Managed by the Markets: How Finance Re-Shaped America and over one million other books are available for Amazon Kindle. Learn more
Qty:1
  • List Price: $35.00
  • Save: $6.72 (19%)
FREE Shipping on orders over $35.
Only 10 left in stock.
Ships from and sold by Amazon.com.
Gift-wrap available.
Add to Cart
FREE Shipping on orders over $35.
Used: Good | Details
Sold by Ohiotext
Condition: Used: Good
Comment: Highlighting and/or underlining present.
Access codes and supplements are not guaranteed with used items.
Add to Cart
Have one to sell? Sell on Amazon
Flip to back Flip to front
Listen Playing... Paused   You're listening to a sample of the Audible audio edition.
Learn more
See this image

Managed by the Markets: How Finance Re-Shaped America Hardcover – June 15, 2009

ISBN-13: 978-0199216611 ISBN-10: 0199216614

Buy New
Price: $28.28
39 New from $4.04 66 Used from $2.50
Amazon Price New from Used from
eTextbook
"Please retry"
Hardcover, June 15, 2009
$28.28
$4.04 $2.50

Free%20Two-Day%20Shipping%20for%20College%20Students%20with%20Amazon%20Student



Frequently Bought Together

Managed by the Markets: How Finance Re-Shaped America + Capitalizing on Crisis: The Political Origins of the Rise of Finance
Price for both: $44.97

Buy the selected items together

NO_CONTENT_IN_FEATURE

Hero Quick Promo
Browse in Books with Buzz and explore more details on the current pick, "The Mockingbird Next Door: Life with Harper Lee" by Marja Mills.

Product Details

  • Hardcover: 320 pages
  • Publisher: Oxford University Press (June 15, 2009)
  • Language: English
  • ISBN-10: 0199216614
  • ISBN-13: 978-0199216611
  • Product Dimensions: 1.2 x 6.7 x 9.8 inches
  • Shipping Weight: 1.6 pounds (View shipping rates and policies)
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (47 customer reviews)
  • Amazon Best Sellers Rank: #995,290 in Books (See Top 100 in Books)

Editorial Reviews

From Publishers Weekly

This academic analysis of our evolution from an industrial to a postindustrial portfolio society offers provocative clues for anyone seeking to understand the current financial crisis and Americans' financial security. Davis, professor of management at the University of Michigan, asserts that in the eras of financial capitalism (1900–1930) and managerial capitalism (1930–1980), Americans looked to the corporation and long-term savings to provide them with security. In the wake of the takeovers and financial move to high risk savings in the 1980s, and deregulation and corporate scandals in the late 1990s, however, Americans have become disillusioned with the corporation as a source of lifetime employment and retirement capital and have instead relied on financial markets for security and wealth creation. In describing George W. Bush's ownership society, Davis notes that when individuals come to see themselves as free agent investors, the consequences for society can be dire. While a compelling read, this book offers few predictions for the new investor society, suggesting only that big government might have to clean up the mess that individual Americans have made. (May)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review


"An ambitious, magisterial, and yet not-too-long effort to sketch the social consequences of a finance-driven economy."--Matthew Yglesias, The American Prospect


"A compelling read...offers provocative clues for anyone seeking to understand the current financial crisis and Americans' financial security."--Publishers Weekly


"Timely and thought-provoking."--CHOICE


"This is a valuable and novel perspective...In contemplating the wreckage of the crisis, one should follow Davis's example, and ask whether this was either inevitable or desirable, and what, if anything, we might learn from it." --Strategy+Business


"Jerry Davis has been one of our most thoughtful researchers on the topic of how publicly traded corporations have changed in the past 25 years. ...many of the remedies proposed here are wending their way into law. ...a good place to start for anyone who is interested in what really [caused the financial crisis]."--Administrative Science Quarterly


"A valuable, timely and gripping analysis...Davis's book should be required reading for anyone, whether academic, practitioner, or policy maker, who needs to think critically about finance which, rather than a mechanistic set of transactions, is presented in the book as a social phenomenon that is invading our lives."--Accounting, Economics, and Law


"The meltdown of American financial markets has been catastrophic but the cause elusive. In Managed by the Markets, Gerald Davis offers a compelling explanation for it and so much more. To understand the disintegration of big corporations, securitization of just about everything, and transformation of our zeitgeist from producing products to making money, this is the book, a gripping portrait of the triumph of financial markets over all else."--Michael Useem, Professor of Management and Director of the Leadership Center at the Wharton School, University of Pennsylvania


"In this intellectual tour de force, Jerry Davis describes the evolution of the American economy to where we are now-where everything is a security or an option and, therefore, tradable in some sort of market. He also details the profound costs we have paid for this evolution. Timely, engaging, and filled with facts and analysis, Managed by the Markets explains how we got to where we are and maybe, just maybe, where we need to go next."--Jeffrey Pfeffer, Professor of Organizational Behavior at Stanford University and author of What Were They Thinking? Unconventional Wisdom About Management


"Davis's book is as compact and clear a description of how we screwed up a fine economy as you will find...Managed by the Markets is not some mere Progressive or left-liberal polemic against Wall Street manipulators. Because it is based in an accurate historical review of the stepwise process by which financial considerations replaced virtually every other concept of economic or social good, Davis's book delivers a solid, and negative, verdict against management by unregulated markets, which always crash." --Maui News


"This is a valuable and novel perspective...In contemplating the wreckage of the crisis, one should follow Davis's example, and ask whether this was either inevitable or desirable, and what, if anything, we might learn from it." --Strategy+Business


"Davis reminds his readers of the history of U.S. corporate law, and how individuals states competed to offer favorable law of incorporation to large firms." -- Contemporary Sociology



More About the Author

Gerald F. Davis is the Wilbur K. Pierpont Collegiate Professor of Management at the University of Michigan's Ross School of Business. He has published widely in management, sociology, and finance. Recent books include Social Movements and Organization Theory (with Doug McAdam, W. Richard Scott, and Mayer N. Zald) and Organizations and Organizing: Rational, Natural, and Open System Perspectives (with W. Richard Scott). He is currently Associate Editor of Administrative Science Quarterly and Co-Director of the Interdisciplinary Committee on Organization Studies (ICOS) at the University of Michigan.

Customer Reviews

4.1 out of 5 stars
5 star
17
4 star
21
3 star
6
2 star
3
1 star
0
See all 47 customer reviews
The book is presented much like a dissertation.
E. Swope
The U.S. is in the situation of having neither private sector nor public sector taking care of the most fundamental needs of Americans.
Robert Moore
This book is very well written, well referenced, and very interesting.
Tell It Like It Is

Most Helpful Customer Reviews

6 of 6 people found the following review helpful By Harry Eagar VINE VOICE on October 4, 2009
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
Except for the title, which should be "Mismanaged by the Markets," University of Michigan business professor Gerald Davis's book is as compact and clear a description of how we screwed up a fine economy as you will find.

It is presented in the form of a quick history of the changes in American business over the past century or so, and while I think it leaves out some important stuff, it does hit the high points.

One thing it leaves out is that until the 1920s, about two-fifths of American households were primary producers (farmers, mostly) or almost totally and directly dependent on primary producers (country stores, millers). These people represented a good deal less than two-fifths of wealth, but they were not greatly dependent on big city banks. They were dependent on wider markets and suffered when prices crashed in 1922, but if there had been a run on National City Bank, they would hardly have noticed.

Bankers were important, but their role was circumscribed. There could not have been a national housing bubble in the '20s, because mortgage lending was local, as was much banking. There was no FDIC, although some states, like Nebraska, had state bank deposit insurance (which, in the case of Nebraska, went bust in '28, without setting off any wider tremors). As Davis recognizes, banking was about to become even more circumscribed in the middle years of the century.

The dominant firms of the American economy, the giant manufacturers, were so profitable that they didn't need Wall Street or banks for any fundamental task: They found the capital they needed for expansion and renewal in their retained earnings.
Read more ›
2 Comments Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
6 of 7 people found the following review helpful By javajunki TOP 500 REVIEWER on June 5, 2009
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This is hands-down one of the most well written books covering the current economic crisis that I've read to date...and as a college instructor (business) and writer, I've read more than my share. It's intelligent, well organized, clear and right on the mark.

Those that are trying to make sense of what is taking place and why will find the background information easy to understand without insulting ones intelligence...however, unlike the vast majority of writers, the author doesn't stop with the basics. He takes time to explore where we came from, where we are today (as a nation and globally) and where we are likely heading in the future but without giving into the "easy money" hype of trying to forecast the future or make wild claims. Instead, he presents the information in a factual manner that allows the readers to draw their own conclusions and spot opportunity as well as risk inherent in the system itself.

During every major transition there are those that continue to work/invest from the former perspective while others realize that change is taking place. This is not an investment book per se but rather an in-depth exploration of the transition along a likely continuum.

Who Will Like This Book...
-Investors - those that want to understand the investment environment not merely those searching for a 'how to' or checklist.
- Business Owners
- Government Officials
- Political and/or Social Science Buffs
- Anyone seeking to better understand how we got here and were it heads into the future

Plain and simple, this is for those that don't mind to think...and think you will because the information, direction and long term consequences will not be easily digested - or resolved. Inform yourself.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
7 of 9 people found the following review helpful By Patrick M. Hussey on June 18, 2009
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
Managed by the Markets is an exquisite overview of modern finance-based "capitalism" as defined by most mainstream observers. The author shines when discussing corporate governance, as he has specialized in this area. The author also provides a strong overview of securitization, although his coverage of derivatives was weaker than hoped. The author covers a bit of the dot.com bubble as well, which would make this a useful text for younger students who missed that era, though older observers might skip it. The author flirts with mentioning the Money Trust that created the Fed, by citing Brandeis' classic "Other People's Money, and How the Bankers Use it". However, he dismisses the conspiratorial view that financial elites may have deliberately imploded the economy in order to own a larger portion of it.

"From Sovereign to Vendor-State" was a useful chapter, but the following chapter, "From Employee and Citizen to Investor" was not. Although people may have defined themselves in such terms circa 2005 or even 2007, the vast loss of wealth since then has introduced a new frugality. People are reconsidering their status as financial cogs, and rediscovering the human element. I have noticed this in previous recessions as well - perhaps the personal empire building reverses when one's financial coliseum collapses.

For this reason, and a few others too detailed to cover here, the Conclusion seems inaccurate and premature. The pervasiveness of finance has not created a portfolio society, but rather has been revealed as tremendously destructive force when coupled with extremely loose monetary policy. Modern cowboy finance as practised by the large banks has become a wealth destroyer and a parasite, not a wealth enhancer.
Read more ›
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again

Customer Images

Most Recent Customer Reviews

Search

What Other Items Do Customers Buy After Viewing This Item?