By Suhaib Riaz. *
“Socializing finance” has become shorthand to describe the research that several scholars (including me) are engaged in related to social studies of finance. This stream of work involves: bringing finance into the realm of social studies; but also making the industry aware of other ways of thinking and doing, beyond their current status quo; this also often has an element of (social) interaction with the industry thrown in. All these are consistent with various meanings of ‘socializing’ and are much needed efforts.
But there is a flip side to this aspect. How critically aware are we that finance is also on a mission to socialize us – in the sense of influencing our thinking – even as we may attempt to ‘socialize’ it?
In my work (in collaboration most prominently with Sean Buchanan, Trish Ruebottom, Madeline Toubiana) and that of a few other scholars, this seems to be a theme too powerful and important to ignore.
Finance is indeed at work to socialize us – to influence our ways of thinking about it through various means. At the peak of the financial crisis, various categories of elite actors seemed bounded by these ways of thinking about the financial industry resulting in configurations of positions often in favor of status quo (see Riaz et al., 2011). More specifically, financial industry leadership may well see it as their task to defend the institutional framework in which the current version of their industry thrives; and accordingly work to ‘socialize’ the rest of us – all stakeholders- to accept their view of finance and its role in society as the ultimate one by claiming epistemic authority in this domain (see Riaz et al., 2016). Continue reading
By Stephan Manning and Marcus M. Larsen.
One of the big themes in the current presidential race is how decades of free trade have dealt a heavy blow to the American worker as millions of jobs were shipped overseas to take advantage of cheap labor.
That’s even turned some pro free-trade Republicans into protectionists. As a result, the candidates are promising to bring these jobs back to the U.S. – whether by lowering taxes (Donald Trump), improving skills (Hillary Clinton) or building infrastructure (Bernie Sanders).
But can all these manufacturing, service and knowledge-intensive jobs that were outsourced or offshored to China, India and other places really be “brought back,” as the candidates seem to believe?
David L. Levy, UMass Boston.
It’s approaching three years since hurricane Sandy killed over 230 people in 8 countries, and wreaked havoc on the New York-New Jersey region – and put climate adaptation firmly on the national agenda. Sandy, which disrupted at least 450,000 businesses in New York and New Jersey, illustrated how cascading impacts not only damage property but also disrupt businesses for extended periods of time, due to the interaction of power and communication outages, infrastructure damage, and supply chain disruptions. These complex interactions were not adequately understood or anticipated. The reinsurance company Munich Re has estimated insured losses at $25 billion and total losses of at least $50 billion in the US from Sandy. Looking to the future, the 2011 Mass Climate Adaptation report notes that: “Sea level rise of 0.65 meters (26 inches) in Boston by 2050 could damage assets worth an estimated $463 billion”. Cities and states have begun to devote significant resources to planning for sea level rise, more frequent and intense storms, and more intense heat and drought. In one design-for-climate-change scenario, Boston would be transformed into an American Venice.
By Keshav Krishnamurty and Stephan Manning.
In professional academia, where you either publish or perish, finding examples of engaged scholarship is rare. By ‘engaged’ we mean experience-driven, problem-oriented, impactful. Last Friday, we had the privilege – as members of the OSC research group – to meet a community of scholars in Cambridge, MA, who care deeply about their work and impact – at the workshop “Africa in the 21st Century: Prospects for Secure Sustainable Development”. This event was organized by African PhD students of the UMB Global Governance and Human Security Program, and co-sponsored by Educational Divide Reform and the Academy of International Business US-Northeast Chapter.* This one-day workshop brought together PhD students and senior scholars of political science, business, sociology, health and environment to discuss pressing questions of peace and conflict, extraction of natural resources, and the future of business and development partnerships in Africa. Aside from showcasing the importance of research perspectives from Africa and the Global South, we were intrigued by the high level of involvement of presenters with their own research. Many experienced in their own lives the very conditions – poverty, discrimination, corruption – they are now studying and trying to change. What can we – scholars and students of organizations and business – learn from them and to what extent can their research be a role model for us? Let us give some individual thoughts and raise some questions going forward…
By Stephan Manning.
Many scholars around the world are getting ready for the 2016 conference season. In our digital age, where email, texting and video chat have become the primary means of communication, conferences remain an important nexus for face-to-face scholarly exchange, networking, career-making and innovation. Being located in Boston, but having important networks in Europe (and being a passionate traveler), I typically attend at least three conferences in the U.S., Europe or elsewhere every year. Whereas I take frequent conferencing for granted, I know that many of my colleagues, especially from the Southern Hemisphere, for example Brazil and South Africa, barely make it to one conference per year and often skip the conference season entirely. By comparison, Indian and Chinese scholars for example increasingly participate in the global conference circuit. What explains this divide? And what can be done to counter it?
By Keshav Krishnamurty.
Conferences are funny things. I was at the Eastern Sociological Society conference at the Boston Park Plaza this year, which proved to be fairly informal, friendly, and with a substantial number of undergrads presenting interesting new work. I have been to multiple management conferences before and although I am not quite a “conference junkie”, I can already see how each conference has its own “flavor”. Even relatively boring conferences sometimes tend to have rather interesting people turn up, and getting to meet them is an experience worth remembering.
Being the organizations nerd that I am, I’m also familiar with what the literature says about the benefits of conferences. More papers and articles than I can possibly list talk about how the networking opportunities provided by a conference help students – as the answers to this question at ResearchGate demonstrate – whether it’s in terms of finding future job opportunities, in terms of knowing future colleagues and superiors to recommend you and your work, or how meeting colleagues from different universities and therefore being exposed to new knowledge, new perspectives and new collaborations, leads to greater creativity. There is advice on how to network more easily at conferences, tips on conference productivity and for those who don’t like conferences much, there is even advice on how to make conference networking feel less ‘icky’. Overall, I do know, more or less, what to expect from a conference when I go into one. However, the Eastern Sociological Society conference resulted in something that I had not expected…. Continue reading
By Stephan Manning.
The political climate in the U.S. and Western Europe is changing dramatically – authoritarian populists are on the rise: Donald Trump keeps winning primaries and is likely to become the Republican U.S. presidential candidate. At the same time, nationalist parties are gaining ground across Europe. Recent example: The ‘Alternative for Germany’ (AfD), a populist right-wing party that campaigns against refugees, climbed from zero to double-digit percentage figures in the latest state elections. Supporters of Trump and European right-wing populist parties have several things in common: they are mostly male, yet rather diverse in terms of age and socio-economic status; they are not loyal to any political party, yet concerned about order and national identity; they are anti-establishment and include many prior non-voters. For example, in the German state Saxony-Anhalt, the AfD received a record-breaking 24% of votes mainly thanks to prior non-voters making up 40% of their votes. Trump is betting on such voters as well, and according to him, his supporters will start ‘riots’ if the Republican National Convention blocks his nomination. Where does this nationalist movement against the establishment come from? What drives prior non-voters to ballot boxes in favor of authoritarian leadership? And what does that mean for democracy?