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Moral Categories in the Financial Crisis

Author

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  • Marion Fourcade

    (UC Berkeley - University of California [Berkeley] - UC - University of California)

  • Philippe Steiner

    (GEMAS - Groupe d'étude des méthodes de l'analyse sociologique - UP4 - Université Paris-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Wolfgang Streeck

    (Max Planck Institute for the Study of Societies - Max-Planck-Gesellschaft)

  • Cornelia Woll

    (CEE - Centre d'études européennes et de politique comparée (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

Abstract

Karl Marx observed long ago that all economic struggles invite moral struggles, or masquerade as such. The reverse may be true as well: deep moral-political conflicts may be waged through the manipulation of economic resources. Using the recent financial and Eurozone crises as empirical backgrounds, the four papers gathered here propose four different perspectives on the play of moral judgments in the economy, and call for broader and more systematic scholarly engagement with this issue. Focusing on executive compensation, bank bailouts, and the sovereign debt crisis, the symposium builds on a roundtable discussion held at the opening of the Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo) in Paris on November 29, 2012.

Suggested Citation

  • Marion Fourcade & Philippe Steiner & Wolfgang Streeck & Cornelia Woll, 2013. "Moral Categories in the Financial Crisis," Working Papers hal-02393514, HAL.
    • Handle: RePEc:hal:wpaper:hal-02393514
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-02393514
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    References listed on IDEAS

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    1. Claudia Senik & Holger Stichnoth & Karine Straeten, 2009. "Immigration and Natives’ Attitudes towards the Welfare State: Evidence from the European Social Survey," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 91(3), pages 345-370, May.
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    4. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Preface," MPRA Paper 17451, University Library of Munich, Germany.
    5. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    6. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Chapter 1," MPRA Paper 17452, University Library of Munich, Germany.
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    Cited by:

    1. Masoud Shadnam & Andrey Bykov & Ajnesh Prasad, 2021. "Opening Constructive Dialogues Between Business Ethics Research and the Sociology of Morality: Introduction to the Thematic Symposium," Journal of Business Ethics, Springer, vol. 170(2), pages 201-211, May.
    2. Streeck, Wolfgang, 2015. "The rise of the European consolidation state," MPIfG Discussion Paper 15/1, Max Planck Institute for the Study of Societies.
    3. Catherine Casey & Helen Delaney & Antje Fiedler, 2021. "Recalling the moral dimension: Transnational labour interests and corporate social responsibilities," Industrial Relations Journal, Wiley Blackwell, vol. 52(5), pages 389-405, September.
    4. Marita Susanna Svane & Sanne Frandsen, 2024. "Formal Ethics, Content Ethics and Relational Ethics: Three Approaches to Constructing Ethical Sales Cultures and Identities in Retail Banking," Journal of Business Ethics, Springer, vol. 189(2), pages 269-286, January.
    5. McGovern, Patrick & Obradović, Sandra & Bauer, Martin W., 2023. "In search of a Tawney Moment: income inequality, financial crisis and the mass media in the UK and the USA," LSE Research Online Documents on Economics 123556, London School of Economics and Political Science, LSE Library.
    6. Masoud Shadnam & Andrew Crane & Thomas B. Lawrence, 2020. "Who Calls It? Actors and Accounts in the Social Construction of Organizational Moral Failure," Journal of Business Ethics, Springer, vol. 165(4), pages 699-717, September.
    7. Diane-Laure Arjaliès & Rodolphe Durand, 2019. "Product Categories as Judgment Devices: The Moral Awakening of the Investment Industry," Organization Science, INFORMS, vol. 30(5), pages 885-911, September.
    8. Nicola Nones, 2024. "The Greek crisis as a “morality tale†? An empirical assessment," European Union Politics, , vol. 25(2), pages 291-312, June.

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