Wilbur K. Pierpont Collegiate Professor of Management

    Professor of Sociology

    Co-Director, ICOS (Interdisciplinary Committee on Organization Studies)

    Editor, Administrative Science Quarterly


Managed by the Markets


Managed by the Markets:

How Finance Reshaped America

Oxford University Press, 2009

Winner of the 2010 George R. Terry Book Award
for Outstanding Contribution to the Advancement of Management Knowledge from the Academy of Management

The current economic crisis reveals just how central finance has become to American life.  Problems with obscure securities created on Wall Street radiated outward to threaten the retirement security of pensioners in Florida and Arizona, the homes and college savings of families in Detroit and Southern California, and ultimately the global economy itself.  The American government took on vast new debt to bail out the financial system, while venerable Wall Street institutions disappeared, retailers went bankrupt, and major manufacturers teetered on the brink of oblivion.  How did we get into this mess, and what does it all mean?

Managed by the Markets explains how finance replaced manufacturing at the center of the American economy and how its influence has seeped into daily life. From corporations operated to create shareholder value, to banks that became portals to financial markets, to governments seeking to regulate or profit from footloose capital, to households with savings, pensions, and mortgages that rise and fall with the market, life in post-industrial America is tied to finance to an unprecedented degree.  Managed by the Markets provides a guide to how we got here and unpacks the consequences of linking the well-being of society too closely to financial markets.





Short pieces



Curriculum Vita[PDF]


Management & Organizations



Interdisciplinary Committee on  Organizational Studies


ASQ at Cornell University