est marquée par plusieurs changements qui confirment l’avènement d’un capitalisme dit financier ou actionnarial, les familles n’ont de loin pas disparu du monde de la grande entreprise pour autant.
La récente proposition du Conseil fédéral visant à introduire des quotas de femmes dans les entreprises suisses suscite de vifs débats. Cet article aborde cette question dans une perspective historique, en revenant sur les facteurs qui ont contribué à l’exclusion durable des femmes des postes de pouvoir dans les plus grandes firmes. Durant la majeure partie du 20e siècle, les élites économiques suisses constituent un bastion masculin. Le processus de recrutement des dirigeants, qui repose sur une logique de cooptation et d’entre-soi, permet d’exclure presque totalement les femmes. Dès les années 1970, certaines femmes actives en politique ouvrent une première brèche, à la suite de l’instauration du suffrage féminin au niveau fédéral, et font leur entrée dans les conseils d’administration des grandes firmes du secteur de la distribution. Puis, dès les années 1990, deux facteurs contribuent à la féminisation progressive des conseils d’administration. Le Conseil fédéral favorise une politique d’égalité de genre dans les entreprises proches de la Confédération, et le processus de globalisation et d’internationalisation de l’économie contribue à affaiblir la cohésion des élites économiques, les femmes faisant leur entrée dans certaines multinationales. La Suisse reste cependant très en retard en comparaison des pays européens.
PhD thesis. Includes 7 papers on elites in Denmark
Female Survivors : The Unlikely Dispositions of Women Managers in the Financial Sector
Being a female top manager in the financial profession of mergings and acquisitions is the result of a double achievement : entering and remaining in a profession explicitely marked as male, and reaching the highest positions. This article highlights this achievement on the basis of a large survey combining a database of mergings and acquisitions actors in 2010, biographic interviews, and work observations. It shows how the professional ethos of the group, explicitely male, acts as a fence by restraining female access to top positions. This access therefore depends on a rather improbable combination of dispositions that enable them to adapt to this male professional ethos.
This article takes another look at the problem of methods posed by interviews with top administrators. Based on socio-historical research carried out with high civil servants, it argues in favour of an approach combining a semi-directive interview with a form of participatory objectivation, which authorises introducing other tools mobilised by the researcher, such as statistics, archives, etc., into the scope of these asymmetrical interviews. It also deals with a variety of issues arising in research on "elites": refusal to tape interviews, prior author-isation before quoting, the effects of dissemination of social science research among top administrators.
This article defends the thesis according to which understanding career norms and "production" of managers sheds a new light on the persistence of a glass ceiling in organizations. We show that discriminations which women experience in the company under study are embedded in organizational processes. They are part of the male career model in the shape of a spiral as well as the formal career management system. They are also due to informal selection and detection practices (network impact and plays of influence), role expectations and representations attached to the "manager" figure, which is at the center of competency evaluation tools. Contextualizing women's careers' curb helps to understand where to find the major resistance points to the feminization process of top management in a favorable institutional context (professional equality agreement, diversity enhancement policy).
In this major 'state of the art' survey, a highly distinguished team of contributors addresses the complex and crucial role of finance in European history during the period 1880–1960. Throughout the volume a comparative, global perspective is used in the analysis of a problem that may in fact be perceived at four levels. Firstly, the economic: what was the weight of the financial sector in a given economy? Secondly, the social: what was the specific position of the financial élites in society? Thirdly, the political: what was the impact of financial interests in politics? And finally the international: how was Europe's position as the 'world's banker' established, then gradually eroded?. Six European countries (the UK, France, Germany, Belgium, Sweden and Switzerland) are singled out for particular attention, and the rise of extra-European centres of financial power (notably USA and Japan) is considered in an extended concluding section. Both subjects and authors are truly international, and Finance and Financiers in European History makes a substantial contribution to an area of economic activity that is returning forcefully to the historical agenda.
This article focuses on the importance of quantifying Bourdieu’s “research programme”, linked with the concepts of field, habitus, and capital. It presents possible ways of doing statistics within this framework and argues that continuous methodological development should be pursued. To support this argument, the article highlights the methodology and empirical results of a doctoral dissertation on the Swiss field of economic sciences. It stresses the relevance of using a prosopographical strategy and advocates further development of multiple correspondence analysis, and the use of sequence analysis and social network analysis. The main contributions of these methods concern the investigation of subgroup profiles in fields, the trajectories of accumulation and conversion of capitals and the structure of social capital. When asking whether or not we should think with or beyond Bourdieu when suggesting new methodological developments to his programme, this article argues that we ought to think beyond his strict written work, but still within his theoretical framework, which proves particularly relevant to the study of power relations among individuals.
The financial crisis and the recession that followed caught many people off guard, including experts in the financial sector whose jobs involve predicting market fluctuations. Financial analysis offices in most international banks are supposed to forecast the rise or fall of stock prices, the success or failure of investment products, and even the growth or decline of entire national economies. And yet their predictions are heavily disputed. How do they make their forecasts—and do those forecasts have any actual value? Building on recent developments in the social studies of finance, Stories of Capitalism provides the first ethnography of financial analysis. Drawing on two years of fieldwork in a Swiss bank, Stefan Leins argues that financial analysts construct stories of possible economic futures, presenting them as coherent and grounded in expert research and analysis. In so doing, they establish a role for themselves—not necessarily by laying bare empirically verifiable trends but rather by presenting the market as something that makes sense and is worth investing in. Stories of Capitalism is a nuanced look at how banks continue to boost investment—even in unstable markets—and a rare insider’s look into the often opaque financial practices that shape the global economy.
This paper explores the role of time in Pierre Bourdieu’s social theory with a view to highlighting, and plugging, some of its conceptual gaps. It proceeds by identifying four elements of the social structuring of temporal experience: the temporal structure of consciousness; field rhythms and pace; imposed timings; and time binds. The first two of these Bourdieu brought to the fore, even if there are some aspects of his account in need of further development. The third he posited without tracing through the full conceptual consequences, while the fourth requires some reorientation and additional work to accommodate it. The latter I undertake by elaborating on a few concepts drawn from both Bourdieu’s corpus and phenomenology.
As said at the beginning of this section, the Culture Example was devised for illustrative purposes. Owing to the small number of questions, the geometric space that we have constructed is far from a genuine sociological “space of leisure activities”. In spite of its limitations, this space has enabled us to investigate structuring factors as Age and Education (problem of the first kind); and it might also serve for predicting the location of other cultural practices (problem of the second kind). For instance, for museum visiting, we read in Donnat (1998) that the most frequent response modalities are “with children” and “with partner”; these modalities — and the corresponding subclouds of individuals – are naturally located in the geometric space of the Culture Example. In spite of their tentative character, the conclusions also nicely concur with the studies concerning sociability in the French society: see e.g. Héran (1988).
Anorexia tends to be studied within health disciplines, such as medicine, psychoanalysis or psychology. When the condition is discussed in relation to society more broadly, focus is commonly restricted to considerations about the demise of the traditional family meal or the all-pervading obsession with thinness and media representations of ‘size zero’ models. But what can sociology tell us about anorexia and how a person becomes anorexic? This book draws on empirical research - both interviews and observation - conducted in and outside medical settings with anorexic girls, medical staff, teachers and other teenagers of the same age. As such, it offers the first fully sociological treatment of the condition, taking the reader closer to the actual experiences of people living with anorexia. It retraces the behaviours, practices and processes that create what is patterned as an anorexic ‘career’ and reveals the cultural and social characteristics of the people who engage on this path, taking them from a simple diet to hospitalization or recovery. Richly illustrated with qualitative research, Becoming Anorexic demonstrates that anorexia can be viewed as a very particular work of self-transformation, which requires specific - and social - ‘dispositions’. As such, it will appeal to scholars of sociology and anthropology with an interest in health and illness, the body, social class and gender.
Specifying network boundaries is fundamental in the study of social structures of elite networks. However, traditional methods do not offer clear criteria on either size or composition of the elite, and rely on numerous ad hoc decisions. A methodological framework that is inductive, reproducible and suitable for comparative research is proposed. First, a comprehensive dataset of the 5079 affiliation networks of all potentially powerful sectors in Denmark was assembled. Second, these heterogeneous affiliation networks were weighted to account for potential level of social integration. Third, a weighted modification of k-cores is used to identify a power elite of 423 individuals.
Americans are taught to believe that upward mobility is possible for anyone who is willing to work hard, regardless of their social status, yet it is often those from affluent backgrounds who land the best jobs. Pedigree takes readers behind the closed doors of top-tier investment banks, consulting firms, and law firms to reveal the truth about who really gets hired for the nation's highest-paying entry-level jobs, who doesn't, and why. Drawing on scores of in-depth interviews as well as firsthand observation of hiring practices at some of America's most prestigious firms, Lauren Rivera shows how, at every step of the hiring process, the ways that employers define and evaluate merit are strongly skewed to favor job applicants from economically privileged backgrounds. She reveals how decision makers draw from ideas about talent-what it is, what best signals it, and who does (and does not) have it-that are deeply rooted in social class. Displaying the "right stuff" that elite employers are looking for entails considerable amounts of economic, social, and cultural resources on the part of the applicants and their parents. Challenging our most cherished beliefs about college as a great equalizer and the job market as a level playing field, Pedigree exposes the class biases built into American notions about the best and the brightest, and shows how social status plays a significant role in determining who reaches the top of the economic ladder.
The aim of this paper is to explore how the restructuration of the Swiss banking field over the last four decades has affected the careers of Swiss banking elites. During this period the Swiss banking system has undergone a concentration process, has shifted its activities from retail to investment banking and has been thoroughly internationalized. Inspired by a bourdieusian framework, we examine the impact of these changes on top bankers careers. We conceptualize careers as dynamics of acquisition, accumulation and conversion of different types of capital and investigate different forms of internationality and mobility of top bankers. Using a database of 487 Executive and Non Executive Directors from 37 Swiss banks in 2010 we first perform a sequence analysis to understand different types of international and intersectoral careers. This is then completed by a multiple correspondence analysis which allows us to identify combinations of educational, social and cosmopolitan capital that lead to top positions in different areas of the Swiss banking field. Our findings show that a large part of Swiss bankers still pursue exclusively national careers and that truly international trajectories are limited to a small group of top bankers working in investment banking. These international careers in big banks, foreign banks and stock exchange banks are related to a large amount and particularly international type of educational capital, whereas careers of bank managers with no university education remain restricted to the national space. However, also managers of these regional and cantonal banks tend to imitate the internationality of big banker’s careers. They often spend a brief spell abroad at the beginning of their career or attend a short executive management program in order to give their career an international flavour.
The connection of masculinities with management now has to be understood in a context of globalization. Case studies from a set of interviews with managers in the Australian finance industry yield perspectives on the 'fractal' organization of neoliberal corporations and on the generic character of managerial labour. The uneven gender regime of finance corporations is examined, together with its conflictual relationship with the interests of wives. Managerial embodiment is considered as a significant site of gender construction. A model of three phases in the encounter of persons with the 'machine' of financial management is presented. A distinctive configuration of hegemonic masculinity is noted, with a penumbra of alternatives rather than well-defined subordinated masculinities.
This book presents an economic survey of international capital mobility from the late nineteenth century to the present. The authors examine the theory and empirical evidence surrounding the fall and rise of integration in the world market. A discussion of institutional developments focuses on capital controls and the pursuit of macroeconomic policy objectives in shifting monetary regimes. The Great Depression emerges as the key turning point in recent history of international capital markets, and offers important insights for contemporary policy debates. Its principal legacy is that today's return to a world of global capital is marked by great unevenness in outcomes regarding both risks and rewards of capital market integration. More than in the past, foreign investment flows largely from rich countries to other rich countries. Yet most financial crises afflict developing countries, with costs for everyone. © Maurice Obstfeld and Alan M. Taylor 2004 and Cambridge University Press, 2010.
The work of French sociologist Pierre Bourdieu has stimulated new interest in habituated forms of conduct. His concept of habitus has become a leading reference in the growing sociological literature on theories of human action as practices. This article presents Bourdieu's concept of habitus by calling attention to its intellectual context and identifying the features that relate to the sociology of habit. The article identifies common characteristics of action regulated by habit and offers four programmatic implications for occupational therapy interventions.
As one of the most prestigious high schools in the nation, St. Paul's School in Concord, New Hampshire, has long been the exclusive domain of America's wealthiest sons. But times have changed. Today, a new elite of boys and girls is being molded at St. Paul's, one that reflects the hope of openness but also the persistence of inequality. In Privilege, Shamus Khan returns to his alma mater to provide an inside look at an institution that has been the private realm of the elite for the past 150 years. He shows that St. Paul's students continue to learn what they always have--how to embody privilege. Yet, while students once leveraged the trappings of upper-class entitlement, family connections, and high culture, current St. Paul's students learn to succeed in a more diverse environment. To be the future leaders of a more democratic world, they must be at ease with everything from highbrow art to everyday life--from Beowulf to Jaws--and view hierarchies as ladders to scale. Through deft portrayals of the relationships among students, faculty, and staff, Khan shows how members of the new elite face the opening of society while still preserving the advantages that allow them to rule.
"Ce livre s'intéresse au patronat de la période qui marque la transition entre les entreprises familiales de la Révolution industrielle et les grandes bureaucraties façonnées par le pompidolisme industriel et les nationalisations. Les origines et les trajectoires de 194 dirigeants des 21 principaux groupes industriels privés de 1914 à 1966 sont décortiquées pour mettre en relation ce qu'ils sont et ce qu'ils font. Les spécificités nationales (profil généraliste, élitisme scolaire, poids des filières administratives) sont soulignées"
